BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0428%/8h= −46.9% APRnext payment −$0.54 per $10,000 · paid last 24h +0.079%

Price spread now: dYdX against Backpack−0.103%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.321%+$32 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.103%, 7d avg −0.052%

Together, before fees+0.443%+$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and dYdX is 0.051% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.052%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.321%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	803.83	0.0682	pay 0.0085% / 1h	39m 35s	$3.0M	$5.3M	40x
Short	dYdX BNB-USD	803.00	0.0254	get 0.0032% / 1h	39m 35s	$170K	$55K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee dYdXbpOrdersPrice spread, now −0.103%Rate

Funding earned: −$89.91
Price spread: −0.103% → −0.052%: −$5.13
Slippage, 4 orders: −$30.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$145.19
Costs to cover: 0.501%
Break-even: never at this rate

Slippage from Backpack: live order book, 5 min ago; dYdX: live order book, 49 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 5 min ago	0.06 bp	6.3 bp −$6	11.1 bp −$111	doesn't fit	doesn't fit
Sell dYdX live order book, 49 min ago	12.60 bp	19.2 bp −$19	63.6 bp −$636	96.8 bp −$9,684	323.0 bp −$161.5K

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX BNB/USD [WBTC.b-USDC]	L −0.0195% / S +0.0371%	1h	802.80	−0.128%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.25	−0.072%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.09	−0.092%	$3.0M	$30.0M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.40	−0.053%	$122K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.66	−0.021%	$868K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.83	−0.125%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	802.99	−0.105%	$2.5M	$910K	50x	as long as short
Variational Omni BNB	+0.0055%	8h	802.35	−0.184%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0062%	8h	802.59	−0.154%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	801.82	−0.250%	$138.6M	$82.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0087%	8h	802.95	−0.109%	$6.4M	$18.8M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.020%	$608K	$880K	50x	as long as short
Lighter BNB	+0.0096%	1h	802.78	−0.131%	$2.8M	$4.2M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.52	−0.163%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.58	−0.156%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.20	−0.203%	$55.1M	$115.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.60	−0.153%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.05	−0.221%	$35.9M	$58.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.38	−0.180%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.10	−0.215%	$78.9M	$24.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.30	−0.066%	$4.2M	$77.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.22	−0.076%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.68	−0.143%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.87	−0.119%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.99	−0.104%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.47	−0.044%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.33	−0.062%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.91	−0.114%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.94	−0.111%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0103%	8h	803.20	−0.078%	$84.4M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0103%	8h	802.86	−0.121%	$517.8M	$803.3M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	801.81	−0.251%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.08	−0.093%	$386K	$40K	10x	as long as short
SoDEX BNB-USD	+0.0119%	1h	802.90	−0.116%	$395K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0119%	8h	803.49	−0.042%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.50	−0.041%	$173K	$35K	10x	as long as short
Hyperliquid BNB	+0.0151%	1h	803.22	−0.076%	$51.6M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0194%	1h	803.61	−0.027%	$649K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	802.55	−0.159%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0224%	8h	803.58	−0.031%	$18.8M	$3.0M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.38	−0.056%	$71K	$49K	12x	as long as short
dYdX BNB-USDshort	+0.0254%	1h	803.00	−0.103%	$170K	$55K	10x
01 Exchange BNBUSD	+0.0312%	1h	802.92	−0.113%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	802.61	−0.151%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.136%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERPlong	+0.0682%	1h	803.83	long leg	$3.0M	$5.3M	40x