BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0706%/8h= −77.3% APRnext payment −$0.88 per $10,000 · paid last 24h −0.059%

Price spread now: gTrade (Gains Network) against Backpack−0.127%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$290as in the Price arb table

costs, in and out, $10k−$2832.827% of the position

Long on Backpack Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.118%−$12 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now −0.127%, 7d avg −0.058%

Together, before fees−0.071%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and gTrade (Gains Network) is 0.069% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.058%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.118% in total (about -14.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.88 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	806.03	0.0713	pay 0.0089% / 1h	50m 43s	$3.0M	$5.5M	40x
Short	gTrade (Gains Network) BNB/USD	805.01	L +0.0008% / S −0.0007%	get 0.0001% / 1h	50m 43s	$9.8M	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.127%Rate

Funding earned: −$148.21
Price spread: −0.127% → −0.058%: −$6.89
Slippage, 4 orders: −$262.67
Fee Backpack: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$437.77
Costs to cover: 2.827%
Break-even: never at this rate

Slippage from Backpack: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle venue), 3 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, 3 min ago	0.06 bp	5.2 bp −$5	12.0 bp −$120	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 3 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	484.2 bp −$48.4K	3301.4 bp −$1.65M

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	804.97	−0.132%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.32	−0.088%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.78	+0.093%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.60	−0.053%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.28	−0.093%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USDshort	L +0.0008% / S −0.0007%	1h	805.01	−0.127%	$9.8M	—	150x
Hibachi BNB/USDT-P	+0.0040%	1h	805.13	−0.112%	$71K	$48K	12x	as long as short
Variational Omni BNB	+0.0044%	8h	805.28	−0.093%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0057%	8h	805.50	−0.066%	—	$34.5M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	805.07	−0.119%	$139.4M	$82.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.78	−0.031%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	−0.033%	$608K	$882K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.45	−0.196%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.54	−0.061%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	805.30	−0.091%	$55.1M	$116.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.70	−0.041%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	805.30	−0.091%	$36.2M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.35	−0.084%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	805.08	−0.118%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.71	−0.040%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	−0.053%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.65	−0.171%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.98	−0.130%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.26	−0.096%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.23	−0.100%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.83	−0.149%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.18	+0.018%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0102%	8h	805.57	−0.057%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.55	−0.184%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.08	−0.118%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	806.50	+0.058%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	806.20	+0.021%	$520.9M	$805.3M	75x	as long as short
Phemex BNBUSDT	+0.0137%	8h	805.59	−0.055%	$70.3M	$51.9M	50x	as long as short
SoDEX BNB-USD	+0.0151%	1h	805.00	−0.128%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0153%	1h	806.24	+0.026%	$51.9M	$22.0M	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.39	−0.079%	$173K	$35K	10x	as long as short
dYdX BNB-USD	+0.0173%	1h	805.13	−0.112%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.12	−0.113%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.41	−0.077%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	−0.060%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.48	−0.069%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.117%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.05	−0.122%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.28	−0.218%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.56	−0.058%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERPlong	+0.0713%	1h	806.03	long leg	$3.0M	$5.5M	40x