BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.049%

Price spread now: Lighter against Backpack+0.011%54s7-day average −0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$120.124% of the position

Long on Backpack Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.011%, 7d avg −0.120%

Together, before fees−0.213%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.131% dearer against Backpack than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.120%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	791.54	0.0100	pay 0.0013% / 1h	31m 16s	$2.2M	$6.1M	40x
Short	Lighter BNB	791.63	0.0096	get 0.0012% / 1h	31m 16s	$2.8M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$0.84
Price spread: +0.011% → −0.120%: $13.12
Slippage, 4 orders: −$2.36
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.08
Costs to cover: 0.124%
Break-even: from the start

Slippage from Backpack: live order book, 3 min ago; Lighter: live order book, 11 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	5.1 bp −$5	8.4 bp −$84	doesn't fit	doesn't fit
Sell Lighter live order book, 11 min ago	0.38 bp	0.4 bp $0	3.7 bp −$37	12.8 bp −$1,276	70.2 bp −$35.1K

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 −0.0186% / S +0.0350%	1h	791.55	+0.002%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.41	−0.016%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	791.14	−0.051%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	791.54	0.000%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.712%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	792.23	+0.087%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0053%	8h	791.05	−0.062%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0060%	8h	792.07	+0.067%	$69.3M	$49.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.264%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	792.50	+0.121%	$80.4M	$12.3M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0066%	8h	792.19	+0.082%	$494.5M	$788.7M	75x	as long as short
Lighter BNBshort	+0.0096%	1h	791.63	+0.011%	$2.8M	$3.8M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	791.57	+0.004%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	791.45	−0.011%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	792.20	+0.083%	$52.0M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.83	+0.037%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.40	−0.018%	$139.2M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.40	−0.018%	$53.5M	$111.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.80	+0.033%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.45	−0.011%	$35.4M	$56.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.41	−0.016%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.11	−0.054%	$76.5M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERPlong	+0.0100%	1h	791.54	long leg	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	788.01	−0.446%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.56	−0.251%	$4.1M	$73.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.95	−0.075%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.51	−0.004%	$134K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.59	+0.007%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.22	+0.086%	$13K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.60	+0.008%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.11	−0.055%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	792.04	+0.063%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.15	−0.050%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.59	+0.006%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.61	−0.244%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0133%	1h	791.21	−0.042%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0139%	8h	789.87	−0.211%	$2.9M	$28.3M	10x	as long as short
Kalshi KXBNBPERP	+0.0179%	8h	791.90	+0.045%	$125K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0186%	8h	792.10	+0.071%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	792.23	+0.087%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0245%	1h	789.82	−0.217%	$640K	$9K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	791.38	−0.020%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	792.01	+0.059%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	791.30	−0.030%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	790.70	−0.106%	$68K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	791.92	+0.048%	$1.1M	$973K	20x	as long as short