Funding you earn now, next payment 22:00 UTC−0.0545%/8h= −59.7% APRpaid last 24h −0.007%
Price spread now: MEXC against Backpack0.000%7-day average +0.078% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$170.167% of the position
Funding, last 7 days−0.154%−$15 on $10k
+Price spread, last 7 days+0.181%+$18 · spread now 0.000%, 7d avg +0.078%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and MEXC is 0.078% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.078%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% a year). A funding rate is set anew for every payment. 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 | 805.00 | 0.0647 | pay 0.0081% / 1h | 57m 14s | $3.0M | $5.3M | 40x |
| Short | MEXC BNB_USDT | 805.00 | 0.0102 | get 0.0102% / 8h | 2h 57m | $84.5M | $13.5M | 200x |
Backpack BNB_USDC_PERP
MEXC BNB_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$114.54
- Price spread: 0.000% → +0.078%
- −$7.76
- Slippage, 4 orders
- −$2.66
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 2 bp × 2 orders
- −$4
- Net
- −$138.95
- Costs to cover
- 0.167%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 2 min ago; MEXC: live order book, 2 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, 2 min ago | 0.06 bp | 5.6 bp −$6 | 9.1 bp −$91 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 2 min ago | 0.62 bp | 3.2 bp −$3 | 6.5 bp −$65 | 17.9 bp −$1,795 | 33.6 bp −$16.8K |
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 | 803.78 | −0.151% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 804.90 | −0.012% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 805.27 | +0.034% | $3.0M | $30.4M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 804.00 | −0.124% | $109K | $2.6M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 804.53 | −0.058% | $870K | $3.0M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 803.83 | −0.146% | $9.8M | — | 150x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0038% | 1h | 803.88 | −0.139% | $2.5M | $916K | 50x | as long as short |
| Variational Omni BNB | +0.0067% | 8h | 804.96 | −0.005% | $4.1M | $5.4M | — | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0088% | 1h | 805.24 | +0.030% | $609K | $900K | 50x | as long as short |
| Aster BNBUSDT | +0.0089% | 8h | 804.42 | −0.072% | $6.4M | $19.0M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Kraken Futures PF_BNBUSD
Variational Omni BNB
Coinbase International BNB-PERP-INTX
Aster BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BNB | +0.0096% | 1h | 804.01 | −0.123% | $2.8M | $4.2M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 803.50 | −0.186% | $1.4M | $2.8M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 803.93 | −0.133% | $1.2M | $923K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 803.44 | −0.194% | $139.1M | $83.3M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 803.70 | −0.161% | $55.0M | $115.7M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 803.90 | −0.137% | $52K | $191K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 803.55 | −0.180% | $35.9M | $58.1M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 803.69 | −0.163% | $28.1M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 803.46 | −0.191% | $79.1M | $24.6M | 75x | as long as short |
| BingX BNB-USDC | +0.0100% | 8h | 804.29 | −0.088% | — | $13.3M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 805.56 | +0.070% | $4.2M | $76.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 805.39 | +0.048% | $159K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 803.85 | −0.143% | $118K | $869K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 803.90 | −0.137% | $388K | $595K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 804.07 | −0.115% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 804.12 | −0.110% | $13K | $1.7M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 803.90 | −0.137% | $395K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 803.94 | −0.131% | $8.2M | $7.3M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 804.26 | −0.092% | $78K | $19K | 50x | as long as short |
| MEXC BNB_USDTshort | +0.0102% | 8h | 805.00 | 0.000% | $84.5M | $13.5M | 200x | |
| Binance BNBUSDT | +0.0102% | 8h | 804.49 | −0.063% | $519.1M | $809.6M | 75x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 803.49 | −0.188% | $1.9M | $6.1M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 804.06 | −0.117% | $386K | $40K | 10x | as long as short |
| Phoenix BNB | +0.0110% | 1h | 805.11 | +0.014% | $173K | $35K | 10x | as long as short |
| Phemex BNBUSDT | +0.0114% | 8h | 804.46 | −0.067% | $70.2M | $51.7M | 50x | as long as short |
| Bulk BNB-USD | +0.0140% | 1h | 805.09 | +0.011% | $650K | $11K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 804.37 | −0.078% | $1.6M | $161K | 25x | as long as short |
| dYdX BNB-USD | +0.0208% | 1h | 803.90 | −0.137% | $170K | $55K | 10x | as long as short |
| RISEx BNB/USDC | +0.0209% | 1h | 804.07 | −0.116% | $1.1M | $1.4M | 20x | as long as short |
| Hyperliquid BNB | +0.0211% | 1h | 804.55 | −0.056% | $51.7M | $21.3M | 10x | as long as short |
| BloFin BNB-USDT | +0.0222% | 8h | 804.51 | −0.061% | $18.9M | $3.0M | 75x | as long as short |
| Hibachi BNB/USDT-P | +0.0240% | 1h | 804.46 | −0.067% | $71K | $49K | 12x | as long as short |
| 01 Exchange BNBUSD | +0.0296% | 1h | 804.40 | −0.075% | $28K | $1K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0335% | 1h | 803.64 | −0.169% | $6K | $3K | 40x | as long as short |
| Injective BNB/USDC PERP | +0.0353% | 1h | 804.92 | −0.010% | $19K | $526K | 30x | as long as short |
| Backpack BNB_USDC_PERPlong | +0.0647% | 1h | 805.00 | long leg | $3.0M | $5.3M | 40x |
Lighter BNB
Nado BNB-PERP
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
BingX BNB-USDC
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Binance BNBUSDT
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Phemex BNBUSDT
Bulk BNB-USD
Deribit BNB_USDC-PERPETUAL
dYdX BNB-USD
RISEx BNB/USDC
Hyperliquid BNB
BloFin BNB-USDT
Hibachi BNB/USDT-P
01 Exchange BNBUSD
Reya BNBRUSDPERP
Injective BNB/USDC PERP