Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.047%

Price spread now: Orderly against Backpack−0.044%7-day average −0.025% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)−0.203%−$20 · spread now −0.044%, 7d avg −0.025%

Together, before fees−0.316%−$32 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	791.57	0.0100	pay 0.0013% / 1h	54m 45s	$2.2M	$6.1M	40x
Short	Orderly PERP_BNB_USDC	791.22	0.0100	get 0.0100% / 8h	4h 54m	$266K	$498K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.044%Rate

Funding earned: −$0.01
Price spread: −0.044% → −0.025%: −$1.87
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$17.88
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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, 4 min ago	0.06 bp	5.1 bp −$5	7.9 bp −$79	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0182% / S +0.0348%	1h	791.00	−0.071%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.49	−0.010%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.07	+0.063%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	791.13	−0.055%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.708%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0047%	8h	791.65	+0.010%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0056%	8h	790.90	−0.085%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0061%	8h	791.53	−0.005%	$69.3M	$49.9M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	−0.117%	$583K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0070%	8h	791.90	+0.042%	$80.4M	$12.1M	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	+0.0070%	8h	791.52	−0.006%	$494.0M	$790.4M	75x	as long as short
Lighter BNB	+0.0096%	1h	791.29	−0.035%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	791.22	−0.044%	$266K	$498K	50x
Nado BNB-PERP	+0.0100%	1h	790.45	−0.141%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.66	+0.011%	$51.9M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.18	−0.049%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	790.73	−0.106%	$139.1M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	790.70	−0.110%	$53.5M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.20	−0.047%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	790.95	−0.078%	$35.5M	$56.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	790.97	−0.076%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	790.70	−0.110%	$76.6M	$30.3M	75x	as long as short
Backpack BNB_USDC_PERPlong	+0.0100%	1h	791.57	long leg	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	790.82	−0.095%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.34	−0.155%	$4.1M	$74.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.18	−0.176%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.84	−0.092%	$134K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.32	−0.031%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.45	−0.016%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.20	−0.047%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.91	−0.084%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	791.60	+0.004%	$77K	$17K	50x	as long as short
dYdX BNB-USD	+0.0104%	1h	791.17	−0.051%	$160K	$64K	10x	as long as short
Extended BNB-USD	+0.0104%	1h	790.72	−0.107%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.16	−0.052%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.15	−0.053%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	790.47	−0.139%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0182%	8h	791.60	+0.004%	$113K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0190%	8h	791.46	−0.014%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	791.59	+0.003%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	790.94	−0.079%	$2.5M	$1.2M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.61	+0.005%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.40	−0.148%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0338%	1h	790.78	−0.100%	$640K	$9K	10x	as long as short
RISEx BNB/USDC	+0.0461%	1h	791.36	−0.027%	$1.1M	$978K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	791.14	−0.054%	$68K	$38K	12x	as long as short