Settings8H · net · $10k
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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 23:00 UTC+0.0411%/8h= +45.0% APRnext payment +$0.51 per $10,000 · paid last 24h −0.025%
Price spread now: Backpack against Bulk+0.009%7-day average −0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$12as in the Price arb table
costs, in and out, $10k−$170.174% of the position
Long on BulkShort on Backpack
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)−0.190%−$19 on $10k
Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.009%, 7d avg −0.045%
Together, before fees−0.221%−$22 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Backpack is 0.054% dearer against Bulk than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.045%. Mind the row above: over the last 3 days funding on this pair cost −0.190%, so the current rate has only just turned in your favour.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBulk BNB-USD807.660.0295pay 0.0037% / 1h40m 59s$652K$14K10x
ShortBackpack BNB_USDC_PERP807.730.0706get 0.0088% / 1h40m 59s$3.0M$5.5M40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Backpack against Bulk. 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

Funding earned
$86.29
Price spread: +0.009% → −0.045%
$5.41
Slippage, 4 orders
−$0.37
Fee Bulk: 3.5 bp × 2 orders
−$7
Fee Backpack: 5 bp × 2 orders
−$10
Net
$74.33
Costs to cover
0.174%
Break-even
1.0 days
Slippage from Bulk: live order book, 43 min ago; Backpack: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bulk live order book, 43 min ago0.06 bp3.6 bp −$43.7 bp −$376.0 bp −$59713.9 bp −$6,931
Sell Backpack live order book, 3 min ago0.06 bp5.1 bp −$55.7 bp −$57doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0201% / S +0.0372%1h806.58−0.133%$48K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h807.49−0.021%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h806.21−0.180%$3.0M$29.2M10xas long as short
Kalshi KXBNBPERP0.0000%8h807.20−0.057%$107K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h806.73−0.115%$872K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h806.69−0.120%$9.8M—150xas long as short
Variational Omni BNB+0.0048%8h804.97−0.333%$4.1M$5.3M—as long as short
BingX BNB-USDT+0.0059%8h806.90−0.094%—$34.5M—as long as short
Hibachi BNB/USDT-P+0.0080%1h805.86−0.222%$71K$48K12xas long as short
Bybit BNBUSDT+0.0083%8h806.50−0.144%$139.7M$81.1M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Lighter BNB+0.0096%1h806.92−0.091%$2.8M$4.2M20xas long as short
Coinbase International BNB-PERP-INTX+0.0096%1h805.54−0.262%$608K$881K50xas long as short
Nado BNB-PERP+0.0100%1h806.71−0.118%$1.5M$2.7M20xas long as short
Pacifica BNB+0.0100%1h807.19−0.058%$1.2M$924K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h806.80−0.106%$55.1M$116.1M50xas long as short
Arcus BNB-USD+0.0100%1h807.40−0.032%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h806.70−0.119%$36.1M$57.6M75xas long as short
KuCoin BNBUSDTM+0.0100%8h806.68−0.121%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h806.52−0.141%$78.8M$25.0M75xas long as short
edgeX BNBUSDC+0.0100%4h806.39−0.157%$4.2M$76.5M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h806.49−0.145%$162K$440K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h806.72−0.116%$116K$870K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h806.43−0.152%$390K$592K50xas long as short
Derive BNB-PERP+0.0100%1h806.80−0.106%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h807.43−0.029%$13K$1.7M50xas long as short
HTX BNB-USDT+0.0100%8h806.85−0.100%$8.2M$7.6M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h807.660.000%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h806.19−0.182%$1.9M$6.0M50xas long as short
Aevo BNB-PERP+0.0104%1h806.77−0.111%$388K$40K10xas long as short
Aster BNBUSDT+0.0107%8h807.42−0.029%$6.4M$18.8M200xas long as short
MEXC BNB_USDT+0.0120%8h807.60−0.007%$84.8M$13.4M200xas long as short
Binance BNBUSDT+0.0121%8h807.49−0.021%$521.6M$803.5M75xas long as short
Phemex BNBUSDT+0.0131%8h807.22−0.054%$70.4M$51.8M50xas long as short
Phoenix BNB+0.0155%1h807.20−0.057%$173K$35K10xas long as short
SoDEX BNB-USD+0.0184%1h806.70−0.119%$397K$1.0M10xas long as short
Kraken Futures PF_BNBUSD+0.0205%1h806.73−0.116%$2.5M$929K50xas long as short
dYdX BNB-USD+0.0207%1h806.57−0.135%$163K$63K10xas long as short
Hyperliquid BNB+0.0207%1h807.48−0.022%$52.0M$22.1M10xas long as short
BloFin BNB-USDT+0.0241%8h807.24−0.052%$18.8M$2.6M75xas long as short
Bulk BNB-USDlong+0.0295%1h807.66long leg$652K$14K10x
Deribit BNB_USDC-PERPETUAL+0.0300%1h806.95−0.088%$1.6M$165K25xas long as short
Injective BNB/USDC PERP+0.0311%1h805.09−0.318%$19K$789K30xas long as short
RISEx BNB/USDC+0.0318%1h807.26−0.049%$1.1M$1.5M20xas long as short
Reya BNBRUSDPERP+0.0333%1h806.41−0.155%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0360%1h807.86+0.025%$29K$1K10xas long as short
Backpack BNB_USDC_PERPshort+0.0706%1h807.73+0.009%$3.0M$5.5M40x