BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0302%/8h= +33.1% APRnext payment +$0.38 per $10,000 · paid last 24h −0.056%

Price spread now: Backpack against dYdX+0.102%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$560.559% of the position

Long on dYdX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.303%−$30 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.102%, 7d avg +0.055%

Together, before fees−0.367%−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Backpack is 0.047% dearer against dYdX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.055%. Mind the row above: over the last 7 days funding on this pair cost −0.303%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BNB-USD	788.17	0.0087	pay 0.0011% / 1h	9m 21s	$159K	$63K	10x
Short	Backpack BNB_USDC_PERP	788.97	0.0390	get 0.0049% / 1h	9m 21s	$2.7M	$5.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against dYdX. 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 dYdXbpFee BackpackbpOrdersPrice spread, now +0.102%Rate

Funding earned: $63.48
Price spread: +0.102% → +0.055%: $4.7
Slippage, 4 orders: −$35.86
Fee dYdX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $12.33
Costs to cover: 0.559%
Break-even: 5.6 days

Slippage from dYdX: live order book, 60 min ago; Backpack: live order book, 5 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 dYdX live order book, 60 min ago	14.44 bp	19.5 bp −$19	37.4 bp −$374	83.1 bp −$8,309	123.3 bp −$61.7K
Sell Backpack live order book, 5 min ago	0.06 bp	5.1 bp −$5	6.7 bp −$67	doesn't fit	doesn't fit

BNB on 45 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 −0.0167% / S +0.0335%	1h	787.78	−0.049%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0133%	1h	787.87	−0.038%	$2.5M	$1.1M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.60	+0.055%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.44	+0.162%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	787.81	−0.045%	$9.6M	—	150x	as long as short
Aster BNBUSDT	+0.0029%	8h	788.66	+0.063%	$6.2M	$20.1M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.147%	$19K	$789K	30x	as long as short
Gate BNB_USDT	+0.0045%	8h	787.90	−0.034%	$35.1M	$57.7M	75x	as long as short
BingX BNB-USDC	+0.0049%	8h	788.23	+0.008%	—	$13.4M	—	as long as short
Variational Omni BNB	+0.0050%	8h	788.61	+0.057%	$4.1M	$4.9M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	788.82	+0.083%	$619K	$1.8M	50x	as long as short
MEXC BNB_USDT	+0.0064%	8h	788.80	+0.080%	$80.2M	$13.1M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	788.46	+0.037%	$493.8M	$824.5M	75x	as long as short
Phemex BNBUSDT	+0.0065%	8h	788.39	+0.028%	$69.0M	$50.5M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0080%	8h	789.44	+0.162%	$2.9M	$28.5M	10x	as long as short
dYdX BNB-USDlong	+0.0087%	1h	788.17	long leg	$159K	$63K	10x
Phoenix BNB	+0.0088%	1h	788.56	+0.050%	$169K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	787.98	−0.024%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.92	−0.031%	$381K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	787.85	−0.040%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.46	+0.037%	$51.7M	$18.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.31	+0.019%	$1.2M	$920K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.71	−0.058%	$138.8M	$79.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.80	−0.046%	$53.4M	$113.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	+0.004%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.73	−0.055%	$27.8M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.68	−0.062%	$77.6M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.23	+0.135%	$4.1M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.87	+0.089%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.78	−0.049%	$137K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.02	−0.019%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.75	+0.074%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.00	−0.021%	$387K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.95	−0.028%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.72	+0.070%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.62	−0.069%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.99	−0.023%	$379K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	788.22	+0.007%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0165%	8h	788.30	+0.017%	$92K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	+0.742%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	788.44	+0.035%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.41	+0.031%	$1.5M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.77	−0.050%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERPshort	+0.0390%	1h	788.97	+0.102%	$2.7M	$5.7M	40x
Hibachi BNB/USDT-P	+0.0544%	1h	788.80	+0.080%	$68K	$39K	12x	as long as short