Funding you earn now, next payment 02:00 UTC+0.0380%/8h= +41.6% APRnext payment +$0.47 per $10,000 · paid last 24h +0.071%
Price spread now: Backpack against gTrade (Gains Network)+0.134%7-day average +0.061% · 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−$273as in the Price arb table
costs, in and out, $10k−$2812.807% of the position
Funding, last 3 days (all we have)+0.134%+$13 on $10k
+Price spread, last 3 days (all we have)−0.073%−$7 · spread now +0.134%, 7d avg +0.061%
=Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Backpack is 0.074% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.061%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | gTrade (Gains Network) BNB/USD | 788.62 | L +0.0008% / S −0.0007% | pay 0.0001% / 1h | 7m 59s | $9.6M | — | 150x |
| Short | Backpack BNB_USDC_PERP | 789.68 | 0.0387 | get 0.0048% / 1h | 7m 59s | $2.7M | $5.7M | 40x |
gTrade (Gains Network) BNB/USD
Backpack BNB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against gTrade (Gains Network). 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
- $79.7
- Price spread: +0.134% → +0.061%
- $7.37
- Slippage, 4 orders
- −$260.68
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$193.61
- Costs to cover
- 2.807%
- Break-even
- 24.0 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 1 min ago; Backpack: live order book, 1 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 gTrade (Gains Network) virtual book (oracle venue), 1 min ago | 130.00 bp | 135.0 bp −$135 | 135.0 bp −$1,350 | 416.8 bp −$41.7K | 2253.7 bp −$1.13M |
| Sell Backpack live order book, 1 min ago | 0.13 bp | 5.4 bp −$5 | 10.4 bp −$104 | 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 | 788.55 | −0.009% | $46K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0132% | 1h | 788.70 | +0.010% | $2.5M | $1.2M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 788.33 | −0.037% | $4K | $239 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 789.44 | +0.104% | $853K | $3.2M | 30x | as long as short |
| gTrade (Gains Network) BNB/USDlong | L +0.0008% / S −0.0007% | 1h | 788.62 | long leg | $9.6M | — | 150x | |
| Aster BNBUSDT | +0.0029% | 8h | 789.17 | +0.070% | $6.2M | $20.1M | 200x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.088% | $19K | $789K | 30x | as long as short |
| Gate BNB_USDT | +0.0048% | 8h | 788.75 | +0.016% | $35.1M | $57.7M | 75x | as long as short |
| BingX BNB-USDC | +0.0049% | 8h | 788.52 | −0.013% | — | $13.3M | — | as long as short |
| Variational Omni BNB | +0.0050% | 8h | 788.61 | −0.001% | $4.1M | $4.9M | — | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
StandX BNB-USD
Aster BNBUSDT
Injective BNB/USDC PERP
Gate BNB_USDT
BingX BNB-USDC
Variational Omni BNBShow 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 | +0.025% | $619K | $1.8M | 50x | as long as short |
| MEXC BNB_USDT | +0.0064% | 8h | 789.50 | +0.112% | $80.3M | $13.2M | 200x | as long as short |
| Binance BNBUSDT | +0.0064% | 8h | 789.59 | +0.123% | $494.5M | $823.5M | 75x | as long as short |
| Phemex BNBUSDT | +0.0066% | 8h | 788.85 | +0.029% | $69.0M | $50.5M | 50x | as long as short |
| GRVT BNB_USDT_Perp | +0.0080% | 8h | 789.44 | +0.104% | $2.9M | $28.5M | 10x | as long as short |
| Phoenix BNB | +0.0088% | 1h | 788.56 | −0.008% | $169K | $36K | 10x | as long as short |
| dYdX BNB-USD | +0.0091% | 1h | 788.17 | −0.058% | $159K | $63K | 10x | as long as short |
| Lighter BNB | +0.0096% | 1h | 788.84 | +0.027% | $2.8M | $4.1M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 788.68 | +0.008% | $381K | $409K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 787.75 | −0.110% | $1.5M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 789.50 | +0.112% | $51.7M | $18.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 788.12 | −0.063% | $1.2M | $920K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 788.80 | +0.023% | $138.9M | $79.7M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 788.80 | +0.023% | $53.5M | $113.6M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 788.30 | −0.041% | $52K | $135K | 10x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 788.38 | −0.030% | $27.8M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 788.75 | +0.016% | $77.7M | $29.9M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 789.23 | +0.077% | $4.1M | $77.1M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 788.87 | +0.032% | $159K | $438K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 788.18 | −0.056% | $137K | $950K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 788.86 | +0.031% | $31K | $9K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 788.38 | −0.031% | $12K | $1.6M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 788.70 | +0.010% | $388K | $999K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 788.22 | −0.051% | $8.1M | $9.0M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 788.68 | +0.008% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 788.67 | +0.006% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 788.84 | +0.027% | $379K | $110K | 10x | as long as short |
| RISEx BNB/USDC | +0.0131% | 1h | 788.40 | −0.027% | $1.1M | $1.1M | 20x | as long as short |
| Kalshi KXBNBPERP | +0.0165% | 8h | 788.60 | −0.003% | $92K | $2.9M | 4.8x | as long as short |
| Bulk BNB-USD | +0.0244% | 1h | 794.01 | +0.684% | $643K | $13K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0264% | 1h | 788.73 | +0.014% | $28K | $3K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0328% | 1h | 788.15 | −0.060% | $6K | $3K | 40x | as long as short |
| Backpack BNB_USDC_PERPshort | +0.0387% | 1h | 789.68 | +0.134% | $2.7M | $5.7M | 40x | |
| Deribit BNB_USDC-PERPETUAL | +0.0400% | 1h | 789.25 | +0.079% | $1.5M | $160K | 25x | as long as short |
| Hibachi BNB/USDT-P | +0.0544% | 1h | 788.80 | +0.022% | $68K | $39K | 12x | as long as short |
Coinbase International BNB-PERP-INTX
MEXC BNB_USDT
Binance BNBUSDT
Phemex BNBUSDT
GRVT BNB_USDT_Perp
Phoenix BNB
dYdX BNB-USD
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
RISEx BNB/USDC
Kalshi KXBNBPERP
Bulk BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
Deribit BNB_USDC-PERPETUAL
Hibachi BNB/USDT-P