BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0357%/8h= +39.1% APRnext payment +$0.45 per $10,000 · paid last 24h +0.048%

Price spread now: Backpack against Injective−1.910%7-day average +0.362% · you buy dearer than you sell

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

Long on Injective Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 3 days (all we have)+2.393%+$239 · spread now −1.910%, 7d avg +0.362%

Together, before fees+2.721%+$272 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 2.272% cheaper against Injective than usual: you would sell low and buy high (spread −1.910% now, against its 7-day average of +0.362%). If the spread goes back, that is −$227 on $10k: about 21 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.328% in total) that is about 48 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BNB/USDC PERP	805.09	0.0033	pay 0.0004% / 1h	10m 49s	$19K	$789K	30x
Short	Backpack BNB_USDC_PERP	789.71	0.0391	get 0.0049% / 1h	10m 49s	$2.7M	$5.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee BackpackbpOrdersPrice spread, now −1.910%Rate

Funding earned: $75.01
Price spread: −1.910% → +0.362%: −$227.21
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$162.22
Costs to cover: 0.100%
Break-even: 22.1 days

Slippage unknown: Injective: no order-book sample; Backpack: live order book, 3 min ago. 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 Injective no order-book sample	—	—	—	—	—
Sell Backpack live order book, 3 min ago	0.06 bp	5.1 bp −$5	6.7 bp −$67	doesn't fit	doesn't fit

Injective: 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 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	788.59	−2.050%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	788.97	−2.002%	$2.5M	$1.1M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.09	−1.987%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.59	−1.925%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.59	−2.049%	$9.6M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	789.66	−1.917%	$6.2M	$20.1M	200x	as long as short
Injective BNB/USDC PERPlong	+0.0033%	1h	805.09	long leg	$19K	$789K	30x
Gate BNB_USDT	+0.0045%	8h	788.70	−2.036%	$35.2M	$57.4M	75x	as long as short
Variational Omni BNB	+0.0050%	8h	788.61	−2.047%	$4.1M	$4.9M	—	as long as short
BingX BNB-USDC	+0.0050%	8h	788.89	−2.012%	—	$13.4M	—	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	−2.021%	$619K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	789.60	−1.924%	$80.2M	$13.1M	200x	as long as short
Phemex BNBUSDT	+0.0062%	8h	789.61	−1.923%	$69.0M	$50.7M	50x	as long as short
Binance BNBUSDT	+0.0063%	8h	789.47	−1.940%	$494.4M	$824.9M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0072%	8h	788.72	−2.034%	$2.9M	$28.6M	10x	as long as short
dYdX BNB-USD	+0.0081%	1h	788.84	−2.018%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	788.56	−2.053%	$169K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	789.25	−1.968%	$2.8M	$4.1M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.00	−1.999%	$381K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.35	−2.079%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.58	−1.926%	$51.7M	$19.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.82	−2.020%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.75	−2.030%	$139.0M	$79.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.70	−2.036%	$53.4M	$113.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	−1.999%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.59	−2.049%	$27.8M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.56	−2.053%	$77.7M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.20	−2.098%	$4.1M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.71	−2.035%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.57	−2.052%	$137K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.08	−1.989%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.33	−1.957%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.10	−1.986%	$388K	$998K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.64	−2.043%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	789.35	−1.954%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.41	−2.072%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.02	−1.996%	$379K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	789.11	−1.985%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0163%	8h	789.10	−1.986%	$92K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0244%	1h	794.01	−1.376%	$643K	$13K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.34	−1.956%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.54	−2.056%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERPshort	+0.0391%	1h	789.71	−1.910%	$2.7M	$5.7M	40x
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.50	−1.937%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	788.77	−2.027%	$68K	$39K	12x	as long as short