Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.049%
Price spread now: Backpack against Lighter−0.016%7-day average +0.120% · you buy dearer than you sell
Net, funding: paid 7d − costs+$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$120.124% of the position
Funding, last 7 days+0.175%+$18 on $10k
+Price spread, last 7 days+0.042%+$4 · spread now −0.016%, 7d avg +0.120%
=Together, before fees+0.218%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.136% cheaper against Lighter than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.120%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BNB | 791.67 | 0.0096 | pay 0.0012% / 1h | 31m 20s | $2.8M | $3.8M | 20x |
| Short | Backpack BNB_USDC_PERP | 791.54 | 0.0100 | get 0.0013% / 1h | 31m 20s | $2.2M | $6.1M | 40x |
Lighter BNB
Backpack BNB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: −0.016% → +0.120%
- −$13.62
- Slippage, 4 orders
- −$2.36
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$25.14
- Costs to cover
- 0.124%
- Break-even
- 216.5 days
Slippage from Lighter: live order book, 11 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| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Lighter live order book, 11 min ago | 0.38 bp | 1.0 bp −$1 | 5.5 bp −$55 | 16.5 bp −$1,651 | 68.8 bp −$34.4K |
| Sell Backpack live order book, 3 min ago | 0.06 bp | 5.8 bp −$6 | 7.3 bp −$73 | doesn't fit | doesn't fit |
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 −0.0186% / S +0.0350% | 1h | 791.55 | −0.015% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 791.41 | −0.033% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 791.14 | −0.067% | $853K | $3.2M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 791.54 | −0.016% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +1.695% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0043% | 8h | 792.23 | +0.071% | $6.1M | $18.7M | 200x | as long as short |
| BingX BNB-USDC | +0.0053% | 8h | 791.05 | −0.078% | — | $13.4M | — | as long as short |
| Phemex BNBUSDT | +0.0063% | 8h | 791.74 | +0.009% | $69.3M | $49.9M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0064% | 1h | 789.45 | −0.280% | $582K | $1.9M | 50x | as long as short |
| MEXC BNB_USDT | +0.0066% | 8h | 792.50 | +0.105% | $80.4M | $12.3M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
BingX BNB-USDC
Phemex BNBUSDT
Coinbase International BNB-PERP-INTX
MEXC BNB_USDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance BNBUSDT | +0.0066% | 8h | 792.11 | +0.056% | $494.5M | $788.7M | 75x | as long as short |
| Lighter BNBlong | +0.0096% | 1h | 791.67 | long leg | $2.8M | $3.8M | 20x | |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 791.57 | −0.013% | $266K | $492K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 791.45 | −0.028% | $1.5M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 792.20 | +0.067% | $52.0M | $17.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 791.83 | +0.020% | $1.2M | $931K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 791.40 | −0.034% | $139.2M | $74.6M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 791.40 | −0.034% | $53.5M | $111.4M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 791.80 | +0.016% | $52K | $130K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 791.45 | −0.028% | $35.4M | $56.8M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 791.37 | −0.038% | $27.7M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 791.17 | −0.063% | $76.5M | $30.1M | 75x | as long as short |
| Backpack BNB_USDC_PERPshort | +0.0100% | 1h | 791.54 | −0.016% | $2.2M | $6.1M | 40x | |
| Variational Omni BNB | +0.0100% | 8h | 788.01 | −0.462% | $4.1M | $4.6M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 789.56 | −0.267% | $4.1M | $73.6M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 790.95 | −0.091% | $159K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 791.51 | −0.020% | $134K | $950K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 791.16 | −0.065% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 791.62 | −0.007% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 791.20 | −0.059% | $389K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 791.11 | −0.071% | $8.1M | $9.4M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 792.04 | +0.046% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 791.19 | −0.061% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 791.09 | −0.074% | $380K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0117% | 1h | 789.61 | −0.260% | $170K | $35K | 10x | as long as short |
| dYdX BNB-USD | +0.0133% | 1h | 791.21 | −0.059% | $160K | $64K | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0139% | 8h | 789.87 | −0.227% | $2.9M | $28.3M | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0180% | 8h | 791.60 | −0.009% | $125K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0185% | 8h | 791.14 | −0.067% | $18.1M | $2.2M | 75x | as long as short |
| 01 Exchange BNBUSD | +0.0232% | 1h | 792.23 | +0.071% | $28K | $4K | 10x | as long as short |
| Bulk BNB-USD | +0.0245% | 1h | 789.82 | −0.234% | $640K | $9K | 10x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0263% | 1h | 791.10 | −0.073% | $2.5M | $1.2M | 50x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 791.56 | −0.015% | $1.5M | $143K | 25x | as long as short |
| Reya BNBRUSDPERP | +0.0326% | 1h | 791.30 | −0.046% | $6K | $3K | 40x | as long as short |
| Hibachi BNB/USDT-P | +0.0448% | 1h | 790.70 | −0.123% | $68K | $38K | 12x | as long as short |
| RISEx BNB/USDC | +0.0461% | 1h | 791.92 | +0.032% | $1.1M | $973K | 20x | as long as short |
Binance BNBUSDT
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Variational Omni BNB
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
Phoenix BNB
dYdX BNB-USD
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
BloFin BNB-USDT
01 Exchange BNBUSD
Bulk BNB-USD
Kraken Futures PF_BNBUSD
Deribit BNB_USDC-PERPETUAL
Reya BNBRUSDPERP
Hibachi BNB/USDT-P
RISEx BNB/USDC