Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.047%

Price spread now: Backpack against Pacifica+0.014%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Pacifica Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 7 days+0.115%+$11 · spread now +0.014%, 7d avg +0.084%

Together, before fees+0.221%+ Points / potential airdropPacifica: Active · 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 0.070% cheaper against Pacifica than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica BNB	788.38	0.0100	pay 0.0013% / 1h	34m 18s	$1.2M	$931K	20x
Short	Backpack BNB_USDC_PERP	788.49	0.0100	get 0.0013% / 1h	34m 18s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.084%: −$7
Slippage, 4 orders: −$5.42
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$30.43
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from Pacifica: live order book, 5 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 Pacifica live order book, 5 min ago	1.46 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 5 min ago	0.06 bp	5.5 bp −$5	9.4 bp −$94	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 −0.0192% / S +0.0356%	1h	787.95	−0.054%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.92	−0.058%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.31	−0.009%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.50	+0.015%	$127K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.73	+0.044%	$851K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.91	−0.059%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0030%	8h	788.67	+0.037%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.120%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0042%	8h	788.15	−0.029%	—	$22.4M	—	as long as short
Binance BNBUSDT	+0.0050%	8h	788.56	+0.023%	$491.9M	$798.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0051%	8h	788.90	+0.066%	$80.0M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0054%	8h	788.58	+0.025%	$69.0M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.238%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	788.77	+0.049%	$169K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	788.29	−0.011%	$2.7M	$3.8M	20x	as long as short
dYdX BNB-USD	+0.0099%	1h	788.56	+0.023%	$160K	$64K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.97	−0.052%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.00	−0.048%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.68	+0.038%	$51.7M	$17.5M	10x	as long as short
Pacifica BNBlong	+0.0100%	1h	788.38	long leg	$1.2M	$931K	20x
Bybit BNBUSDT	+0.0100%	8h	787.90	−0.061%	$138.6M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.90	−0.061%	$53.4M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	−0.023%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.95	−0.055%	$35.8M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.83	−0.070%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.70	−0.086%	$76.3M	$30.5M	75x	as long as short
Backpack BNB_USDC_PERPshort	+0.0100%	1h	788.49	+0.014%	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	787.71	−0.085%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.75	+0.048%	$4.1M	$73.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.75	+0.047%	$159K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.89	−0.062%	$130K	$953K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.09	−0.037%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.63	+0.032%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.20	−0.023%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.97	−0.052%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.43	+0.006%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.62	−0.096%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.13	−0.032%	$379K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0171%	8h	788.59	+0.027%	$18.1M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0172%	8h	788.76	+0.048%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0234%	1h	788.73	+0.045%	$639K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.62	+0.030%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.41	+0.003%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	787.70	−0.086%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	788.18	−0.025%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	788.44	+0.008%	$1.1M	$892K	20x	as long as short