BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0243%/8h= +26.6% APRnext payment +$0.30 per $10,000 · paid last 24h +0.030%

Price spread now: Backpack against SoDEX+0.070%7-day average +0.036% · 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−$18as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on SoDEX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 3 days (all we have)+0.015%+$2 · spread now +0.070%, 7d avg +0.036%

Together, before fees+0.043%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Backpack is 0.035% dearer against SoDEX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.036%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.028% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX BNB-USD	798.80	0.0100	pay 0.0013% / 1h	7m 46s	$393K	$1.0M	10x
Short	Backpack BNB_USDC_PERP	799.36	0.0343	get 0.0043% / 1h	7m 46s	$2.7M	$5.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SoDEX. 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 SoDEXbpFee BackpackbpOrdersPrice spread, now +0.070%Rate

Funding earned: $51.03
Price spread: +0.070% → +0.036%: $3.46
Slippage, 4 orders: −$3.28
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $33.21
Costs to cover: 0.213%
Break-even: 2.4 days

Slippage from SoDEX: live order book, 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 SoDEX live order book, 1 min ago	0.63 bp	5.0 bp −$5	9.2 bp −$92	83.0 bp −$8,301	doesn't fit
Sell Backpack live order book, 1 min ago	0.06 bp	6.1 bp −$6	9.1 bp −$91	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 −0.0201% / S +0.0372%	1h	798.59	−0.026%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.54	−0.033%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.47	−0.041%	$2.5M	$974K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.45	−0.044%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.90	+0.013%	$863K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.56	−0.030%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0008%	8h	797.53	−0.158%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0033%	8h	798.39	−0.051%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0037%	8h	798.10	−0.088%	$138.5M	$76.8M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.14	−0.083%	$601K	$984K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0080%	8h	798.77	−0.004%	$6.2M	$19.1M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.51	−0.037%	$2.8M	$4.1M	20x	as long as short
Phemex BNBUSDT	+0.0097%	8h	799.03	+0.029%	$69.9M	$50.6M	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.15	−0.081%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.40	−0.050%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.10	−0.088%	$54.3M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.50	−0.038%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.15	−0.081%	$35.7M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.48	−0.040%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.25	−0.069%	$79.0M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.97	+0.021%	$4.1M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.19	+0.049%	$161K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.38	−0.053%	$116K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.41	−0.049%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.67	−0.017%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.08	+0.035%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USDlong	+0.0100%	1h	798.80	long leg	$393K	$1.0M	10x
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	798.97	+0.021%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.43	−0.047%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.79	−0.001%	$78K	$19K	50x	as long as short
Binance BNBUSDT	+0.0101%	8h	798.76	−0.005%	$497.5M	$817.7M	75x	as long as short
MEXC BNB_USDT	+0.0102%	8h	799.20	+0.050%	$83.0M	$13.6M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	798.14	−0.082%	$1.7M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.73	−0.009%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	799.20	+0.050%	$172K	$36K	10x	as long as short
Kalshi KXBNBPERP	+0.0145%	8h	799.00	+0.025%	$90K	$2.9M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0160%	1h	798.58	−0.028%	$70K	$43K	12x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	+0.003%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0223%	8h	798.84	+0.005%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0234%	1h	799.11	+0.039%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	798.28	−0.065%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	799.01	+0.026%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.787%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.11	−0.087%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0338%	1h	798.04	−0.096%	$161K	$63K	10x	as long as short
Backpack BNB_USDC_PERPshort	+0.0343%	1h	799.36	+0.070%	$2.7M	$5.7M	40x