Funding you earn now, next payment 08:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h −0.006%
Price spread now: Binance against Backpack−0.006%7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.200% of the position
Funding, last 7 days+0.124%+$12 on $10k
+Price spread, last 7 days+0.506%+$51 · spread now −0.006%, 7d avg −0.011%
=| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BTC_USDC_PERP | 85,158.9 | 0.0100 | pay 0.0013% / 1h | 24m 25s | $36.9M | $187.8M | 75x |
| Short | Binance BTCUSDT | 85,153.8 | 0.0099 | get 0.0099% / 8h | 24m 25s | $9.37B | $25.13B | 150x |
Backpack BTC_USDC_PERP
Binance BTCUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Backpack. 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
- −$0.18
- Price spread: −0.006% → −0.011%
- $0.48
- Slippage, 4 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$19.72
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 5 min ago; Binance: 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 Backpack live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 6.0 bp −$600 | 223.1 bp −$111.6K |
| Sell Binance live order book, 5 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.2 bp −$516 | 6.9 bp −$3,467 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,209 | +0.059% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,296 | +0.161% | $2.3M | $10.8M | 40x | as long as short |
| BloFin BTC-USDT | −0.0021% | 8h | 85,180.8 | +0.026% | $421.6M | $683.9M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0019% | 8h | 85,142.6 | −0.019% | $926.8M | $777.5M | 125x | as long as short |
| Aster BTCUSDT | −0.0003% | 8h | 85,149 | −0.012% | $508.9M | $1.08B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,165.7 | +0.008% | $342K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,188.3 | +0.035% | $36.4M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0006% | 1h | 85,179.3 | +0.024% | $16.7M | $21.0M | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,169 | +0.012% | $185.6M | $955.2M | 100x | as long as short |
| ApeX Omni BTCUSDT | +0.0040% | 1h | 85,299.6 | +0.165% | $139.7M | $312.6M | 100x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
BloFin BTC-USDT
KuCoin XBTUSDTM
Aster BTCUSDT
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Kraken Futures PF_XBTUSD
ApeX Omni BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0064% | 8h | 85,123.9 | −0.041% | — | $17.4M | — | as long as short |
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,248 | +0.105% | $302K | $25.3M | 52x | as long as short |
| Bybit BTCUSDT | +0.0080% | 8h | 85,147.3 | −0.014% | $5.11B | $10.02B | 150x | as long as short |
| Nado BTC-PERP | +0.0083% | 1h | 85,159.9 | +0.001% | $24.0M | $220.7M | 50x | as long as short |
| Bitget BTCUSDT | +0.0094% | 8h | 85,158 | −0.001% | $2.97B | $5.19B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,171.4 | +0.015% | $168.4M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,165.9 | +0.008% | $23.5M | $148.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,158 | −0.001% | $8.4M | $57.6M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,148.8 | −0.012% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0099% | 8h | 85,153.9 | −0.006% | $5.03B | $5.76B | 500x | as long as short |
| Binance BTCUSDTshort | +0.0099% | 8h | 85,153.8 | −0.006% | $9.37B | $25.13B | 150x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,131 | −0.033% | $269K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,208.9 | +0.059% | $5.8M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,231 | +0.085% | $3.74B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,187 | +0.033% | $40.3M | $606.1M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,156 | −0.003% | $2.59B | $12.23B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,156 | −0.003% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,172.3 | +0.016% | $4.6M | $97.2M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,294.4 | +0.159% | $693.5M | $241.4M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,152.9 | −0.007% | $5.47B | $11.11B | 200x | as long as short |
| Backpack BTC_USDC_PERPlong | +0.0100% | 1h | 85,158.9 | long leg | $36.9M | $187.8M | 75x | |
| Variational Omni BTC | +0.0100% | 8h | 85,162.5 | +0.004% | $155.8M | $550.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,270.9 | +0.131% | $282.8M | $955.6M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,278 | +0.140% | $214.2M | $159.0M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,260.1 | +0.119% | $30.0M | $211.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,223 | +0.075% | — | $10.6M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,160 | +0.001% | $10.9M | $14.9M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,156.1 | −0.003% | $198K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,159.1 | 0.000% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,187.2 | +0.033% | $193K | $796K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,139.3 | −0.023% | $29.6M | $45.7M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,148.4 | −0.012% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,154 | −0.006% | $59.7M | $336.6M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,169.8 | +0.013% | $2.25B | $970.2M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,173.3 | +0.017% | $158.8M | $516.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,131.3 | −0.032% | $45.4M | $241.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,159.1 | 0.000% | — | $106.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,190.2 | +0.037% | $111.6M | $5.47B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0141% | 1h | 85,145.9 | −0.015% | $6.6M | $143.8M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0171% | 8h | 85,201 | +0.049% | $12.0M | $737.2M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,172.8 | +0.016% | $8.8M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0147% | 1h | 85,186.4 | +0.032% | $13.0M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0183% | 1h | 85,197.3 | +0.045% | $841.1M | $1.66B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0224% | 1h | 85,224.1 | +0.077% | $681K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0290% | 1h | 85,239.4 | +0.095% | $81K | $254K | 20x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,184 | +0.029% | $457K | $18.4M | 6.7x | as long as short |
BingX BTC-USDC
Injective BTC/USDC PERP
Bybit BTCUSDT
Nado BTC-PERP
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
Perpl BTC