BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0221%/8h= +24.2% APRnext payment +$0.28 per $10,000 · paid last 24h +0.036%

Price spread now: Backpack against Aevo+0.111%46s7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$750.752% of the position

Long on Aevo Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 3 days (all we have)−0.029%−$3 · spread now +0.111%, 7d avg +0.045%

Together, before fees+0.066%+$7 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 0.066% dearer against Aevo than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.045%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.095% in total (about 5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 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	Aevo BNB-PERP	802.36	0.0104	pay 0.0013% / 1h	49m 10s	$385K	$40K	10x
Short	Backpack BNB_USDC_PERP	803.25	0.0325	get 0.0041% / 1h	49m 10s	$2.7M	$5.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aevo. 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 AevobpFee BackpackbpOrdersPrice spread, now +0.111%Rate

Funding earned: $46.45
Price spread: +0.111% → +0.045%: $6.6
Slippage, 4 orders: −$49.19
Fee Aevo: 8 bp × 2 orders: −$16
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$22.14
Costs to cover: 0.752%
Break-even: 10.3 days

Slippage from Aevo: live order book, 30 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 Aevo live order book, 30 min ago	11.55 bp	37.7 bp −$38	44.4 bp −$444	65.8 bp −$6,583	doesn't fit
Sell Backpack live order book, 5 min ago	0.06 bp	6.7 bp −$7	9.6 bp −$96	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	802.55	+0.024%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.96	+0.074%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	802.50	+0.017%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.04	+0.084%	$3.0M	$28.1M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.66	+0.162%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.66	+0.037%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0029%	8h	802.05	−0.039%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	802.67	+0.038%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0064%	8h	802.11	−0.031%	$139.4M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.205%	$607K	$996K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	802.81	+0.055%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERP	+0.0100%	1h	802.25	−0.014%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.93	+0.071%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.20	−0.020%	$54.7M	$113.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.00	+0.079%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.45	+0.011%	$35.9M	$57.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.34	−0.003%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.02	−0.043%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.14	+0.097%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.77	+0.051%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.41	+0.006%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	802.27	−0.012%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.45	+0.010%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.28	+0.114%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.44	+0.010%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.24	+0.109%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0104%	8h	803.06	+0.087%	$6.3M	$19.0M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.00	−0.045%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERPlong	+0.0104%	1h	802.36	long leg	$385K	$40K	10x
Kalshi KXBNBPERP	+0.0113%	8h	802.90	+0.067%	$110K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0113%	8h	802.94	+0.072%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.40	+0.129%	$83.5M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.08	+0.089%	$502.3M	$818.1M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.03	+0.083%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0147%	1h	802.60	+0.030%	$395K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	802.79	+0.053%	$1.6M	$165K	25x	as long as short
Hibachi BNB/USDT-P	+0.0240%	1h	802.77	+0.051%	$71K	$49K	12x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.14	+0.097%	$18.2M	$2.6M	75x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.77	+0.051%	$1.1M	$1.4M	20x	as long as short
Hyperliquid BNB	+0.0262%	1h	803.26	+0.112%	$52.0M	$21.4M	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.340%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0309%	1h	803.58	+0.152%	$653K	$20K	10x	as long as short
Backpack BNB_USDC_PERPshort	+0.0325%	1h	803.25	+0.111%	$2.7M	$5.7M	40x
Reya BNBRUSDPERP	+0.0332%	1h	802.13	−0.029%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0392%	1h	803.31	+0.118%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0469%	1h	802.89	+0.065%	$162K	$62K	10x	as long as short