BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0565%/8h= −61.9% APRnext payment −$0.71 per $10,000 · paid last 24h −0.025%

Price spread now: Arcus against Backpack−0.089%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Backpack Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.089%, 7d avg +0.047%

Together, before fees+0.203%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Arcus is 0.136% cheaper against Backpack than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.047%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.031% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.71 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	Backpack BNB_USDC_PERP	801.91	0.0665	pay 0.0083% / 1h	30m 17s	$3.0M	$5.5M	40x
Short	Arcus BNB-USD	801.20	0.0100	get 0.0013% / 1h	30m 17s	$53K	$170K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Backpack. 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 BackpackbpFee ArcusbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$118.73
Price spread: −0.089% → +0.047%: −$13.6
Slippage, 4 orders: −$22.88
Fee Backpack: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$169.7
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Arcus: live order book, 53 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, 4 min ago	0.06 bp	11.2 bp −$11	18.2 bp −$182	doesn't fit	doesn't fit
Sell Arcus live order book, 53 min ago	6.20 bp	11.2 bp −$11	23.2 bp −$232	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	800.91	−0.124%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.22	−0.086%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.39	+0.434%	$3.0M	$29.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.50	−0.051%	$158K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.20	+0.036%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.92	−0.123%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0040%	8h	800.85	−0.132%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0067%	8h	801.19	−0.090%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0081%	8h	800.60	−0.163%	$139.5M	$83.0M	75x	as long as short
Lighter BNB	+0.0096%	1h	801.33	−0.072%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.19	−0.090%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0099%	8h	801.21	−0.087%	$6.4M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.51	−0.174%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.91	−0.125%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.70	−0.151%	$54.8M	$117.3M	50x	as long as short
Arcus BNB-USDshort	+0.0100%	1h	801.20	−0.089%	$53K	$170K	10x
Gate BNB_USDT	+0.0100%	8h	800.60	−0.163%	$35.8M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.68	−0.153%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.64	−0.158%	$81.0M	$26.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	802.78	+0.109%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.46	+0.069%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.75	−0.145%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.91	−0.125%	$387K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.14	−0.096%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.57	−0.043%	$12K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.56	−0.044%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.52	−0.049%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.60	−0.164%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.11	−0.100%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.90	−0.001%	$83.4M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.68	−0.029%	$517.1M	$829.3M	75x	as long as short
Phemex BNBUSDT	+0.0130%	8h	801.50	−0.051%	$70.0M	$51.7M	50x	as long as short
SoDEX BNB-USD	+0.0131%	1h	801.10	−0.101%	$394K	$1.0M	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	801.47	−0.055%	$71K	$48K	12x	as long as short
Phoenix BNB	+0.0155%	1h	804.78	+0.358%	$173K	$35K	10x	as long as short
dYdX BNB-USD	+0.0167%	1h	800.67	−0.155%	$161K	$62K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	801.35	−0.070%	$1.6M	$165K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.11	−0.100%	$2.6M	$983K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.60	−0.039%	$18.8M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0267%	1h	801.90	−0.001%	$51.9M	$22.2M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.397%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	800.97	−0.118%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.60	−0.164%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	801.54	−0.046%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0354%	1h	801.59	−0.040%	$651K	$21K	10x	as long as short
Backpack BNB_USDC_PERPlong	+0.0665%	1h	801.91	long leg	$3.0M	$5.5M	40x