Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.056%
Price spread now: Bybit against Backpack−0.068%7-day average −0.152% · you buy dearer than you sell
Net, funding: paid 7d − costs−$47as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$250.245% of the position
Funding, last 7 days−0.228%−$23 on $10k
+Price spread, last 7 days+0.159%+$16 · spread now −0.068%, 7d avg −0.152%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.084% dearer against Backpack than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.152%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BNB_USDC_PERP | 788.64 | 0.0100 | pay 0.0013% / 1h | 38m 33s | $2.2M | $6.1M | 40x |
| Short | Bybit BNBUSDT | 788.10 | 0.0100 | get 0.0100% / 8h | 5h 38m | $138.6M | $77.4M | 75x |
Backpack BNB_USDC_PERP
Bybit BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- Price spread: −0.068% → −0.152%
- $8.37
- Slippage, 4 orders
- −$3.55
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$16.18
- Costs to cover
- 0.245%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 1 min ago; Bybit: live order book, 6 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, 1 min ago | 0.06 bp | 5.7 bp −$6 | 7.6 bp −$76 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 6 min ago | 0.63 bp | 7.4 bp −$7 | 11.4 bp −$114 | 33.7 bp −$3,369 | 118.8 bp −$59.4K |
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 −0.0167% / S +0.0335% | 1h | 788.15 | −0.062% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 788.89 | +0.032% | $4K | $239 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 789.21 | +0.072% | $853K | $3.2M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 788.21 | −0.055% | $9.6M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.086% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0042% | 8h | 788.89 | +0.032% | $6.3M | $18.7M | 200x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0048% | 1h | 789.09 | +0.057% | $618K | $1.8M | 50x | as long as short |
| BingX BNB-USDT | +0.0058% | 8h | 788.68 | +0.005% | — | $34.4M | — | as long as short |
| MEXC BNB_USDT | +0.0074% | 8h | 789.50 | +0.109% | $80.3M | $12.4M | 200x | as long as short |
| Binance BNBUSDT | +0.0075% | 8h | 788.77 | +0.016% | $493.2M | $805.2M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
Coinbase International BNB-PERP-INTX
BingX BNB-USDT
MEXC BNB_USDT
Binance BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BNBUSDT | +0.0078% | 8h | 788.85 | +0.027% | $69.1M | $51.0M | 50x | as long as short |
| Variational Omni BNB | +0.0086% | 8h | 787.60 | −0.132% | $4.1M | $4.6M | — | as long as short |
| Kraken Futures PF_BNBUSD | +0.0091% | 1h | 788.10 | −0.068% | $2.5M | $1.2M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 788.80 | +0.021% | $2.8M | $3.9M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 788.25 | −0.049% | $265K | $497K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 788.05 | −0.075% | $1.5M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 789.18 | +0.068% | $51.7M | $18.1M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 788.71 | +0.009% | $1.2M | $908K | 20x | as long as short |
| Bybit BNBUSDTshort | +0.0100% | 8h | 788.10 | −0.068% | $138.6M | $77.4M | 75x | |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 788.00 | −0.081% | $53.5M | $112.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 788.70 | +0.008% | $52K | $130K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 788.40 | −0.030% | $35.3M | $56.8M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 788.42 | −0.028% | $27.7M | $10.4M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 788.27 | −0.047% | $76.8M | $30.0M | 75x | as long as short |
| Backpack BNB_USDC_PERPlong | +0.0100% | 1h | 788.64 | long leg | $2.2M | $6.1M | 40x | |
| edgeX BNBUSDC | +0.0100% | 4h | 788.57 | −0.009% | $4.1M | $76.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 788.87 | +0.029% | $159K | $439K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 788.26 | −0.048% | $137K | $946K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 788.45 | −0.024% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 788.90 | +0.033% | $12K | $1.6M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 788.42 | −0.028% | $8.1M | $9.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0103% | 8h | 789.22 | +0.074% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 788.18 | −0.058% | $1.8M | $5.9M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 788.32 | −0.040% | $379K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0107% | 1h | 789.13 | +0.062% | $170K | $35K | 10x | as long as short |
| GRVT BNB_USDT_Perp | +0.0132% | 8h | 789.50 | +0.109% | $2.9M | $28.2M | 10x | as long as short |
| SoDEX BNB-USD | +0.0145% | 1h | 788.40 | −0.030% | $388K | $1.0M | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0186% | 8h | 788.90 | +0.033% | $95K | $2.8M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0195% | 8h | 788.79 | +0.019% | $18.1M | $2.3M | 75x | as long as short |
| dYdX BNB-USD | +0.0238% | 1h | 788.16 | −0.061% | $159K | $63K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 788.68 | +0.005% | $1.5M | $152K | 25x | as long as short |
| 01 Exchange BNBUSD | +0.0304% | 1h | 789.02 | +0.048% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0328% | 1h | 788.15 | −0.063% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0361% | 1h | 788.82 | +0.023% | $1.1M | $1.0M | 20x | as long as short |
| Bulk BNB-USD | +0.0373% | 1h | 788.05 | −0.074% | $638K | $13K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0584% | 1h | 789.00 | +0.045% | $67K | $38K | 12x | as long as short |
Phemex BNBUSDT
Variational Omni BNB
Kraken Futures PF_BNBUSD
Lighter BNB
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
GRVT BNB_USDT_Perp
SoDEX BNB-USD
Kalshi KXBNBPERP
BloFin BNB-USDT
dYdX BNB-USD
Deribit BNB_USDC-PERPETUAL
01 Exchange BNBUSD
Reya BNBRUSDPERP
RISEx BNB/USDC
Bulk BNB-USD
Hibachi BNB/USDT-P