BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h +0.040%

Price spread now: dYdX against Backpack+0.014%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on Backpack Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.304%+$30 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.014%, 7d avg −0.052%

Together, before fees+0.266%+$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.067% dearer against Backpack than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack BNB_USDC_PERP	787.64	0.0100	pay 0.0013% / 1h	57m 28s	$2.2M	$6.1M	40x
Short	dYdX BNB-USD	787.75	0.0092	get 0.0011% / 1h	57m 28s	$160K	$62K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$1.78
Price spread: +0.014% → −0.052%: $6.67
Slippage, 4 orders: −$42.2
Fee Backpack: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$57.31
Costs to cover: 0.622%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; dYdX: live order book, 51 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, 2 min ago	0.06 bp	5.3 bp −$5	7.6 bp −$76	doesn't fit	doesn't fit
Sell dYdX live order book, 51 min ago	11.80 bp	25.5 bp −$25	67.8 bp −$678	112.2 bp −$11.2K	148.7 bp −$74.4K

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 −0.0192% / S +0.0356%	1h	786.79	−0.108%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.11	+0.060%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.58	+0.119%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.76	−0.111%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.215%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0046%	8h	787.50	−0.018%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0053%	8h	787.38	−0.033%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0066%	8h	787.83	+0.024%	$68.9M	$50.9M	50x	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.80	+0.020%	$80.9M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	787.39	−0.032%	$490.0M	$815.7M	75x	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	+0.0080%	1h	788.38	+0.094%	$569K	$1.9M	50x	as long as short
dYdX BNB-USDshort	+0.0092%	1h	787.75	+0.014%	$160K	$62K	10x
Lighter BNB	+0.0096%	1h	787.16	−0.061%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.82	−0.104%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.60	−0.132%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	787.38	−0.032%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.77	−0.110%	$138.4M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.70	−0.119%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.00	−0.081%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.90	−0.094%	$36.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.62	−0.130%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.50	−0.145%	$76.1M	$31.1M	75x	as long as short
Backpack BNB_USDC_PERPlong	+0.0100%	1h	787.64	long leg	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	787.80	+0.021%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	+0.018%	$4.1M	$75.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.40	+0.096%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.78	−0.109%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.39	−0.031%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.29	+0.083%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.30	−0.043%	$387K	$987K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.50	−0.018%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	787.57	−0.008%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.37	−0.161%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.96	−0.086%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.80	+0.020%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0136%	8h	788.20	+0.071%	$169K	$2.7M	4.8x	as long as short
Hyperliquid BNB	+0.0171%	1h	787.64	0.000%	$51.6M	$17.7M	10x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.88	+0.030%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.58	−0.008%	$1.5M	$143K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	787.08	−0.071%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0225%	8h	788.63	+0.126%	$2.9M	$29.6M	10x	as long as short
01 Exchange BNBUSD	+0.0288%	1h	787.42	−0.028%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.65	−0.125%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0339%	1h	788.57	+0.118%	$639K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.07	−0.073%	$1.1M	$910K	20x	as long as short
Hibachi BNB/USDT-P	+0.0568%	1h	787.53	−0.014%	$67K	$39K	12x	as long as short