Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.056%
Price spread now: Backpack against Bybit+0.057%7-day average +0.159% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$240.237% of the position
Funding, last 7 days+0.228%+$23 on $10k
+Price spread, last 7 days+0.121%+$12 · spread now +0.057%, 7d avg +0.159%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.101% cheaper against Bybit than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.159%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit BNBUSDT | 787.00 | 0.0100 | pay 0.0100% / 8h | 3h 00m | $138.3M | $74.1M | 75x |
| Short | Backpack BNB_USDC_PERP | 787.45 | 0.0100 | get 0.0013% / 1h | 0m 44s | $2.2M | $6.1M | 40x |
Bybit BNBUSDT
Backpack BNB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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: +0.057% → +0.159%
- −$10.14
- Slippage, 4 orders
- −$2.68
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$33.82
- Costs to cover
- 0.237%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 3 min ago; Backpack: live order book, 3 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 Bybit live order book, 3 min ago | 0.63 bp | 6.3 bp −$6 | 8.6 bp −$86 | 24.5 bp −$2,453 | 174.6 bp −$87.3K |
| Sell Backpack live order book, 3 min ago | 0.06 bp | 5.4 bp −$5 | 9.3 bp −$93 | 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 −0.0192% / S +0.0356% | 1h | 787.00 | −0.001% | $46K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0124% | 1h | 786.99 | −0.001% | $2.5M | $1.2M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.31 | +0.039% | $4K | $42 | 25x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 787.60 | +0.076% | $122K | $2.7M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.31 | +0.039% | $849K | $3.1M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 787.00 | 0.000% | $9.5M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0024% | 8h | 787.51 | +0.065% | $6.1M | $19.1M | 200x | as long as short |
| BingX BNB-USDC | +0.0033% | 8h | 787.22 | +0.028% | — | $13.4M | — | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.299% | $19K | $789K | 30x | as long as short |
| MEXC BNB_USDT | +0.0044% | 8h | 788.00 | +0.127% | $79.9M | $12.1M | 200x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
BingX BNB-USDC
Injective BNB/USDC PERP
MEXC BNB_USDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance BNBUSDT | +0.0046% | 8h | 787.56 | +0.071% | $490.2M | $804.4M | 75x | as long as short |
| Phemex BNBUSDT | +0.0051% | 8h | 787.62 | +0.079% | $68.9M | $50.7M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0072% | 1h | 787.21 | +0.027% | $579K | $1.9M | 50x | as long as short |
| dYdX BNB-USD | +0.0083% | 1h | 786.57 | −0.055% | $159K | $61K | 10x | as long as short |
| Phoenix BNB | +0.0092% | 1h | 787.26 | +0.033% | $169K | $35K | 10x | as long as short |
| Lighter BNB | +0.0096% | 1h | 787.06 | +0.007% | $2.7M | $3.9M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 787.08 | +0.010% | $265K | $491K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 786.55 | −0.057% | $1.5M | $2.6M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 787.45 | +0.057% | $51.6M | $17.5M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 787.25 | +0.032% | $1.2M | $934K | 20x | as long as short |
| Bybit BNBUSDTlong | +0.0100% | 8h | 787.00 | long leg | $138.3M | $74.1M | 75x | |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.80 | −0.025% | $53.4M | $111.5M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 787.30 | +0.038% | $52K | $133K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.95 | −0.006% | $36.2M | $58.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 786.75 | −0.032% | $27.6M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 786.70 | −0.038% | $76.1M | $30.7M | 75x | as long as short |
| Backpack BNB_USDC_PERPshort | +0.0100% | 1h | 787.45 | +0.057% | $2.2M | $6.1M | 40x | |
| Variational Omni BNB | +0.0100% | 8h | 786.81 | −0.024% | $4.1M | $4.6M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 787.45 | +0.057% | $4.1M | $74.5M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 787.41 | +0.052% | $158K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 786.99 | −0.001% | $132K | $956K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 787.14 | +0.018% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 787.77 | +0.098% | $12K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 787.20 | +0.025% | $387K | $1.0M | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.86 | −0.018% | $8.1M | $9.7M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 787.46 | +0.059% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 786.69 | −0.040% | $1.8M | $6.3M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 787.28 | +0.036% | $378K | $110K | 10x | as long as short |
| BloFin BNB-USDT | +0.0164% | 8h | 787.75 | +0.095% | $17.7M | $2.2M | 75x | as long as short |
| GRVT BNB_USDT_Perp | +0.0185% | 8h | 787.96 | +0.122% | $2.9M | $28.9M | 10x | as long as short |
| Bulk BNB-USD | +0.0223% | 1h | 788.23 | +0.156% | $639K | $10K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0248% | 1h | 787.77 | +0.098% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0324% | 1h | 786.80 | −0.025% | $6K | $3K | 40x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0400% | 1h | 787.54 | +0.069% | $1.5M | $143K | 25x | as long as short |
| RISEx BNB/USDC | +0.0431% | 1h | 787.38 | +0.048% | $1.1M | $907K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0440% | 1h | 786.89 | −0.014% | $67K | $39K | 12x | as long as short |
Binance BNBUSDT
Phemex BNBUSDT
Coinbase International BNB-PERP-INTX
dYdX BNB-USD
Phoenix BNB
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
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
BloFin BNB-USDT
GRVT BNB_USDT_Perp
Bulk BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
Deribit BNB_USDC-PERPETUAL
RISEx BNB/USDC
Hibachi BNB/USDT-P