Funding you earn now, next payment 12:00 UTC−0.0227%/8h= −24.9% APRnext payment −$0.28 per $10,000 · paid last 24h −0.031%
Price spread now: Backpack against dYdX−0.003%7-day average +0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$47as in the Price arb table
costs, in and out, $10k−$420.420% of the position
Funding, last 7 days−0.318%−$32 on $10k
+Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.003%, 7d avg +0.051%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Backpack is 0.055% cheaper against dYdX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.051%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | dYdX BNB-USD | 785.90 | 0.0327 | pay 0.0041% / 1h | 50m 10s | $158K | $34K | 10x |
| Short | Backpack BNB_USDC_PERP | 785.87 | 0.0100 | get 0.0013% / 1h | 50m 10s | $2.2M | $6.0M | 40x |
dYdX BNB-USD
Backpack BNB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against dYdX. 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
- −$47.69
- Price spread: −0.003% → +0.051%
- −$5.46
- Slippage, 4 orders
- −$22
- Fee dYdX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$95.15
- Costs to cover
- 0.420%
- Break-even
- never at this rate
Slippage from dYdX: live order book, 57 min ago; Backpack: live order book, 2 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 dYdX live order book, 57 min ago | 10.27 bp | 15.3 bp −$15 | 23.8 bp −$238 | 24.7 bp −$2,468 | 60.7 bp −$30.3K |
| Sell Backpack live order book, 2 min ago | 0.06 bp | 6.0 bp −$6 | 8.9 bp −$89 | doesn't fit | doesn't fit |
BNB on 46 exchanges
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 −0.0166% / S +0.0336% | 1h | 786.31 | +0.053% | $43K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0138% | 1h | 785.54 | −0.045% | $2.6M | $1.4M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 786.45 | +0.071% | $4K | — | 25x | as long as short |
| Bybit BNBUSDT | −0.0058% | 8h | 785.00 | −0.114% | $138.5M | $66.1M | 75x | as long as short |
| BingX BNB-USDT | −0.0050% | 8h | 785.65 | −0.031% | — | $50.3M | — | as long as short |
| Aster BNBUSDT | 0.0000% | 8h | 785.96 | +0.008% | $5.9M | $16.8M | 200x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 787.72 | +0.232% | $2.9M | $26.7M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 786.50 | +0.077% | $153K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 786.90 | +0.128% | $849K | $3.0M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 786.23 | +0.043% | $9.5M | — | 150x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Bybit BNBUSDT
BingX BNB-USDT
Aster BNBUSDT
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USDShow all 46 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC BNB_USDT | +0.0008% | 8h | 786.90 | +0.128% | $83.3M | $11.5M | 200x | as long as short |
| Binance BNBUSDT | +0.0008% | 8h | 785.97 | +0.009% | $479.9M | $753.5M | 75x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.442% | $19K | $789K | 30x | as long as short |
| BloFin BNB-USDT | +0.0037% | 8h | 786.54 | +0.082% | $18.5M | $2.3M | 75x | as long as short |
| Phemex BNBUSDT | +0.0077% | 8h | 785.85 | −0.006% | $68.2M | $50.3M | 50x | as long as short |
| Variational Omni BNB | +0.0087% | 8h | 785.24 | −0.083% | $4.3M | $4.3M | — | as long as short |
| Lighter BNB | +0.0096% | 1h | 785.74 | −0.020% | $2.7M | $2.9M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 786.05 | +0.020% | $1.3M | $2.3M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 786.08 | +0.023% | $52.0M | $16.4M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 786.07 | +0.022% | $1.2M | $928K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 785.20 | −0.089% | $53.4M | $100.1M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.30 | +0.051% | $57K | $124K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 785.40 | −0.063% | $42.1M | $51.7M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 785.68 | −0.027% | $28.1M | $9.6M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 785.00 | −0.114% | $75.4M | $30.7M | 75x | as long as short |
| Backpack BNB_USDC_PERPshort | +0.0100% | 1h | 785.87 | −0.003% | $2.2M | $6.0M | 40x | |
| edgeX BNBUSDC | +0.0100% | 4h | 787.64 | +0.222% | $4.1M | $71.4M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 787.46 | +0.199% | $158K | $459K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 786.20 | +0.039% | $126K | $909K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 785.92 | +0.003% | $264K | $258K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 785.97 | +0.009% | $31K | $10K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.62 | +0.092% | $12K | $1.3M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 786.10 | +0.026% | $386K | $923K | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0100% | 1h | 786.17 | +0.034% | $1.5M | $126K | 25x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 785.99 | +0.012% | $8.0M | $9.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 786.46 | +0.072% | $78K | $1.3M | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 785.28 | −0.079% | $1.8M | $5.5M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 785.85 | −0.006% | $377K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0116% | 1h | 787.45 | +0.198% | $158K | $45K | 10x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0136% | 1h | 785.93 | +0.004% | $537K | $1.9M | 50x | as long as short |
| 01 Exchange BNBUSD | +0.0256% | 1h | 786.93 | +0.132% | $28K | $3K | 10x | as long as short |
| Hibachi BNB/USDT-P | +0.0272% | 1h | 786.13 | +0.030% | $67K | $34K | 12x | as long as short |
| Bulk BNB-USD | +0.0274% | 1h | 787.88 | +0.252% | $638K | $10K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0315% | 1h | 785.83 | −0.009% | $6K | $3K | 40x | as long as short |
| dYdX BNB-USDlong | +0.0327% | 1h | 785.90 | long leg | $158K | $34K | 10x | |
| RISEx BNB/USDC | +0.0391% | 1h | 786.48 | +0.074% | $1.1M | $939K | 20x | as long as short |
MEXC BNB_USDT
Binance BNBUSDT
Injective BNB/USDC PERP
BloFin BNB-USDT
Phemex BNBUSDT
Variational Omni BNB
Lighter BNB
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
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
Deribit BNB_USDC-PERPETUAL
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Coinbase International BNB-PERP-INTX
01 Exchange BNBUSD
Hibachi BNB/USDT-P
Bulk BNB-USD
Reya BNBRUSDPERP
RISEx BNB/USDC