Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.049%
Price spread now: Backpack against Lighter+0.034%7-day average +0.127% · 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−$25as in the Price arb table
costs, in and out, $10k−$160.160% of the position
Funding, last 7 days+0.175%+$17 on $10k
+Price spread, last 7 days+0.154%+$15 · spread now +0.034%, 7d avg +0.127%
=Together, before fees+0.329%+ Points / potential airdropLighter: Season 3 · farm board+$33 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: Backpack is 0.093% cheaper against Lighter than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.127%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BNB | 787.95 | 0.0096 | pay 0.0012% / 1h | 11m 48s | $2.7M | $3.8M | 20x |
| Short | Backpack BNB_USDC_PERP | 788.21 | 0.0100 | get 0.0013% / 1h | 11m 48s | $2.2M | $6.1M | 40x |
Lighter BNB
Backpack BNB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $0.84
- Price spread: +0.034% → +0.127%
- −$9.31
- Slippage, 4 orders
- −$6.04
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$24.51
- Costs to cover
- 0.160%
- Break-even
- 211.2 days
Slippage from Lighter: live order book, 6 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 Lighter live order book, 6 min ago | 2.42 bp | 2.4 bp −$2 | 4.9 bp −$49 | 15.4 bp −$1,543 | 69.1 bp −$34.5K |
| Sell Backpack live order book, 2 min ago | 0.06 bp | 5.4 bp −$5 | 8.8 bp −$88 | 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 | 787.51 | −0.055% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.37 | −0.073% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.76 | −0.023% | $850K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 787.60 | −0.043% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.176% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0040% | 8h | 788.30 | +0.045% | $6.1M | $19.0M | 200x | as long as short |
| BingX BNB-USDC | +0.0045% | 8h | 787.90 | −0.006% | — | $13.4M | — | as long as short |
| Phemex BNBUSDT | +0.0062% | 8h | 788.35 | +0.051% | $69.0M | $50.6M | 50x | as long as short |
| MEXC BNB_USDT | +0.0063% | 8h | 788.60 | +0.083% | $80.6M | $12.0M | 200x | as long as short |
| Binance BNBUSDT | +0.0065% | 8h | 788.29 | +0.044% | $491.1M | $814.2M | 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
BingX BNB-USDC
Phemex BNBUSDT
MEXC BNB_USDT
Binance BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_BNBUSD | +0.0069% | 1h | 787.57 | −0.047% | $2.5M | $1.2M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 785.85 | −0.266% | $568K | $1.9M | 50x | as long as short |
| Lighter BNBlong | +0.0096% | 1h | 787.95 | long leg | $2.7M | $3.8M | 20x | |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 787.72 | −0.029% | $265K | $490K | 50x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 787.45 | −0.063% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 788.28 | +0.043% | $51.6M | $17.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 787.82 | −0.016% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 787.66 | −0.036% | $138.6M | $75.0M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 787.70 | −0.031% | $53.6M | $112.8M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 787.70 | −0.031% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 787.70 | −0.031% | $36.8M | $59.3M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 787.50 | −0.056% | $27.7M | $10.3M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 787.47 | −0.060% | $76.2M | $31.0M | 75x | as long as short |
| Backpack BNB_USDC_PERPshort | +0.0100% | 1h | 788.21 | +0.034% | $2.2M | $6.1M | 40x | |
| Variational Omni BNB | +0.0100% | 8h | 786.32 | −0.206% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 787.03 | −0.116% | $4.1M | $75.7M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 787.17 | −0.098% | $158K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 787.50 | −0.056% | $132K | $951K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 787.90 | −0.006% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 788.18 | +0.030% | $12K | $1.5M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 787.63 | −0.040% | $8.0M | $10.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 787.91 | −0.004% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 787.53 | −0.053% | $1.8M | $6.2M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 787.82 | −0.016% | $378K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0107% | 1h | 787.24 | −0.089% | $169K | $35K | 10x | as long as short |
| SoDEX BNB-USD | +0.0135% | 1h | 787.80 | −0.018% | $387K | $992K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0136% | 8h | 788.10 | +0.020% | $161K | $2.7M | 4.8x | as long as short |
| dYdX BNB-USD | +0.0153% | 1h | 787.04 | −0.115% | $159K | $62K | 10x | as long as short |
| BloFin BNB-USDT | +0.0184% | 8h | 787.93 | −0.002% | $17.7M | $2.2M | 75x | as long as short |
| GRVT BNB_USDT_Perp | +0.0219% | 8h | 787.26 | −0.087% | $2.9M | $29.5M | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0300% | 1h | 788.15 | +0.026% | $1.5M | $143K | 25x | as long as short |
| 01 Exchange BNBUSD | +0.0312% | 1h | 788.33 | +0.049% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0323% | 1h | 787.40 | −0.069% | $6K | $3K | 40x | as long as short |
| Bulk BNB-USD | +0.0378% | 1h | 788.15 | +0.026% | $639K | $4K | 10x | as long as short |
| RISEx BNB/USDC | +0.0432% | 1h | 787.78 | −0.021% | $1.1M | $901K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0536% | 1h | 786.95 | −0.126% | $67K | $39K | 12x | as long as short |
Kraken Futures PF_BNBUSD
Coinbase International BNB-PERP-INTX
Orderly PERP_BNB_USDC
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
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
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
SoDEX BNB-USD
Kalshi KXBNBPERP
dYdX BNB-USD
BloFin BNB-USDT
GRVT BNB_USDT_Perp
Deribit BNB_USDC-PERPETUAL
01 Exchange BNBUSD
Reya BNBRUSDPERP
Bulk BNB-USD
RISEx BNB/USDC
Hibachi BNB/USDT-P