Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.047%
Price spread now: Backpack against Nado+0.056%7-day average +0.134% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$190.189% of the position
Funding, last 4 days (all we have)+0.051%+$5 on $10k
+Price spread, last 7 days+0.187%+$19 · spread now +0.056%, 7d avg +0.134%
=Together, before fees+0.237%+ Points / potential airdropNado: Active · farm board+$24 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 0.078% cheaper against Nado than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.134%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado BNB-PERP | 787.55 | 0.0100 | pay 0.0012% / 1h | 0m 44s | $1.4M | $2.5M | 20x |
| Short | Backpack BNB_USDC_PERP | 787.99 | 0.0100 | get 0.0013% / 1h | 0m 44s | $2.2M | $6.1M | 40x |
Nado BNB-PERP
Backpack BNB_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Nado. 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: +0.056% → +0.134%
- −$7.83
- Slippage, 4 orders
- −$1.9
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$26.73
- Costs to cover
- 0.189%
- Break-even
- 2746000425183714.5 days
Slippage from Nado: 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 Nado live order book, 3 min ago | 0.06 bp | 3.8 bp −$4 | 8.4 bp −$84 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.06 bp | 5.1 bp −$5 | 6.7 bp −$67 | doesn't fit | doesn't fit |
BNB on 45 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 −0.0166% / S +0.0336% | 1h | 787.50 | −0.006% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 788.40 | +0.108% | $4K | — | 25x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0021% | 1h | 787.69 | +0.018% | $2.5M | $1.2M | 50x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 788.32 | +0.098% | $2.9M | $26.5M | 10x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 788.65 | +0.140% | $851K | $2.8M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 787.41 | −0.018% | $9.5M | — | 150x | as long as short |
| Aster BNBUSDT | +0.0009% | 8h | 788.09 | +0.069% | $6.0M | $17.7M | 200x | as long as short |
| BingX BNB-USDT | +0.0023% | 8h | 787.79 | +0.030% | — | $22.2M | — | as long as short |
| MEXC BNB_USDT | +0.0028% | 8h | 789.50 | +0.248% | $83.1M | $12.5M | 200x | as long as short |
| Binance BNBUSDT | +0.0028% | 8h | 788.04 | +0.062% | $484.0M | $797.7M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Aster BNBUSDT
BingX BNB-USDT
MEXC BNB_USDT
Binance BNBUSDTShow all 45 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.227% | $19K | $789K | 30x | as long as short |
| Phemex BNBUSDT | +0.0070% | 8h | 788.21 | +0.084% | $68.6M | $51.4M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 787.70 | +0.019% | $2.7M | $3.7M | 20x | as long as short |
| Nado BNB-PERPlong | +0.0100% | 1h | 787.55 | long leg | $1.4M | $2.5M | 20x | |
| Hyperliquid BNB | +0.0100% | 1h | 788.24 | +0.088% | $51.8M | $17.3M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 788.08 | +0.067% | $1.2M | $936K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 787.41 | −0.018% | $138.8M | $70.9M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 787.40 | −0.019% | $53.7M | $107.8M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 787.90 | +0.044% | $52K | $124K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 787.70 | +0.019% | $39.9M | $57.1M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 787.28 | −0.034% | $27.9M | $9.7M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 787.19 | −0.046% | $75.7M | $32.1M | 75x | as long as short |
| Backpack BNB_USDC_PERPshort | +0.0100% | 1h | 787.99 | +0.056% | $2.2M | $6.1M | 40x | |
| Variational Omni BNB | +0.0100% | 8h | 787.30 | −0.031% | $4.3M | $4.9M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 788.37 | +0.105% | $4.1M | $77.3M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 788.39 | +0.107% | $159K | $440K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 787.68 | +0.017% | $130K | $917K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 787.58 | +0.004% | $265K | $304K | 50x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 788.28 | +0.093% | $12K | $1.4M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 787.70 | +0.019% | $387K | $939K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 787.60 | +0.006% | $8.0M | $10.2M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 788.25 | +0.088% | $78K | $217K | 50x | as long as short |
| Kalshi KXBNBPERP | +0.0103% | 8h | 788.10 | +0.070% | $161K | $2.6M | 4.8x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 787.18 | −0.047% | $1.8M | $5.8M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 787.56 | +0.001% | $378K | $110K | 10x | as long as short |
| BloFin BNB-USDT | +0.0112% | 8h | 788.42 | +0.110% | $17.6M | $2.3M | 75x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0120% | 1h | 787.77 | +0.028% | $550K | $2.0M | 50x | as long as short |
| Phoenix BNB | +0.0120% | 1h | 788.35 | +0.102% | $158K | $38K | 10x | as long as short |
| Bulk BNB-USD | +0.0150% | 1h | 788.74 | +0.151% | $639K | $0 | 10x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 788.00 | +0.057% | $1.5M | $138K | 25x | as long as short |
| 01 Exchange BNBUSD | +0.0224% | 1h | 788.25 | +0.089% | $28K | $3K | 10x | as long as short |
| dYdX BNB-USD | +0.0290% | 1h | 788.17 | +0.078% | $158K | $63K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0318% | 1h | 787.29 | −0.034% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0355% | 1h | 788.38 | +0.105% | $1.1M | $890K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0424% | 1h | 787.89 | +0.043% | $67K | $38K | 12x | as long as short |
Injective BNB/USDC PERP
Phemex BNBUSDT
Lighter BNB
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
Orderly PERP_BNB_USDC
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Kalshi KXBNBPERP
Extended BNB-USD
Aevo BNB-PERP
BloFin BNB-USDT
Coinbase International BNB-PERP-INTX
Phoenix BNB
Bulk BNB-USD
Deribit BNB_USDC-PERPETUAL
01 Exchange BNBUSD
dYdX BNB-USD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P