BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0332%/8h= −36.4% APRnext payment −$0.42 per $10,000 · paid last 24h +0.018%

Price spread now: Backpack against RISEx+0.036%7-day average +0.130% · 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−$32as in the Price arb table

costs, in and out, $10k−$220.225% of the position

Long on RISEx Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.069%−$7 on $10k

Price spread, last 7 days+0.103%+$10 · spread now +0.036%, 7d avg +0.130%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Backpack is 0.094% cheaper against RISEx than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.130%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.069% in total (about -6.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx BNB/USDC	784.18	0.0432	pay 0.0054% / 1h	27m 19s	$1.1M	$909K	20x
Short	Backpack BNB_USDC_PERP	784.46	0.0100	get 0.0013% / 1h	27m 19s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against RISEx. 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 RISExbpFee BackpackbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$69.8
Price spread: +0.036% → +0.130%: −$9.42
Slippage, 4 orders: −$6.47
Fee RISEx: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$101.69
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from RISEx: live order book, 1 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 RISEx live order book, 1 min ago	1.66 bp	4.7 bp −$5	7.9 bp −$79	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.06 bp	6.1 bp −$6	9.1 bp −$91	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	783.15	−0.131%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.20	+0.003%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	784.86	+0.087%	$846K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	783.37	−0.103%	$9.4M	—	150x	as long as short
Aster BNBUSDT	+0.0031%	8h	784.16	−0.003%	$6.0M	$18.9M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.666%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0042%	8h	783.51	−0.085%	—	$22.1M	—	as long as short
Phemex BNBUSDT	+0.0054%	8h	784.04	−0.018%	$68.6M	$50.5M	50x	as long as short
MEXC BNB_USDT	+0.0054%	8h	784.50	+0.041%	$79.5M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0054%	8h	784.18	0.000%	$488.5M	$810.1M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	783.56	−0.079%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	783.79	−0.050%	$567K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	783.69	−0.062%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	783.43	−0.096%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.75	−0.055%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.38	+0.026%	$51.3M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.19	+0.001%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	783.50	−0.087%	$137.7M	$74.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	783.40	−0.099%	$53.3M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.10	−0.010%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	783.40	−0.099%	$36.3M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.32	−0.110%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	783.06	−0.143%	$75.8M	$30.8M	75x	as long as short
Backpack BNB_USDC_PERPshort	+0.0100%	1h	784.46	+0.036%	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	784.13	−0.007%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.32	+0.145%	$4.1M	$75.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.72	+0.196%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.67	−0.065%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	783.49	−0.088%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.54	+0.046%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	783.60	−0.074%	$385K	$994K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	783.45	−0.093%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.22	+0.006%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	783.03	−0.147%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	783.73	−0.058%	$376K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	785.13	+0.121%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0146%	8h	784.20	+0.003%	$154K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0162%	1h	784.37	+0.024%	$159K	$61K	10x	as long as short
BloFin BNB-USDT	+0.0174%	8h	784.07	−0.014%	$17.6M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0208%	8h	785.52	+0.171%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	784.54	+0.046%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.193%	$637K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	783.88	−0.039%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	783.31	−0.111%	$6K	$3K	40x	as long as short
RISEx BNB/USDClong	+0.0432%	1h	784.18	long leg	$1.1M	$909K	20x
Hibachi BNB/USDT-P	+0.0504%	1h	784.29	+0.014%	$67K	$39K	12x	as long as short