Funding you earn now, next payment 11:00 UTC+0.1072%/8h= +117.4% APRnext payment +$1.34 per $10,000 · paid last 24h +0.027%
Price spread now: dYdX against Backpack−0.121%7-day average −0.051% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$420.417% of the position
Funding, last 7 days+0.310%+$31 on $10k
+Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.121%, 7d avg −0.051%
=Funding pays, the price is against you. dYdX is 0.069% cheaper against Backpack than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of −0.051%). If the spread goes back, that is −$7 on $10k: about 5 hours of funding at the current rate (+$32 a day). At the pace of the last 7 days (+0.310% in total) that is about 38 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.310% in total (about 16.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.34 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BNB_USDC_PERP | 787.06 | 0.0100 | pay 0.0013% / 1h | 29m 14s | $2.2M | $6.0M | 40x |
| Short | dYdX BNB-USD | 786.11 | 0.1172 | get 0.0146% / 1h | 29m 14s | $158K | $34K | 10x |
Backpack BNB_USDC_PERP
dYdX BNB-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Backpack. 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
- $225.11
- Price spread: −0.121% → −0.051%
- −$6.92
- Slippage, 4 orders
- −$21.72
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- $176.47
- Costs to cover
- 0.417%
- Break-even
- 1.5 days
Slippage from Backpack: live order book, 3 min ago; dYdX: live order book, 18 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 Backpack live order book, 3 min ago | 0.06 bp | 5.2 bp −$5 | 7.9 bp −$79 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 18 min ago | 10.27 bp | 15.7 bp −$16 | 45.5 bp −$455 | 54.1 bp −$5,413 | 90.8 bp −$45.4K |
BNB on 45 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 | 786.63 | −0.055% | $43K | — | 200x | as long as short |
| Kraken Futures PF_BNBUSD | −0.0085% | 1h | 786.65 | −0.052% | $2.5M | $1.2M | 50x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 787.49 | +0.055% | $4K | — | 25x | as long as short |
| Aster BNBUSDT | 0.0000% | 8h | 787.20 | +0.018% | $6.0M | $16.9M | 200x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 786.44 | −0.079% | $2.9M | $26.3M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 787.10 | +0.005% | $155K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 787.24 | +0.023% | $849K | $3.0M | 30x | as long as short |
| Deribit BNB_USDC-PERPETUAL | 0.0000% | 1h | 786.91 | −0.020% | $1.5M | $148K | 25x | as long as short |
| Bybit BNBUSDT | +0.0006% | 8h | 786.20 | −0.109% | $138.5M | $65.8M | 75x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 785.78 | −0.163% | $9.5M | — | 150x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Kraken Futures PF_BNBUSD
Hotstuff BNB-PERP
Aster BNBUSDT
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
Deribit BNB_USDC-PERPETUAL
Bybit BNBUSDT
gTrade (Gains Network) BNB/USDShow all 45 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BNB-USDT | +0.0010% | 8h | 786.76 | −0.038% | — | $50.4M | — | as long as short |
| MEXC BNB_USDT | +0.0012% | 8h | 788.00 | +0.119% | $83.3M | $11.8M | 200x | as long as short |
| Binance BNBUSDT | +0.0013% | 8h | 787.12 | +0.008% | $480.7M | $759.7M | 75x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.291% | $19K | $789K | 30x | as long as short |
| BloFin BNB-USDT | +0.0050% | 8h | 787.12 | +0.008% | $18.5M | $2.2M | 75x | as long as short |
| Phemex BNBUSDT | +0.0085% | 8h | 787.23 | +0.022% | $68.4M | $50.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 786.80 | −0.033% | $2.7M | $3.3M | 20x | as long as short |
| Nado BNB-PERP | +0.0100% | 1h | 786.50 | −0.071% | $1.4M | $2.3M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 787.15 | +0.011% | $51.9M | $16.9M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 786.87 | −0.024% | $1.2M | $930K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.50 | −0.071% | $53.4M | $101.3M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.80 | −0.033% | $57K | $122K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.65 | −0.052% | $41.6M | $54.2M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 786.55 | −0.065% | $28.2M | $9.6M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 786.26 | −0.102% | $75.7M | $31.0M | 75x | as long as short |
| Backpack BNB_USDC_PERPlong | +0.0100% | 1h | 787.06 | long leg | $2.2M | $6.0M | 40x | |
| Variational Omni BNB | +0.0100% | 8h | 785.47 | −0.203% | $4.3M | $4.4M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 786.31 | −0.096% | $4.1M | $73.3M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 786.13 | −0.118% | $158K | $460K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 786.51 | −0.070% | $128K | $905K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 786.75 | −0.039% | $264K | $297K | 50x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 787.21 | +0.019% | $12K | $1.3M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 786.80 | −0.033% | $387K | $926K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.99 | −0.009% | $8.0M | $9.9M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 786.88 | −0.023% | $78K | $899K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 786.23 | −0.105% | $1.8M | $5.6M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 786.50 | −0.071% | $378K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0120% | 1h | 786.99 | −0.009% | $158K | $45K | 10x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0120% | 1h | 787.08 | +0.003% | $548K | $1.9M | 50x | as long as short |
| 01 Exchange BNBUSD | +0.0208% | 1h | 787.13 | +0.009% | $28K | $3K | 10x | as long as short |
| Bulk BNB-USD | +0.0305% | 1h | 787.61 | +0.070% | $638K | $811 | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0316% | 1h | 786.09 | −0.124% | $6K | $3K | 40x | as long as short |
| Hibachi BNB/USDT-P | +0.0336% | 1h | 786.10 | −0.122% | $67K | $37K | 12x | as long as short |
| RISEx BNB/USDC | +0.0393% | 1h | 786.18 | −0.112% | $1.1M | $903K | 20x | as long as short |
| dYdX BNB-USDshort | +0.1172% | 1h | 786.11 | −0.121% | $158K | $34K | 10x |
BingX BNB-USDT
MEXC BNB_USDT
Binance BNBUSDT
Injective BNB/USDC PERP
BloFin BNB-USDT
Phemex BNBUSDT
Lighter BNB
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
Orderly PERP_BNB_USDC
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Coinbase International BNB-PERP-INTX
01 Exchange BNBUSD
Bulk BNB-USD
Reya BNBRUSDPERP
Hibachi BNB/USDT-P
RISEx BNB/USDC