BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0228%/8h= −24.9% APRnext payment −$0.28 per $10,000 · paid last 24h −0.037%

Price spread now: Pacifica against Backpack−0.039%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 7 days+0.258%+$26 · spread now −0.039%, 7d avg −0.079%

Together, before fees+0.161%+ Points / potential airdropPacifica: Active · farm board+$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.040% dearer against Backpack than usual: you sell high and buy low (spread −0.039% now, against its 7-day average of −0.079%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.096% in total) that is about 2.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.096% in total (about -5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.28 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	Backpack BNB_USDC_PERP	799.43	0.0328	pay 0.0041% / 1h	2m 36s	$2.7M	$5.7M	40x
Short	Pacifica BNB	799.12	0.0100	get 0.0013% / 1h	2m 36s	$1.2M	$925K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Backpack. 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 BackpackbpFee PacificabpOrdersPrice spread, now −0.039%Rate

Funding earned: −$47.84
Price spread: −0.039% → −0.079%: $4.02
Slippage, 4 orders: −$8.38
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$70.2
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Backpack: live order book, 2 min ago; Pacifica: live order book, 1 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, 2 min ago	0.06 bp	11.3 bp −$11	16.6 bp −$166	doesn't fit	doesn't fit
Sell Pacifica live order book, 1 min ago	0.63 bp	5.2 bp −$5	7.7 bp −$77	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 −0.0201% / S +0.0372%	1h	799.10	−0.041%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.26	−0.021%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.16	−0.034%	$2.5M	$975K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.72	−0.089%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	800.01	+0.073%	$865K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0007%	8h	797.54	−0.236%	$4.1M	$5.4M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.20	−0.028%	$9.7M	—	150x	as long as short
BingX BNB-USDC	+0.0030%	8h	799.13	−0.038%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0038%	8h	798.70	−0.091%	$138.7M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.68	−0.094%	$602K	$986K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0079%	8h	799.45	+0.003%	$6.2M	$19.2M	200x	as long as short
Phemex BNBUSDT	+0.0094%	8h	799.57	+0.018%	$69.9M	$50.6M	50x	as long as short
Lighter BNB	+0.0096%	1h	799.27	−0.021%	$2.8M	$4.1M	20x	as long as short
Binance BNBUSDT	+0.0098%	8h	799.47	+0.004%	$497.7M	$818.2M	75x	as long as short
MEXC BNB_USDT	+0.0099%	8h	799.90	+0.059%	$83.1M	$13.6M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.72	−0.089%	$1.4M	$2.7M	20x	as long as short
Pacifica BNBshort	+0.0100%	1h	799.12	−0.039%	$1.2M	$925K	20x
OKX BNB-USDT-SWAP	+0.0100%	8h	798.80	−0.079%	$54.4M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.20	−0.029%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.65	−0.098%	$35.7M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.03	−0.050%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.79	−0.080%	$78.9M	$27.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.64	−0.099%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.21	−0.028%	$161K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.16	−0.034%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.04	−0.049%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.23	−0.025%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.79	+0.045%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.30	−0.016%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.56	+0.016%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.54	+0.014%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.57	+0.018%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.60	−0.104%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.23	−0.026%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	−0.133%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.44	+0.001%	$70K	$43K	12x	as long as short
Kalshi KXBNBPERP	+0.0153%	8h	799.70	+0.034%	$90K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	−0.076%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0219%	8h	799.70	+0.034%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0247%	1h	799.86	+0.054%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.00	−0.054%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.52	+0.011%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.708%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERPlong	+0.0328%	1h	799.43	long leg	$2.7M	$5.7M	40x
dYdX BNB-USD	+0.0329%	1h	798.88	−0.069%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.92	−0.064%	$6K	$3K	40x	as long as short