BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0269%/8h= −29.4% APRnext payment −$0.34 per $10,000 · paid last 24h −0.039%

Price spread now: SoDEX against Backpack−0.049%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Backpack Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now −0.049%, 7d avg −0.036%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.034% in total (about -3.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 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	789.79	0.0384	pay 0.0048% / 1h	0m 26s	$2.2M	$6.0M	40x
Short	SoDEX BNB-USD	789.40	0.0116	get 0.0014% / 1h	0m 26s	$388K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$56.42
Price spread: −0.049% → −0.036%: −$1.29
Slippage, 4 orders: −$5.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$80.86
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; SoDEX: 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 Backpack live order book, 4 min ago	0.06 bp	8.7 bp −$9	12.3 bp −$123	doesn't fit	doesn't fit
Sell SoDEX live order book, 3 min ago	0.63 bp	4.8 bp −$5	8.6 bp −$86	77.1 bp −$7,709	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 −0.0167% / S +0.0335%	1h	788.73	−0.134%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	789.38	−0.052%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.47	−0.041%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.38	+0.075%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.86	−0.118%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.937%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	789.61	−0.023%	$6.2M	$18.9M	200x	as long as short
BingX BNB-USDC	+0.0051%	8h	789.04	−0.095%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	789.66	−0.016%	$619K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0058%	8h	789.78	−0.001%	$69.1M	$50.8M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BNB	+0.0062%	8h	789.21	−0.073%	$4.1M	$4.8M	—	as long as short
MEXC BNB_USDT	+0.0067%	8h	789.70	−0.011%	$80.5M	$13.2M	200x	as long as short
Binance BNBUSDT	+0.0068%	8h	789.49	−0.038%	$494.2M	$812.1M	75x	as long as short
Gate BNB_USDT	+0.0069%	8h	788.80	−0.125%	$35.4M	$58.3M	75x	as long as short
Phoenix BNB	+0.0088%	1h	789.43	−0.046%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	789.27	−0.066%	$2.8M	$4.1M	20x	as long as short
GRVT BNB_USDT_Perp	+0.0098%	8h	790.16	+0.047%	$2.9M	$28.4M	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.86	−0.118%	$381K	$386K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.10	−0.087%	$1.5M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.65	−0.018%	$51.7M	$18.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.37	−0.053%	$1.2M	$920K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.90	−0.113%	$138.8M	$79.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.80	−0.125%	$53.3M	$112.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.30	−0.062%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.91	−0.111%	$27.8M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.76	−0.130%	$77.2M	$29.9M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.23	+0.056%	$4.1M	$77.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.07	+0.035%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.86	−0.118%	$137K	$946K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.98	−0.102%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.61	−0.023%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.47	−0.041%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.75	−0.005%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.77	−0.130%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.82	−0.122%	$379K	$110K	10x	as long as short
SoDEX BNB-USDshort	+0.0116%	1h	789.40	−0.049%	$388K	$1.0M	10x
dYdX BNB-USD	+0.0121%	1h	788.88	−0.115%	$160K	$64K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	789.33	−0.059%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0178%	8h	789.80	+0.001%	$92K	$2.9M	4.8x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	789.69	−0.013%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	789.80	+0.001%	$640K	$13K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.70	−0.138%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERPlong	+0.0384%	1h	789.79	long leg	$2.2M	$6.0M	40x
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.82	+0.004%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0520%	1h	789.88	+0.012%	$67K	$39K	12x	as long as short