BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0643%/8h= +70.4% APRnext payment +$0.80 per $10,000 · paid last 24h +0.052%

Price spread now: Backpack against gTrade (Gains Network)+0.108%7-day average +0.057% · 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−$277as in the Price arb table

costs, in and out, $10k−$2822.817% of the position

Long on gTrade (Gains Network)Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.110%+$11 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.108%, 7d avg +0.057%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Backpack is 0.051% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.057%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.110% in total (about 13.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.80 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	gTrade (Gains Network) BNB/USD	805.00	L +0.0008% / S −0.0007%	pay 0.0001% / 1h	9m 46s	$9.8M	—	150x
Short	Backpack BNB_USDC_PERP	805.87	0.0651	get 0.0081% / 1h	9m 46s	$3.0M	$5.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BackpackbpOrdersPrice spread, now +0.108%Rate

Funding earned: $135.01
Price spread: +0.108% → +0.057%: $5.08
Slippage, 4 orders: −$261.65
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$141.56
Costs to cover: 2.817%
Break-even: 14.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 4 min ago; Backpack: live order book, 4 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 gTrade (Gains Network) virtual book (oracle venue), 4 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2253.7 bp −$1.13M
Sell Backpack live order book, 4 min ago	0.06 bp	6.6 bp −$7	9.2 bp −$92	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 −0.0195% / S +0.0371%	1h	804.88	−0.015%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.14	+0.017%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.48	+0.060%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.90	+0.112%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.97	−0.004%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USDlong	L +0.0008% / S −0.0007%	1h	805.00	long leg	$9.8M	—	150x
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.99	−0.001%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	804.63	−0.046%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0055%	8h	804.89	−0.014%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0080%	8h	804.50	−0.062%	$139.6M	$81.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	+0.019%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	805.09	+0.011%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	805.50	+0.062%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	804.90	−0.013%	$1.5M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	805.50	+0.061%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.60	−0.050%	$55.2M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.40	+0.050%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.65	−0.044%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.74	−0.032%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.38	−0.077%	$79.0M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	806.79	+0.223%	$4.2M	$77.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.36	+0.169%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.96	−0.005%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.00	0.000%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.99	−0.002%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.63	+0.079%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	805.38	+0.047%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.30	+0.038%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.95	+0.118%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	804.56	−0.054%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.12	+0.014%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0114%	8h	805.70	+0.087%	$84.6M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	805.42	+0.052%	$520.6M	$806.1M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	+0.077%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0134%	8h	805.52	+0.064%	$70.3M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0196%	1h	804.90	−0.013%	$396K	$1.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	805.26	+0.033%	$1.1M	$1.5M	20x	as long as short
Hyperliquid BNB	+0.0210%	1h	805.43	+0.053%	$51.9M	$22.0M	10x	as long as short
BloFin BNB-USDT	+0.0234%	8h	805.45	+0.056%	$18.9M	$3.1M	75x	as long as short
dYdX BNB-USD	+0.0245%	1h	804.86	−0.018%	$170K	$55K	10x	as long as short
Hibachi BNB/USDT-P	+0.0256%	1h	805.00	0.000%	$71K	$48K	12x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.046%	$651K	$14K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	804.70	−0.038%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.87	+0.108%	$29K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	−0.014%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERPshort	+0.0651%	1h	805.87	+0.108%	$3.0M	$5.5M	40x