BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0180%/8h= +19.7% APRnext payment +$0.23 per $10,000 · paid last 24h +0.101%

Price spread now: Backpack against Hotstuff−0.048%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Backpack is 0.048% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BNB-PERP	789.25	−0.0080	get 0.0010% / 1h	48m 07s	$4K	$42	25x
Short	Backpack BNB_USDC_PERP	788.87	0.0100	get 0.0013% / 1h	48m 07s	$2.2M	$6.1M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hotstuff. 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 HotstuffbpFee BackpackbpOrdersPrice spread, now −0.048%Rate

Funding earned: $37.8
Price spread: −0.048% → 0.000%: −$4.81
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: $17.99
Costs to cover: 0.150%
Break-even: 3.7 days

Slippage unknown: Hotstuff: no order-book sample; Backpack: live order book, 1 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Backpack live order book, 1 min ago	0.06 bp	7.0 bp −$7	10.4 bp −$104	doesn't fit	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0183% / S +0.0348%	1h	788.36	−0.113%	$46K	—	200x	as long as short
Hotstuff BNB-PERPlong	−0.0080%	1h	789.25	long leg	$4K	$42	25x
StandX BNB-USD	0.0000%	1h	789.66	+0.052%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.41	−0.106%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.007%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0042%	8h	788.92	−0.042%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0056%	8h	788.36	−0.113%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.176%	$583K	$1.9M	50x	as long as short
Binance BNBUSDT	+0.0067%	8h	788.87	−0.048%	$492.2M	$789.8M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	789.10	−0.019%	$80.1M	$12.2M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0071%	8h	788.95	−0.038%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.46	−0.100%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	−0.101%	$265K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.45	−0.101%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.97	−0.036%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.75	−0.063%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.04	−0.153%	$138.6M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.10	−0.146%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	−0.032%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.25	−0.127%	$35.3M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.15	−0.139%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.04	−0.153%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERPshort	+0.0100%	1h	788.87	−0.048%	$2.2M	$6.1M	40x
Variational Omni BNB	+0.0100%	8h	789.11	−0.017%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.98	+0.220%	$4.1M	$74.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.75	+0.063%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.43	−0.104%	$133K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.51	−0.093%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.02	−0.029%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.40	−0.108%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.96	−0.037%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.23	−0.003%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.94	−0.166%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.51	−0.094%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0110%	1h	789.06	−0.024%	$160K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.37	+0.142%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0138%	8h	791.19	+0.246%	$3.0M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.20	−0.006%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0188%	8h	789.53	+0.035%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.25	0.000%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.14	−0.140%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.303%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.69	−0.070%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.10	−0.146%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.11	−0.018%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	789.02	−0.029%	$67K	$38K	12x	as long as short