BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0239%/8h= +26.2% APRnext payment +$0.30 per $10,000 · paid last 24h +0.037%

Price spread now: Backpack against Pacifica+0.030%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

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

Long on Pacifica Short on Backpack

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−0.249%−$25 · spread now +0.030%, 7d avg +0.079%

Together, before fees−0.153%+ Points / potential airdropPacifica: Active · farm board−$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.049% cheaper against Pacifica than usual: you would sell low and buy high (spread +0.030% now, against its 7-day average of +0.079%). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.096% in total) that is about 3.6 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 +$0.30 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	Pacifica BNB	799.38	0.0100	pay 0.0013% / 1h	3m 14s	$1.2M	$925K	20x
Short	Backpack BNB_USDC_PERP	799.62	0.0339	get 0.0042% / 1h	3m 14s	$2.7M	$5.7M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.030%Rate

Funding earned: $50.24
Price spread: +0.030% → +0.079%: −$4.9
Slippage, 4 orders: −$8.38
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $18.96
Costs to cover: 0.264%
Break-even: 4.4 days

Slippage from Pacifica: live order book, 1 min ago; Backpack: 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 Pacifica live order book, 1 min ago	0.63 bp	4.8 bp −$5	10.2 bp −$102	doesn't fit	doesn't fit
Sell Backpack live order book, 1 min ago	0.06 bp	5.1 bp −$5	6.3 bp −$63	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	−0.035%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.45	+0.009%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.16	−0.027%	$2.5M	$975K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.72	−0.082%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.91	+0.066%	$864K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0007%	8h	797.54	−0.230%	$4.1M	$5.4M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.20	−0.022%	$9.7M	—	150x	as long as short
BingX BNB-USDC	+0.0030%	8h	799.22	−0.020%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0038%	8h	799.00	−0.048%	$138.7M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.68	−0.088%	$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	+0.0078%	8h	799.77	+0.049%	$6.2M	$19.2M	200x	as long as short
Phemex BNBUSDT	+0.0094%	8h	799.57	+0.024%	$69.9M	$50.6M	50x	as long as short
Lighter BNB	+0.0096%	1h	799.38	0.000%	$2.8M	$4.1M	20x	as long as short
MEXC BNB_USDT	+0.0099%	8h	800.10	+0.090%	$83.1M	$13.6M	200x	as long as short
Binance BNBUSDT	+0.0099%	8h	799.70	+0.040%	$497.8M	$818.2M	75x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.95	−0.054%	$1.4M	$2.7M	20x	as long as short
Pacifica BNBlong	+0.0100%	1h	799.38	long leg	$1.2M	$925K	20x
OKX BNB-USDT-SWAP	+0.0100%	8h	799.00	−0.048%	$54.4M	$112.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.40	+0.003%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.90	−0.060%	$35.7M	$58.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.12	−0.033%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.82	−0.070%	$78.9M	$27.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.64	−0.092%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.21	−0.021%	$161K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.16	−0.028%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.04	−0.043%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.23	−0.018%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.79	+0.051%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.30	−0.010%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	799.56	+0.022%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.54	+0.021%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.80	+0.053%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	798.80	−0.072%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.23	−0.019%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	−0.126%	$172K	$36K	10x	as long as short
Kalshi KXBNBPERP	+0.0152%	8h	799.60	+0.028%	$90K	$2.9M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.44	+0.007%	$70K	$43K	12x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	−0.069%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0219%	8h	798.91	−0.059%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0246%	1h	800.09	+0.089%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.24	−0.017%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.73	+0.044%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.714%	$19K	$789K	30x	as long as short
dYdX BNB-USD	+0.0329%	1h	798.88	−0.063%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.92	−0.058%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERPshort	+0.0339%	1h	799.62	+0.030%	$2.7M	$5.7M	40x