Funding you earn now, next payment 02:00 UTC−0.0282%/8h= −30.9% APRpaid last 24h +0.042%
Price spread now: BingX against Backpack−0.084%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and BingX is 0.084% cheaper against Backpack than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack W_USDC_PERP | 0.01188 | 0.0382 | pay 0.0048% / 1h | 28m 22s | $44K | $47K | 15x |
| Short | BingX W-USDT | 0.01187 | 0.0100 | get 0.0050% / 4h | 2h 28m | — | $6.8M | — |
Backpack W_USDC_PERP
BingX W-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$59.19
- Price spread: −0.084% → 0.000%
- −$8.42
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$87.62
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; BingX: live order book, 4 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 Backpack no order-book sample | — | — | — | — | — |
| Sell BingX live order book, 4 min ago | 4.64 bp | 32.1 bp −$32 | 68.3 bp −$683 | 628.7 bp −$62.9K | 1197.6 bp −$598.8K |
Backpack: 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.
W on 17 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit W_USDC-PERPETUAL | −0.0339% | 1h | 0.01187 | −0.017% | $16K | $2K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.811% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01187 | −0.042% | $2.0M | $396K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01187 | −0.075% | $3.0M | $6.7M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01185 | −0.244% | $4.1M | $1.9M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01186 | −0.101% | $1.3M | $1.9M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01186 | −0.152% | $448K | $264K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01186 | −0.126% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01188 | +0.042% | $450K | $223K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01186 | −0.126% | $1.3M | $576K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
OKX W-USDT-SWAP
Gate W_USDT
MEXC W_USDT
KuCoin WUSDTM
Bitget WUSDTShow all 17 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX W-USDTshort | +0.0100% | 4h | 0.01187 | −0.084% | — | $6.8M | — | |
| Variational Omni W | +0.0100% | 4h | 0.01187 | −0.062% | $71K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01186 | −0.135% | $123K | $405K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01186 | −0.099% | $60K | $239K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0360% | 1h | 0.01189 | +0.101% | $14K | $16K | 50x | as long as short |
| Backpack W_USDC_PERPlong | +0.0382% | 1h | 0.01188 | long leg | $44K | $47K | 15x | |
| Kraken Futures PF_WUSD | +0.1529% | 1h | 0.01190 | +0.219% | $148K | $181K | 20x | as long as short |
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD