Funding you earn now, next payment 04:00 UTC+0.1055%/8h= +115.5% APRpaid last 24h −0.021%
Price spread now: Backpack against Binance+0.176%7-day average — · you sell dearer than you buy
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 for this trade now. Funding pays +$32 a day on $10k at the current rate, and Backpack is 0.176% dearer against Binance than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance WUSDT | 0.01190 | 0.0100 | pay 0.0050% / 4h | 0m 19s | $3.0M | $6.3M | 50x |
| Short | Backpack W_USDC_PERP | 0.01192 | 0.1155 | get 0.0144% / 1h | 0m 19s | $44K | $43K | 15x |
Binance WUSDT
Backpack W_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- $221.51
- Price spread: +0.176% → 0.000%
- $17.59
- Slippage, 4 orders
- no order book: not counted
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $219.1
- Costs to cover
- 0.200%
- Break-even
- 0.1 days
Slippage unknown: Binance: live order book, 8 min ago; Backpack: no order-book sample. 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 Binance live order book, 8 min ago | 0.84 bp | 26.1 bp −$26 | 106.0 bp −$1,060 | doesn't fit | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
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 | −0.0170% | 1h | 0.01190 | +0.008% | $15K | $3K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +1.613% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01190 | +0.016% | $2.0M | $332K | 5x | as long as short |
| Binance WUSDTlong | +0.0100% | 4h | 0.01190 | long leg | $3.0M | $6.3M | 50x | |
| Bybit WUSDT | +0.0100% | 4h | 0.01188 | −0.135% | $4.2M | $1.8M | 50x | as long as short |
| OKX W-USDT-SWAP | +0.0100% | 4h | 0.01189 | −0.026% | $1.3M | $1.8M | 20x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01187 | −0.202% | $449K | $231K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01190 | +0.008% | $12.9M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01188 | −0.152% | $377K | $210K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01190 | +0.016% | $1.3M | $567K | 50x | as long as short |
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
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-USDT | +0.0100% | 4h | 0.01189 | −0.034% | — | $6.8M | — | as long as short |
| Variational Omni W | +0.0100% | 4h | 0.01188 | −0.174% | $72K | $41K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01189 | −0.090% | $128K | $414K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01190 | −0.004% | $62K | $230K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0360% | 1h | 0.01195 | +0.470% | $14K | $15K | 50x | as long as short |
| Backpack W_USDC_PERPshort | +0.1155% | 1h | 0.01192 | +0.176% | $44K | $43K | 15x | |
| Kraken Futures PF_WUSD | +0.1676% | 1h | 0.01193 | +0.277% | $148K | $184K | 20x | as long as short |
BingX W-USDT
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD