Funding you earn now, next payment 00:00 UTC+0.1130%/8h= +123.7% APRpaid last 24h −0.063%
Price spread now: Backpack against BingX+0.178%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 +$34 a day on $10k at the current rate, and Backpack is 0.178% dearer against BingX 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 | BingX W-USDT | 0.01182 | 0.0100 | pay 0.0050% / 4h | 54m 52s | — | $6.9M | — |
| Short | Backpack W_USDC_PERP | 0.01184 | 0.1230 | get 0.0154% / 1h | 54m 52s | $44K | $47K | 15x |
BingX W-USDT
Backpack W_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against BingX. 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
- $237.25
- Price spread: +0.178% → 0.000%
- $17.76
- Slippage, 4 orders
- no order book: not counted
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $235.02
- Costs to cover
- 0.200%
- Break-even
- 0.1 days
Slippage unknown: BingX: 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 BingX live order book, 8 min ago | 5.10 bp | 23.4 bp −$23 | 63.4 bp −$634 | 661.4 bp −$66.1K | 1098.0 bp −$549.0K |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| OKX W-USDT-SWAP | −0.0056% | 4h | 0.01182 | 0.000% | $1.3M | $2.0M | 20x | as long as short |
| Deribit W_USDC-PERPETUAL | −0.0003% | 1h | 0.01184 | +0.152% | $17K | $1K | 10x | as long as short |
| Injective W/USDC PERP | +0.0033% | 1h | 0.01209 | +2.267% | $1K | $1K | 12x | as long as short |
| Hyperliquid W | +0.0100% | 1h | 0.01183 | +0.068% | $2.0M | $425K | 5x | as long as short |
| Binance WUSDT | +0.0100% | 4h | 0.01183 | +0.068% | $3.0M | $6.9M | 50x | as long as short |
| Bybit WUSDT | +0.0100% | 4h | 0.01182 | −0.025% | $4.1M | $1.9M | 50x | as long as short |
| Gate W_USDT | +0.0100% | 4h | 0.01180 | −0.186% | $445K | $290K | 75x | as long as short |
| MEXC W_USDT | +0.0100% | 4h | 0.01183 | +0.051% | $12.8M | $1.4M | 50x | as long as short |
| KuCoin WUSDTM | +0.0100% | 4h | 0.01184 | +0.152% | $458K | $218K | 50x | as long as short |
| Bitget WUSDT | +0.0100% | 4h | 0.01183 | +0.068% | $1.3M | $573K | 50x | as long as short |
OKX W-USDT-SWAP
Deribit W_USDC-PERPETUAL
Injective W/USDC PERP
Hyperliquid W
Binance WUSDT
Bybit WUSDT
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-USDTlong | +0.0100% | 4h | 0.01182 | long leg | — | $6.9M | — | |
| Variational Omni W | +0.0100% | 4h | 0.01179 | −0.255% | $71K | $42K | — | as long as short |
| GRVT W_USDT_Perp | +0.0100% | 4h | 0.01180 | −0.153% | $130K | $385K | 10x | as long as short |
| Extended W-USD | +0.0104% | 1h | 0.01183 | +0.033% | $59K | $228K | 5x | as long as short |
| Coinbase International W-PERP-INTX | +0.0248% | 1h | 0.01184 | +0.135% | $14K | $17K | 50x | as long as short |
| Kraken Futures PF_WUSD | +0.0717% | 1h | 0.01185 | +0.271% | $147K | $181K | 20x | as long as short |
| Backpack W_USDC_PERPshort | +0.1230% | 1h | 0.01184 | +0.178% | $44K | $47K | 15x |
Variational Omni W
GRVT W_USDT_Perp
Extended W-USD
Coinbase International W-PERP-INTX
Kraken Futures PF_WUSD