Backpack pays 3.64% APY on USD and up to 12 stock Mystery Boxes for deposits made by 8 November

What Backpack announced

Backpack opened a new deposit campaign on 2 November 2026 under the line "Deposit. Earn. Unpack real stocks." Its official X post says users can earn 3.64% APY on USD while that USD is still used as trading collateral, and can unlock up to 12 Deposit Mystery Boxes. The rule in the post is short: opt in and deposit by 8 November, then keep the funds on Backpack through 22 November.

The official Backpack blog post, published the same day, gives the full terms. Deposits count from 2 November at 00:00 UTC until 8 November at 23:59 UTC. The holding period ends on 22 November at 23:59 UTC. The campaign card adds that the APY figure is the rate as of 2 November, that it is variable and that terms apply.

How the boxes are counted

You have to opt in on the Deposit and Earn quest page by 8 November, but deposits you made earlier in the window still count after you opt in. Eligible deposits are USD bank deposits and crypto transferred in from outside Backpack between 2 and 8 November. Moving funds you already hold on Backpack does not count as a new external deposit under these rules.

Backpack measures qualifying net deposits: eligible external deposits from 2 to 8 November, minus withdrawals and transfers to other users from 2 November through 22 November. You can keep trading during the holding period, and trading gains or losses do not change your net deposit figure. Crypto is valued at 8 November reference prices, so later price moves do not change your level.

There are four levels. Qualifying net deposits from $1,000 to under $10,000 unlock 1 box; $10,000 to under $50,000 unlock 4; $50,000 to under $200,000 unlock 8; and $200,000 or more unlock 12. Only your highest level applies, so the maximum is 12 boxes per person.

What is inside a box

Every Deposit Mystery Box holds one real US stock. Backpack says these boxes have different reward values and probabilities from its trading Mystery Boxes, but the blog post does not publish the odds or values for the deposit version. If you cannot receive US stocks in your jurisdiction, Backpack pays the equivalent reward value in USD instead.

Boxes are distributed to Rewards around 23 November, after eligibility checks. Backpack can withhold rewards from, or disqualify, participants it finds engaging in abusive or manipulative activity, including multi-account abuse.

The 3.64% USD yield

The yield part is separate from the boxes. Backpack says eligible users who enable lending earn 3.64% APY on USD while using it as collateral for trading. The rate is variable and not guaranteed, and Backpack notes that lending involves risk. Lending is optional: you do not need to enable it to qualify for Mystery Boxes.

Who can join

Participants must have completed identity verification, and each person can take part once. The campaign is not available to users in the US, the UK or the EU, or to market makers, so readers in the Netherlands and other EU countries cannot join.

Before you move funds

The levels are based on money that stays put for about three weeks, so the useful question is whether you would hold that balance on Backpack anyway. A withdrawal before 22 November lowers your qualifying amount and can drop you to a lower level. Because the box odds and values for this campaign are not published, treat the boxes as an unknown bonus rather than a fixed return. If you are opening a new Backpack account, the code on this page applies to trading fees, not to this campaign.