Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h −0.002%

Price spread now: Lighter against Aster−0.045%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

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

costs, in and out, $10k−$110.107% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days−0.047%−$5 · spread now −0.045%, 7d avg −0.081%

Together, before fees−0.029%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.036% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BNBUSDT	786.20	0.0028	pay 0.0028% / 8h	2h 42m	$6.1M	$18.9M	200x
Short	Lighter BNB	785.84	0.0096	get 0.0012% / 1h	42m 43s	$2.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.045%Rate

Funding earned: $14.2
Price spread: −0.045% → −0.081%: $3.58
Slippage, 4 orders: −$2.71
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $7.07
Costs to cover: 0.107%
Break-even: 3.5 days

Slippage from Aster: live order book, 1 min ago; Lighter: live order book, 5 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 Aster live order book, 1 min ago	0.38 bp	4.5 bp −$4	5.3 bp −$53	18.0 bp −$1,798	doesn't fit
Sell Lighter live order book, 5 min ago	0.38 bp	0.7 bp −$1	2.8 bp −$28	13.1 bp −$1,312	70.5 bp −$35.3K

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 −0.0192% / S +0.0356%	1h	785.49	−0.090%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.09	+0.114%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.38	+0.151%	$849K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.61	−0.075%	$9.5M	—	150x	as long as short
Aster BNBUSDTlong	+0.0028%	8h	786.20	long leg	$6.1M	$18.9M	200x
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.403%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0039%	8h	785.72	−0.061%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0051%	8h	786.50	+0.039%	$79.7M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0052%	8h	786.15	−0.006%	$489.7M	$804.5M	75x	as long as short
Phemex BNBUSDT	+0.0054%	8h	786.12	−0.010%	$68.8M	$50.6M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0057%	1h	785.67	−0.066%	$159K	$61K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0069%	1h	785.57	−0.079%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	+0.161%	$578K	$1.9M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	785.84	−0.045%	$2.7M	$3.8M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	785.66	−0.068%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	785.85	−0.044%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.32	+0.016%	$51.6M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.89	−0.039%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.50	−0.089%	$138.0M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.40	−0.101%	$53.3M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.40	+0.026%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.80	−0.050%	$36.2M	$58.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.79	−0.052%	$27.5M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.51	−0.087%	$76.0M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.16	−0.005%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.41	+0.027%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.45	+0.160%	$4.1M	$74.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.06	+0.110%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.75	−0.057%	$131K	$951K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.75	−0.057%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.42	+0.028%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.70	−0.063%	$386K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	785.72	−0.061%	$8.0M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.89	−0.040%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.36	−0.107%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.62	−0.074%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.15	+0.121%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	786.50	+0.039%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0172%	8h	786.34	+0.018%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.01	−0.023%	$1.5M	$143K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0202%	8h	787.62	+0.182%	$2.9M	$29.3M	10x	as long as short
Bulk BNB-USD	+0.0260%	1h	788.17	+0.251%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0304%	1h	786.70	+0.064%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	785.61	−0.074%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	786.46	+0.034%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	786.90	+0.089%	$67K	$39K	12x	as long as short