Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0048%/8h= +5.2% APRpaid last 24h +0.012%

Price spread now: Lighter against BingX+0.001%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$180.178% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDC	793.81	0.0048	pay 0.0048% / 8h	6h 31m	—	$13.4M	—
Short	Lighter BNB	793.82	0.0096	get 0.0012% / 1h	31m 08s	$2.8M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.001%Rate

Funding earned: $10
Price spread: +0.001% → 0.000%: $0.07
Slippage, 4 orders: −$7.77
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.7
Costs to cover: 0.178%
Break-even: 12.4 days

Slippage from BingX: live order book, 2 min ago; Lighter: live order book, 6 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 BingX live order book, 2 min ago	0.31 bp	7.8 bp −$8	10.6 bp −$106	17.7 bp −$1,770	60.8 bp −$30.4K
Sell Lighter live order book, 6 min ago	0.97 bp	1.0 bp −$1	4.3 bp −$43	13.4 bp −$1,344	68.3 bp −$34.1K

BNB on 45 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 −0.0167% / S +0.0335%	1h	793.74	−0.009%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.65	−0.020%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.96	+0.019%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	794.76	+0.120%	$859K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.73	−0.010%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0025%	8h	793.33	−0.061%	$4.1M	$4.9M	—	as long as short
Gate BNB_USDT	+0.0029%	8h	793.60	−0.026%	$35.4M	$55.8M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.421%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	794.46	+0.082%	$6.1M	$19.7M	200x	as long as short
GRVT BNB_USDT_Perp	+0.0044%	8h	793.45	−0.045%	$3.0M	$28.8M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDClong	+0.0048%	8h	793.81	long leg	—	$13.4M	—
Phemex BNBUSDT	+0.0056%	8h	794.31	+0.063%	$69.5M	$50.6M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.333%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	794.40	+0.074%	$82.4M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	794.38	+0.072%	$494.2M	$812.0M	75x	as long as short
dYdX BNB-USD	+0.0064%	1h	793.98	+0.022%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	793.37	−0.055%	$170K	$36K	10x	as long as short
Lighter BNBshort	+0.0096%	1h	793.82	+0.001%	$2.8M	$4.0M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	793.64	−0.021%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.35	−0.058%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	794.18	+0.047%	$52.0M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	793.88	+0.009%	$1.2M	$926K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.65	−0.020%	$138.4M	$76.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	793.50	−0.039%	$53.2M	$110.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.90	+0.011%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	793.51	−0.038%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	793.51	−0.038%	$77.3M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.22	−0.075%	$4.1M	$77.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.21	−0.076%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.72	−0.011%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.91	+0.012%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.00	+0.024%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.90	+0.011%	$390K	$995K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.32	−0.062%	$8.1M	$8.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.90	+0.011%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.39	−0.052%	$1.7M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.84	+0.004%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.85	+0.004%	$1.1M	$1.3M	20x	as long as short
Kalshi KXBNBPERP	+0.0161%	8h	793.70	−0.014%	$111K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0175%	1h	792.60	−0.152%	$642K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	794.30	+0.062%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	793.51	−0.038%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0394%	1h	794.47	+0.083%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	794.26	+0.057%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	794.41	+0.075%	$68K	$38K	12x	as long as short