Funding you earn now, next payment 22:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h −0.059%
Price spread now: Lighter against Bulk−0.045%7-day average −0.076% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$110.109% of the position
Funding, last 3 days (all we have)−0.226%−$23 on $10k
+Price spread, last 4 days (all we have)−0.006%−$1 · spread now −0.045%, 7d avg −0.076%
=Together, before fees−0.232%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.031% dearer against Bulk than usual: you sell high and buy low (spread −0.045% now, against its 7-day average of −0.076%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 3 days (−0.226% in total) that is about 11 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bulk BNB-USD | 803.61 | 0.0194 | pay 0.0024% / 1h | 37m 50s | $649K | $11K | 10x |
| Short | Lighter BNB | 803.24 | 0.0096 | get 0.0012% / 1h | 37m 50s | $2.8M | $4.2M | 20x |
Bulk BNB-USD
Lighter BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Bulk. 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
- −$20.5
- Price spread: −0.045% → −0.076%
- $3.05
- Slippage, 4 orders
- −$3.9
- Fee Bulk: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$28.34
- Costs to cover
- 0.109%
- Break-even
- never at this rate
Slippage from Bulk: live order book, 51 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 Bulk live order book, 51 min ago | 0.31 bp | 3.8 bp −$4 | 4.4 bp −$44 | 7.8 bp −$780 | 21.5 bp −$10.8K |
| Sell Lighter live order book, 5 min ago | 1.13 bp | 1.4 bp −$1 | 3.8 bp −$38 | 12.5 bp −$1,250 | 68.1 bp −$34.0K |
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 −0.0195% / S +0.0371% | 1h | 803.00 | −0.076% | $48K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 802.88 | −0.091% | $4K | $1K | 25x | as long as short |
| GRVT BNB_USDT_Perp | 0.0000% | 8h | 803.28 | −0.041% | $3.0M | $29.7M | 10x | as long as short |
| Kalshi KXBNBPERP | 0.0000% | 8h | 803.70 | +0.011% | $113K | $2.5M | 4.8x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 803.58 | −0.004% | $868K | $3.0M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0008% / S −0.0007% | 1h | 803.03 | −0.073% | $9.8M | — | 150x | as long as short |
| Kraken Futures PF_BNBUSD | +0.0038% | 1h | 803.11 | −0.063% | $2.5M | $908K | 50x | as long as short |
| Variational Omni BNB | +0.0055% | 8h | 802.35 | −0.156% | $4.0M | $5.4M | — | as long as short |
| BingX BNB-USDC | +0.0062% | 8h | 803.04 | −0.071% | — | $13.3M | — | as long as short |
| Bybit BNBUSDT | +0.0080% | 8h | 802.80 | −0.101% | $139.3M | $82.8M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
GRVT BNB_USDT_Perp
Kalshi KXBNBPERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Kraken Futures PF_BNBUSD
Variational Omni BNB
BingX BNB-USDC
Bybit BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster BNBUSDT | +0.0086% | 8h | 803.84 | +0.028% | $6.4M | $18.8M | 200x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0088% | 1h | 803.99 | +0.047% | $608K | $878K | 50x | as long as short |
| Lighter BNBshort | +0.0096% | 1h | 803.24 | −0.045% | $2.8M | $4.2M | 20x | |
| Nado BNB-PERP | +0.0100% | 1h | 802.34 | −0.158% | $1.4M | $2.8M | 20x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 802.67 | −0.117% | $1.2M | $923K | 20x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 803.20 | −0.051% | $55.1M | $115.4M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 802.80 | −0.101% | $52K | $161K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 803.00 | −0.076% | $35.9M | $58.4M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 803.19 | −0.052% | $28.1M | $10.5M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 803.09 | −0.065% | $79.0M | $24.5M | 75x | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 803.51 | −0.013% | $4.2M | $76.8M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 803.43 | −0.022% | $158K | $438K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 802.58 | −0.128% | $118K | $868K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 803.07 | −0.067% | $388K | $593K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 803.17 | −0.055% | $32K | $5K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 803.69 | +0.010% | $13K | $1.7M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 802.55 | −0.132% | $8.2M | $7.4M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0100% | 8h | 803.23 | −0.047% | $78K | $19K | 50x | as long as short |
| MEXC BNB_USDT | +0.0103% | 8h | 804.60 | +0.123% | $84.4M | $13.6M | 200x | as long as short |
| Binance BNBUSDT | +0.0103% | 8h | 803.91 | +0.037% | $518.4M | $803.3M | 75x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 803.31 | −0.037% | $1.9M | $6.1M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 803.28 | −0.041% | $386K | $40K | 10x | as long as short |
| Phemex BNBUSDT | +0.0121% | 8h | 803.69 | +0.010% | $70.1M | $51.7M | 50x | as long as short |
| SoDEX BNB-USD | +0.0124% | 1h | 803.10 | −0.063% | $395K | $1.0M | 10x | as long as short |
| Phoenix BNB | +0.0125% | 1h | 803.50 | −0.014% | $173K | $35K | 10x | as long as short |
| Hyperliquid BNB | +0.0150% | 1h | 803.94 | +0.041% | $51.6M | $21.3M | 10x | as long as short |
| Bulk BNB-USDlong | +0.0194% | 1h | 803.61 | long leg | $649K | $11K | 10x | |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 803.56 | −0.006% | $1.6M | $165K | 25x | as long as short |
| RISEx BNB/USDC | +0.0209% | 1h | 802.93 | −0.084% | $1.1M | $1.4M | 20x | as long as short |
| BloFin BNB-USDT | +0.0223% | 8h | 802.88 | −0.091% | $18.8M | $3.1M | 75x | as long as short |
| Hibachi BNB/USDT-P | +0.0256% | 1h | 802.85 | −0.094% | $71K | $49K | 12x | as long as short |
| dYdX BNB-USD | +0.0259% | 1h | 802.24 | −0.170% | $170K | $55K | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0312% | 1h | 803.37 | −0.030% | $28K | $1K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0334% | 1h | 802.56 | −0.130% | $6K | $3K | 40x | as long as short |
| Injective BNB/USDC PERP | +0.0353% | 1h | 804.92 | +0.163% | $19K | $526K | 30x | as long as short |
| Backpack BNB_USDC_PERP | +0.0678% | 1h | 804.17 | +0.070% | $3.0M | $5.3M | 40x | as long as short |
Aster BNBUSDT
Coinbase International BNB-PERP-INTX
Nado BNB-PERP
Pacifica BNB
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
MEXC BNB_USDT
Binance BNBUSDT
Extended BNB-USD
Aevo BNB-PERP
Phemex BNBUSDT
SoDEX BNB-USD
Phoenix BNB
Hyperliquid BNB
Deribit BNB_USDC-PERPETUAL
RISEx BNB/USDC
BloFin BNB-USDT
Hibachi BNB/USDT-P
dYdX BNB-USD
01 Exchange BNBUSD
Reya BNBRUSDPERP
Injective BNB/USDC PERP
Backpack BNB_USDC_PERP