Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: Lighter against Bybit+0.043%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$170.165% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.043%, 7d avg +0.034%

Together, before fees+0.026%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	784.40	0.0100	pay 0.0100% / 8h	2h 23m	$137.8M	$74.7M	75x
Short	Lighter BNB	784.73	0.0096	get 0.0012% / 1h	23m 35s	$2.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$0.84
Price spread: +0.043% → +0.034%: $0.9
Slippage, 4 orders: −$5.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.46
Costs to cover: 0.165%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Lighter: live order book, 4 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 Bybit live order book, 5 min ago	0.64 bp	6.6 bp −$7	8.4 bp −$84	23.8 bp −$2,382	177.2 bp −$88.6K
Sell Lighter live order book, 4 min ago	1.65 bp	1.7 bp −$2	4.8 bp −$48	14.0 bp −$1,397	67.6 bp −$33.8K

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	784.62	+0.028%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.14	+0.094%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	785.75	+0.172%	$847K	$3.0M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.79	+0.049%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0033%	8h	785.15	+0.096%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.638%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0042%	8h	784.69	+0.037%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0050%	8h	785.37	+0.124%	$68.7M	$50.5M	50x	as long as short
MEXC BNB_USDT	+0.0056%	8h	785.20	+0.102%	$80.2M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	785.24	+0.107%	$489.3M	$811.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	784.93	+0.067%	$2.5M	$1.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	784.62	+0.028%	$567K	$1.9M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	784.73	+0.043%	$2.7M	$3.8M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	784.90	+0.064%	$264K	$489K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	+0.006%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.15	+0.096%	$51.4M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.84	+0.056%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	784.40	long leg	$137.8M	$74.7M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	784.30	−0.013%	$53.3M	$112.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.70	+0.038%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.55	+0.019%	$36.5M	$58.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.36	−0.005%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.18	−0.028%	$75.9M	$31.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.15	+0.096%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	783.72	−0.087%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.31	−0.011%	$4.1M	$75.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.92	+0.066%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.72	+0.041%	$131K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.04	+0.081%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.27	+0.111%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.93	+0.067%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.96	+0.071%	$76K	$17K	50x	as long as short
SoDEX BNB-USD	+0.0104%	1h	785.10	+0.089%	$386K	$993K	10x	as long as short
Extended BNB-USD	+0.0104%	1h	784.08	−0.040%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.01	+0.078%	$377K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	784.35	−0.006%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0141%	8h	785.00	+0.076%	$161K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0167%	1h	784.36	−0.005%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0176%	8h	785.45	+0.134%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0208%	8h	785.52	+0.143%	$2.9M	$29.3M	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	785.06	+0.084%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	785.69	+0.164%	$637K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0323%	1h	784.60	+0.026%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	785.40	+0.128%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0432%	1h	784.73	+0.042%	$1.1M	$905K	20x	as long as short
Hibachi BNB/USDT-P	+0.0512%	1h	784.74	+0.043%	$67K	$39K	12x	as long as short