Funding you earn now, next payment 07:00 UTC−0.0104%/8h= −11.4% APRnext payment −$0.13 per $10,000 · paid last 24h −0.029%
Price spread now: Lighter against Deribit−0.041%7-day average −0.020% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$200.198% of the position
Funding, last 7 days−0.165%−$16 on $10k
+Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.041%, 7d avg −0.020%
=Together, before fees−0.136%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.021% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.020%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BNB_USDC-PERPETUAL | 786.55 | 0.0200 | pay 0.0025% / 1h | 37m 21s | $1.5M | $143K | 25x |
| Short | Lighter BNB | 786.23 | 0.0096 | get 0.0012% / 1h | 37m 21s | $2.7M | $3.8M | 20x |
Deribit BNB_USDC-PERPETUAL
Lighter BNBFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Deribit. 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
- −$21.84
- Price spread: −0.041% → −0.020%
- −$2.13
- Slippage, 4 orders
- −$12.83
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$43.8
- Costs to cover
- 0.198%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 2 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 Deribit live order book, 2 min ago | 2.61 bp | 9.8 bp −$10 | 16.4 bp −$164 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 1.40 bp | 1.4 bp −$1 | 3.7 bp −$37 | 14.5 bp −$1,449 | 74.0 bp −$37.0K |
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 −0.0170% / S +0.0337% | 1h | 786.02 | −0.068% | $43K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 786.49 | −0.008% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 786.63 | +0.010% | $848K | $2.8M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 785.91 | −0.081% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.357% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0049% | 8h | 786.71 | +0.020% | $6.0M | $18.9M | 200x | as long as short |
| BingX BNB-USDT | +0.0052% | 8h | 786.25 | −0.038% | — | $22.3M | — | as long as short |
| MEXC BNB_USDT | +0.0064% | 8h | 787.30 | +0.095% | $81.0M | $12.0M | 200x | as long as short |
| Binance BNBUSDT | +0.0064% | 8h | 786.71 | +0.020% | $490.1M | $814.8M | 75x | as long as short |
| dYdX BNB-USD | +0.0065% | 1h | 785.68 | −0.111% | $159K | $62K | 10x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
BingX BNB-USDT
MEXC BNB_USDT
Binance BNBUSDT
dYdX BNB-USDShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex BNBUSDT | +0.0076% | 8h | 786.55 | 0.000% | $68.8M | $51.0M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 786.88 | +0.042% | $568K | $1.9M | 50x | as long as short |
| Lighter BNBshort | +0.0096% | 1h | 786.23 | −0.041% | $2.7M | $3.8M | 20x | |
| Nado BNB-PERP | +0.0100% | 1h | 786.00 | −0.070% | $1.4M | $2.7M | 20x | as long as short |
| Hyperliquid BNB | +0.0100% | 1h | 786.72 | +0.021% | $51.5M | $17.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 786.37 | −0.023% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 785.91 | −0.082% | $138.3M | $75.2M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 786.00 | −0.070% | $53.4M | $113.0M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 786.30 | −0.032% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 786.15 | −0.051% | $37.2M | $58.9M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 785.85 | −0.089% | $27.6M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 785.94 | −0.078% | $76.1M | $31.1M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 786.43 | −0.015% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 785.91 | −0.081% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 786.30 | −0.032% | $4.1M | $75.9M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 786.60 | +0.006% | $158K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 785.98 | −0.073% | $131K | $949K | 10x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 786.14 | −0.052% | $264K | $470K | 50x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 786.14 | −0.052% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 786.53 | −0.002% | $13K | $1.5M | 50x | as long as short |
| SoDEX BNB-USD | +0.0100% | 1h | 786.30 | −0.032% | $387K | $983K | 10x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 786.07 | −0.061% | $8.0M | $10.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 786.64 | +0.011% | $78K | $18K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 785.76 | −0.101% | $1.8M | $6.1M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 786.13 | −0.054% | $378K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0135% | 1h | 786.77 | +0.028% | $169K | $35K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0138% | 8h | 786.40 | −0.019% | $171K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0185% | 8h | 786.74 | +0.024% | $17.7M | $2.2M | 75x | as long as short |
| Deribit BNB_USDC-PERPETUALlong | +0.0200% | 1h | 786.55 | long leg | $1.5M | $143K | 25x | |
| Kraken Futures PF_BNBUSD | +0.0206% | 1h | 785.95 | −0.076% | $2.5M | $1.2M | 50x | as long as short |
| GRVT BNB_USDT_Perp | +0.0229% | 8h | 787.18 | +0.080% | $2.9M | $29.5M | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0256% | 1h | 786.67 | +0.015% | $28K | $4K | 10x | as long as short |
| Bulk BNB-USD | +0.0305% | 1h | 787.08 | +0.068% | $638K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0322% | 1h | 785.81 | −0.095% | $6K | $3K | 40x | as long as short |
| RISEx BNB/USDC | +0.0438% | 1h | 786.40 | −0.020% | $1.1M | $914K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0536% | 1h | 786.12 | −0.055% | $67K | $39K | 12x | as long as short |
Phemex BNBUSDT
Coinbase International BNB-PERP-INTX
Nado BNB-PERP
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Orderly PERP_BNB_USDC
Derive BNB-PERP
SunX BNB-USDT
SoDEX BNB-USD
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
Kalshi KXBNBPERP
BloFin BNB-USDT
Kraken Futures PF_BNBUSD
GRVT BNB_USDT_Perp
01 Exchange BNBUSD
Bulk BNB-USD
Reya BNBRUSDPERP
RISEx BNB/USDC
Hibachi BNB/USDT-P