Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against HTX−0.005%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$210.208% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 3 days (all we have)+0.202%+$20 · spread now −0.005%, 7d avg +0.036%

Together, before fees+0.136%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.041% cheaper against HTX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BNB-USDT	803.29	0.0100	pay 0.0100% / 8h	2h 36m	$8.2M	$7.4M	75x
Short	Lighter BNB	803.25	0.0096	get 0.0012% / 1h	36m 10s	$2.8M	$4.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$0.84
Price spread: −0.005% → +0.036%: −$4.11
Slippage, 4 orders: −$8.78
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$25.73
Costs to cover: 0.208%
Break-even: never at this rate

Slippage from HTX: live order book, 3 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 HTX live order book, 3 min ago	1.41 bp	9.6 bp −$10	12.2 bp −$122	41.1 bp −$4,112	doesn't fit
Sell Lighter live order book, 6 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	802.98	−0.038%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.88	−0.051%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	803.28	−0.001%	$3.0M	$29.7M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	803.60	+0.038%	$111K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.078%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	802.99	−0.038%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.13	−0.020%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0055%	8h	802.35	−0.117%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0062%	8h	803.17	−0.015%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0078%	8h	802.62	−0.084%	$139.2M	$82.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	803.99	+0.087%	$608K	$878K	50x	as long as short
Aster BNBUSDT	+0.0088%	8h	803.81	+0.064%	$6.4M	$18.8M	200x	as long as short
Lighter BNBshort	+0.0096%	1h	803.25	−0.005%	$2.8M	$4.2M	20x
Nado BNB-PERP	+0.0100%	1h	802.81	−0.060%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	803.35	+0.007%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.00	−0.036%	$55.1M	$115.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.40	+0.013%	$52K	$161K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.85	−0.055%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.86	−0.054%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.68	−0.076%	$79.0M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.02	−0.034%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	803.43	+0.017%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	803.05	−0.030%	$118K	$868K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	803.04	−0.031%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.09	−0.025%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.59	+0.037%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	803.49	+0.024%	$1.6M	$165K	25x	as long as short
HTX BNB-USDTlong	+0.0100%	8h	803.29	long leg	$8.2M	$7.4M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	803.87	+0.072%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0103%	8h	804.10	+0.100%	$84.4M	$13.6M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	802.61	−0.085%	$1.9M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.19	−0.012%	$386K	$40K	10x	as long as short
Binance BNBUSDT	+0.0104%	8h	803.74	+0.056%	$518.4M	$803.0M	75x	as long as short
Phemex BNBUSDT	+0.0125%	8h	803.65	+0.044%	$70.1M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.30	+0.001%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0129%	1h	803.10	−0.024%	$395K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0146%	1h	803.80	+0.063%	$51.6M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0194%	1h	803.61	+0.039%	$649K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	803.47	+0.022%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0223%	8h	804.26	+0.120%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.74	+0.055%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0263%	1h	803.57	+0.034%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0312%	1h	803.93	+0.079%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	802.82	−0.059%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.203%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0675%	1h	804.57	+0.159%	$3.0M	$5.3M	40x	as long as short