BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0167%/8h= −18.3% APRnext payment −$0.21 per $10,000 · paid last 24h −0.006%

Price spread now: Lighter against Kraken Futures+0.044%7-day average +0.030% · 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−$22as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Kraken Futures Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 4 days (all we have)+0.115%+$12 · spread now +0.044%, 7d avg +0.030%

Together, before fees+0.148%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	789.88	0.0263	pay 0.0033% / 1h	43m 33s	$2.5M	$1.2M	50x
Short	Lighter BNB	790.23	0.0096	get 0.0012% / 1h	43m 33s	$2.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Kraken Futures. 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 Kraken FuturesbpFee LighterbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$35.09
Price spread: +0.044% → +0.030%: $1.4
Slippage, 4 orders: −$13.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$57.28
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Lighter: live order book, 9 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 Kraken Futures live order book, 5 min ago	1.65 bp	11.4 bp −$11	17.5 bp −$175	39.9 bp −$3,994	121.5 bp −$60.8K
Sell Lighter live order book, 9 min ago	0.75 bp	0.8 bp −$1	3.9 bp −$39	13.3 bp −$1,327	69.8 bp −$34.9K

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 −0.0184% / S +0.0349%	1h	789.94	+0.008%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	790.43	+0.070%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.01	+0.017%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.29	−0.074%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.926%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	790.56	+0.086%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	790.07	+0.024%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	−0.054%	$582K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0067%	8h	790.10	+0.028%	$80.2M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	790.12	+0.031%	$493.0M	$789.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	790.69	+0.103%	$69.2M	$50.0M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	790.23	+0.044%	$2.7M	$3.8M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	790.12	+0.031%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.65	−0.029%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.83	−0.006%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.28	+0.051%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.30	−0.073%	$138.8M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.30	−0.073%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.20	+0.041%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.85	−0.004%	$35.4M	$56.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.25	−0.080%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.30	−0.073%	$76.4M	$30.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	790.53	+0.082%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.50	−0.174%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.10	−0.099%	$4.1M	$74.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.85	−0.004%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.62	−0.033%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	790.18	+0.039%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.63	+0.095%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	790.20	+0.041%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.91	+0.004%	$8.1M	$9.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	790.73	+0.108%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.64	−0.030%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	790.12	+0.031%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.10	+0.028%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.81	−0.009%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0136%	8h	789.89	+0.002%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0182%	8h	790.10	+0.028%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	789.81	−0.009%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	790.23	+0.044%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSDlong	+0.0263%	1h	789.88	long leg	$2.5M	$1.2M	50x
Bulk BNB-USD	+0.0272%	1h	789.78	−0.012%	$640K	$9K	10x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.90	−0.124%	$6K	$3K	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	790.55	+0.085%	$1.5M	$143K	25x	as long as short
RISEx BNB/USDC	+0.0461%	1h	790.34	+0.058%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0504%	1h	790.00	+0.016%	$67K	$38K	12x	as long as short