Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against KuCoin+0.046%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.037%−$4 on $10k

Price spread, last 7 days−0.049%−$5 · spread now +0.046%, 7d avg +0.019%

Together, before fees−0.086%+ Points / potential airdropLighter: Season 3 · farm board−$9 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 0.027% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	800.63	0.0100	pay 0.0100% / 8h	1h 27m	$28.0M	$10.6M	75x
Short	Lighter BNB	801.00	0.0096	get 0.0012% / 1h	27m 42s	$2.8M	$4.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$0.84
Price spread: +0.046% → +0.019%: $2.71
Slippage, 4 orders: −$12.01
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.14
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	0.94 bp	12.3 bp −$12	23.1 bp −$231	55.5 bp −$5,549	doesn't fit
Sell Lighter live order book, 5 min ago	0.75 bp	1.5 bp −$1	4.5 bp −$45	12.4 bp −$1,237	65.9 bp −$33.0K

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 −0.0201% / S +0.0372%	1h	801.11	+0.060%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.26	+0.204%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	801.73	+0.137%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	802.10	+0.184%	$158K	$2.8M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.32	+0.211%	$867K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.17	+0.067%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0040%	8h	800.85	+0.027%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0065%	8h	800.82	+0.024%	—	$35.0M	—	as long as short
Bybit BNBUSDT	+0.0079%	8h	800.31	−0.040%	$139.4M	$83.1M	75x	as long as short
Lighter BNBshort	+0.0096%	1h	801.00	+0.046%	$2.8M	$4.2M	20x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	+0.067%	$610K	$1.0M	50x	as long as short
Aster BNBUSDT	+0.0099%	8h	801.33	+0.088%	$6.3M	$19.3M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	801.61	+0.122%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	800.84	+0.026%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.50	−0.016%	$54.8M	$117.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.20	+0.071%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.60	−0.004%	$35.7M	$58.3M	75x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	800.63	long leg	$28.0M	$10.6M	75x
Bitget BNBUSDT	+0.0100%	8h	800.57	−0.007%	$80.9M	$26.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	802.78	+0.269%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.46	+0.229%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.60	+0.121%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.94	+0.039%	$387K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.15	+0.065%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.61	+0.122%	$12K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	801.25	+0.077%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.97	+0.043%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.43	+0.100%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.28	−0.044%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.31	+0.085%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.70	+0.134%	$83.3M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.31	+0.085%	$503.7M	$829.5M	75x	as long as short
SoDEX BNB-USD	+0.0125%	1h	800.90	+0.034%	$394K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0126%	8h	801.34	+0.089%	$70.0M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	801.68	+0.131%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0160%	1h	801.59	+0.120%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0197%	1h	800.59	−0.006%	$161K	$62K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0207%	1h	800.77	+0.018%	$2.6M	$984K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	802.15	+0.190%	$18.5M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0283%	1h	801.79	+0.145%	$51.9M	$22.3M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.557%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.05	+0.052%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	801.04	+0.051%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	802.55	+0.240%	$28K	$1K	10x	as long as short
Bulk BNB-USD	+0.0354%	1h	801.59	+0.119%	$651K	$21K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0665%	1h	801.53	+0.112%	$2.7M	$5.6M	40x	as long as short