Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.003%

Price spread now: BingX against Lighter−0.015%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

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

costs, in and out, $10k−$150.152% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 7 days+0.065%+$6 · spread now −0.015%, 7d avg −0.011%

Together, before fees+0.094%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	802.18	0.0096	pay 0.0012% / 1h	57m 47s	$2.8M	$4.1M	20x
Short	BingX BNB-USDC	802.06	0.0052	get 0.0052% / 8h	57m 47s	—	$13.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$9.24
Price spread: −0.015% → −0.011%: −$0.44
Slippage, 4 orders: −$5.23
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$24.9
Costs to cover: 0.152%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; BingX: 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 Lighter live order book, 5 min ago	0.65 bp	0.6 bp −$1	3.7 bp −$37	15.0 bp −$1,495	67.0 bp −$33.5K
Sell BingX live order book, 5 min ago	0.31 bp	7.8 bp −$8	11.9 bp −$119	18.8 bp −$1,877	60.2 bp −$30.1K

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	801.85	−0.041%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	802.08	−0.013%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	801.59	−0.074%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	800.99	−0.149%	$3.0M	$28.4M	10x	as long as short
StandX BNB-USD	0.0000%	1h	802.01	−0.022%	$867K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.90	−0.035%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	800.04	−0.267%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDCshort	+0.0052%	8h	802.06	−0.015%	—	$13.3M	—
Bybit BNBUSDT	+0.0066%	8h	801.46	−0.090%	$139.3M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.183%	$607K	$998K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNBlong	+0.0096%	1h	802.18	long leg	$2.8M	$4.1M	20x
Nado BNB-PERP	+0.0100%	1h	801.96	−0.028%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	802.00	−0.023%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	801.60	−0.073%	$54.8M	$113.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	802.50	+0.039%	$53K	$134K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	801.45	−0.092%	$35.8M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	801.87	−0.039%	$28.0M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	801.55	−0.079%	$79.7M	$27.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	800.55	−0.204%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	800.56	−0.202%	$161K	$442K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	802.24	+0.007%	$119K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.93	−0.032%	$388K	$489K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	802.07	−0.014%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	802.22	+0.004%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.95	−0.030%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	802.56	+0.047%	$78K	$19K	50x	as long as short
Aster BNBUSDT	+0.0100%	8h	802.64	+0.057%	$6.4M	$19.0M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	801.44	−0.093%	$1.9M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	802.18	0.000%	$385K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0114%	8h	802.39	+0.026%	$70.2M	$51.1M	50x	as long as short
Kalshi KXBNBPERP	+0.0117%	8h	802.40	+0.027%	$109K	$2.9M	4.8x	as long as short
MEXC BNB_USDT	+0.0120%	8h	802.90	+0.089%	$83.4M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0121%	8h	802.55	+0.045%	$502.2M	$819.4M	75x	as long as short
Phoenix BNB	+0.0155%	1h	800.77	−0.176%	$172K	$34K	10x	as long as short
BloFin BNB-USDT	+0.0241%	8h	801.83	−0.044%	$18.2M	$2.5M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	801.14	−0.131%	$71K	$48K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.33	+0.018%	$1.1M	$1.4M	20x	as long as short
SoDEX BNB-USD	+0.0287%	1h	801.90	−0.035%	$394K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.129%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	802.36	+0.022%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.362%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.83	−0.044%	$6K	$3K	40x	as long as short
Hyperliquid BNB	+0.0337%	1h	802.57	+0.048%	$51.9M	$21.6M	10x	as long as short
Backpack BNB_USDC_PERP	+0.0431%	1h	802.42	+0.029%	$2.7M	$5.7M	40x	as long as short
01 Exchange BNBUSD	+0.0432%	1h	803.13	+0.118%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0465%	1h	801.56	−0.078%	$162K	$62K	10x	as long as short