BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.030%

Price spread now: Deribit against Lighter+0.027%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$16 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.027%, 7d avg +0.020%

Together, before fees+0.143%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	786.63	0.0096	pay 0.0012% / 1h	42m 34s	$2.7M	$3.8M	20x
Short	Deribit BNB_USDC-PERPETUAL	786.84	0.0100	get 0.0013% / 1h	42m 34s	$1.5M	$145K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0.84
Price spread: +0.027% → +0.020%: $0.7
Slippage, 4 orders: −$11.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$16.5
Costs to cover: 0.180%
Break-even: 144.5 days

Slippage from Lighter: live order book, 5 min ago; Deribit: live order book, 1 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	3.8 bp −$38	14.2 bp −$1,421	70.8 bp −$35.4K
Sell Deribit live order book, 1 min ago	2.61 bp	6.1 bp −$6	12.2 bp −$122	doesn't fit	doesn't fit

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 −0.0168% / S +0.0337%	1h	786.45	−0.023%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.19	+0.072%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	786.43	−0.025%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	787.35	+0.092%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.51	−0.015%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.347%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0045%	8h	786.66	+0.004%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0046%	8h	787.04	+0.052%	$6.0M	$18.9M	200x	as long as short
dYdX BNB-USD	+0.0052%	1h	786.54	−0.011%	$159K	$62K	10x	as long as short
MEXC BNB_USDT	+0.0055%	8h	787.60	+0.124%	$81.1M	$11.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0055%	8h	787.08	+0.058%	$489.1M	$821.5M	75x	as long as short
Phemex BNBUSDT	+0.0077%	8h	787.01	+0.049%	$68.8M	$51.3M	50x	as long as short
Lighter BNBlong	+0.0096%	1h	786.63	long leg	$2.7M	$3.8M	20x
Phoenix BNB	+0.0100%	1h	787.73	+0.140%	$169K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.35	−0.035%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.74	+0.014%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.68	+0.006%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.62	−0.001%	$138.4M	$74.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.60	−0.003%	$53.5M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.009%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.50	−0.016%	$38.3M	$57.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.23	−0.050%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.46	−0.021%	$76.4M	$31.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.80	+0.022%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	+0.047%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.76	+0.144%	$4.1M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.25	+0.079%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.65	+0.003%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.48	−0.019%	$265K	$430K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.62	−0.001%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.11	+0.061%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.60	−0.003%	$387K	$974K	10x	as long as short
Deribit BNB_USDC-PERPETUALshort	+0.0100%	1h	786.84	+0.027%	$1.5M	$145K	25x
HTX BNB-USDT	+0.0100%	8h	786.86	+0.030%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.00	+0.047%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.14	−0.062%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.45	−0.022%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	787.21	+0.074%	$557K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0114%	8h	787.10	+0.060%	$171K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0175%	8h	787.18	+0.070%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0210%	1h	786.98	+0.045%	$638K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0225%	8h	787.62	+0.127%	$2.9M	$28.7M	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	787.06	+0.055%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.55	−0.010%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.90	+0.035%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0456%	1h	786.91	+0.036%	$67K	$39K	12x	as long as short