Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Lighter−0.043%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)−0.155%−$15 · spread now −0.043%, 7d avg −0.036%

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	789.38	0.0096	pay 0.0012% / 1h	51m 14s	$2.8M	$3.8M	20x
Short	HTX BNB-USDT	789.05	0.0100	get 0.0100% / 8h	3h 51m	$8.1M	$9.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.043%Rate

Funding earned: $0.84
Price spread: −0.043% → −0.036%: −$0.65
Slippage, 4 orders: −$10.86
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$22.67
Costs to cover: 0.229%
Break-even: 195.9 days

Slippage from Lighter: live order book, 6 min ago; HTX: live order book, 3 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, 6 min ago	0.75 bp	0.8 bp −$1	3.9 bp −$39	15.3 bp −$1,530	67.3 bp −$33.7K
Sell HTX live order book, 3 min ago	1.25 bp	11.6 bp −$12	16.3 bp −$163	54.4 bp −$5,437	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 −0.0191% / S +0.0355%	1h	789.42	+0.004%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	788.98	−0.051%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.66	+0.035%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	789.80	+0.053%	$135K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	790.39	+0.127%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.43	+0.006%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.990%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	789.72	+0.042%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDT	+0.0046%	8h	789.63	+0.031%	—	$34.4M	—	as long as short
Binance BNBUSDT	+0.0057%	8h	789.62	+0.030%	$493.2M	$795.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0057%	8h	790.10	+0.091%	$80.1M	$12.0M	200x	as long as short
Phemex BNBUSDT	+0.0062%	8h	789.84	+0.058%	$69.1M	$50.3M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.111%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	790.40	+0.129%	$170K	$35K	10x	as long as short
Lighter BNBlong	+0.0096%	1h	789.38	long leg	$2.8M	$3.8M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	789.42	+0.004%	$266K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.15	−0.030%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	790.00	+0.078%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.48	+0.012%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.10	−0.036%	$138.8M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	−0.036%	$53.5M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.40	+0.002%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.45	+0.008%	$35.8M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.09	−0.037%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.99	−0.050%	$76.4M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.86	+0.060%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.009%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.26	+0.111%	$4.1M	$73.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.15	+0.097%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.19	−0.025%	$130K	$956K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.48	+0.013%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.04	+0.084%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.50	+0.015%	$388K	$1.0M	10x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	789.05	−0.043%	$8.1M	$9.6M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	789.64	+0.032%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.08	−0.039%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.39	+0.001%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0125%	1h	789.96	+0.073%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0169%	8h	790.73	+0.170%	$3.0M	$28.6M	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	789.73	+0.044%	$18.1M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0234%	1h	790.66	+0.162%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	789.87	+0.061%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	789.81	+0.054%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	789.25	−0.017%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0376%	1h	790.16	+0.098%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	789.61	+0.029%	$1.1M	$892K	20x	as long as short