BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0251%/8h= +27.5% APRnext payment +$0.31 per $10,000 · paid last 24h +0.062%

Price spread now: Hyperliquid against Lighter+0.066%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$120.122% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 7 days−0.054%−$5 · spread now +0.066%, 7d avg +0.020%

Together, before fees+0.025%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Hyperliquid is 0.046% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.020%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.079% in total (about 4.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	798.49	0.0096	pay 0.0012% / 1h	46m 13s	$2.8M	$4.0M	20x
Short	Hyperliquid BNB	799.01	0.0347	get 0.0043% / 1h	46m 13s	$53.1M	$20.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.066%Rate

Funding earned: $52.66
Price spread: +0.066% → +0.020%: $4.61
Slippage, 4 orders: −$3.23
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $45.04
Costs to cover: 0.122%
Break-even: 1.0 days

Slippage from Lighter: live order book, 6 min ago; Hyperliquid: live order book, 7 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	6.1 bp −$61	15.8 bp −$1,578	68.4 bp −$34.2K
Sell Hyperliquid live order book, 7 min ago	0.25 bp	4.9 bp −$5	5.1 bp −$51	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 −0.0201% / S +0.0372%	1h	798.16	−0.041%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.10	−0.049%	$2.5M	$979K	50x	as long as short
Bybit BNBUSDT	−0.0095%	8h	797.80	−0.086%	$138.5M	$77.0M	75x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.80	+0.039%	$4K	$239	25x	as long as short
BingX BNB-USDT	−0.0049%	8h	798.26	−0.028%	—	$35.2M	—	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.33	−0.020%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.61	+0.016%	$863K	$2.9M	30x	as long as short
Variational Omni BNB	+0.0006%	8h	797.73	−0.095%	$4.1M	$5.4M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.13	−0.044%	$9.7M	—	150x	as long as short
Phemex BNBUSDT	+0.0013%	8h	798.78	+0.037%	$69.8M	$50.5M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BNB_USDT	+0.0025%	8h	798.00	−0.061%	$35.7M	$55.9M	75x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.827%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	798.00	−0.061%	$601K	$986K	50x	as long as short
Aster BNBUSDT	+0.0069%	8h	798.76	+0.035%	$6.2M	$19.3M	200x	as long as short
Binance BNBUSDT	+0.0091%	8h	798.78	+0.036%	$496.2M	$815.8M	75x	as long as short
MEXC BNB_USDT	+0.0091%	8h	799.00	+0.064%	$83.0M	$13.5M	200x	as long as short
Lighter BNBlong	+0.0096%	1h	798.49	long leg	$2.8M	$4.0M	20x
Phoenix BNB	+0.0099%	1h	798.23	−0.032%	$172K	$36K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.00	−0.061%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	798.54	+0.007%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	797.90	−0.073%	$54.1M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.70	+0.027%	$53K	$133K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.06	−0.053%	$27.9M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	797.84	−0.081%	$78.7M	$27.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.20	−0.036%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	798.13	−0.045%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.19	−0.037%	$118K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.18	−0.038%	$386K	$472K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.30	−0.023%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	798.71	+0.028%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.30	−0.023%	$392K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.36	−0.016%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.23	+0.093%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.68	−0.100%	$1.8M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.26	−0.028%	$383K	$108K	10x	as long as short
Bulk BNB-USD	+0.0118%	1h	798.39	−0.011%	$648K	$11K	10x	as long as short
Hibachi BNB/USDT-P	+0.0128%	1h	798.34	−0.019%	$70K	$34K	12x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.60	+0.014%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0155%	8h	798.90	+0.052%	$90K	$2.9M	4.8x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	798.64	+0.019%	$1.6M	$160K	25x	as long as short
BloFin BNB-USDT	+0.0211%	8h	798.80	+0.039%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0216%	1h	799.04	+0.069%	$28K	$1K	10x	as long as short
dYdX BNB-USD	+0.0318%	1h	797.97	−0.064%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	797.81	−0.085%	$6K	$3K	40x	as long as short
Hyperliquid BNBshort	+0.0347%	1h	799.01	+0.066%	$53.1M	$20.9M	10x
Backpack BNB_USDC_PERP	+0.0395%	1h	799.00	+0.064%	$2.7M	$5.7M	40x	as long as short