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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 10:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h 0.000%
Price spread now: Kalshi against Lighter+0.088%7-day average +0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$220.220% of the position
Long on LighterShort on Kalshi
What this pair did over the last
the charts below follow
Funding, last 7 days−0.103%−$10 on $10k
Price spread, last 7 days−0.078%−$8 · spread now +0.088%, 7d avg +0.022%
Together, before fees−0.181%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kalshi is 0.066% dearer against Lighter than usual: you sell high and buy low (spread +0.088% now, against its 7-day average of +0.022%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter BNB786.710.0096pay 0.0012% / 1h19m 17s$2.7M$3.4M20x
ShortKalshi KXBNBPERP787.400get 0.0000% / 8h2h 19m$158K$2.5M4.8x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Kalshi 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

Funding earned
−$20.16
Price spread: +0.088% → +0.022%
$6.61
Slippage, 4 orders
−$11.95
Fee Lighter: 0 bp × 2 orders
$0
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$35.5
Costs to cover
0.220%
Break-even
never at this rate
Slippage from Lighter: live order book, 6 min ago; Kalshi: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 6 min ago1.13 bp1.5 bp −$14.1 bp −$4114.8 bp −$1,47666.9 bp −$33.4K
Sell Kalshi live order book, 2 min ago1.90 bp10.0 bp −$1014.1 bp −$141doesn't fitdoesn't fit

BNB on 45 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0166% / S +0.0336%1h786.58−0.016%$43K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h787.15+0.056%$4K—25xas long as short
Aster BNBUSDT0.0000%8h787.28+0.073%$5.9M$17.4M200xas long as short
GRVT BNB_USDT_Perp0.0000%8h787.34+0.080%$3.0M$26.4M10xas long as short
Kalshi KXBNBPERPshort0.0000%8h787.40+0.088%$158K$2.5M4.8x
StandX BNB-USD0.0000%1h786.95+0.031%$849K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h786.58−0.016%$9.5M—150xas long as short
MEXC BNB_USDT+0.0020%8h788.50+0.228%$83.3M$12.2M200xas long as short
Binance BNBUSDT+0.0020%8h787.29+0.074%$481.7M$779.7M75xas long as short
Injective BNB/USDC PERP+0.0033%1h805.09+2.337%$19K$789K30xas long as short
Show all 45 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_BNBUSD+0.0035%1h786.56−0.019%$2.5M$1.3M50xas long as short
Bybit BNBUSDT+0.0073%8h786.40−0.039%$138.5M$68.6M75xas long as short
BloFin BNB-USDT+0.0081%8h787.74+0.131%$17.6M$2.2M75xas long as short
Phoenix BNB+0.0094%1h787.39+0.087%$158K$45K10xas long as short
Phemex BNBUSDT+0.0096%8h787.39+0.087%$68.4M$51.2M50xas long as short
Lighter BNBlong+0.0096%1h786.71long leg$2.7M$3.4M20x
Nado BNB-PERP+0.0100%1h786.50−0.026%$1.4M$2.4M20xas long as short
Hyperliquid BNB+0.0100%1h787.36+0.083%$51.8M$17.0M10xas long as short
Pacifica BNB+0.0100%1h786.85+0.018%$1.2M$933K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h786.30−0.052%$53.4M$104.0M50xas long as short
Arcus BNB-USD+0.0100%1h787.00+0.037%$57K$122K10xas long as short
Gate BNB_USDT+0.0100%8h786.75+0.005%$40.7M$55.3M75xas long as short
KuCoin BNBUSDTM+0.0100%8h786.49−0.028%$28.2M$9.7M75xas long as short
Bitget BNBUSDT+0.0100%8h786.39−0.040%$75.5M$32.3M75xas long as short
BingX BNB-USDC+0.0100%8h786.95+0.031%—$13.4M—as long as short
Backpack BNB_USDC_PERP+0.0100%1h787.20+0.063%$2.2M$6.1M40xas long as short
Variational Omni BNB+0.0100%8h786.49−0.028%$4.3M$4.5M—as long as short
edgeX BNBUSDC+0.0100%4h787.61+0.115%$4.1M$75.5M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h787.82+0.141%$159K$445K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h786.83+0.016%$130K$911K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h786.66−0.006%$264K$299K50xas long as short
SunX BNB-USDT+0.0100%8h787.34+0.080%$12K$1.4M50xas long as short
SoDEX BNB-USD+0.0100%1h786.80+0.012%$387K$928K10xas long as short
HTX BNB-USDT+0.0100%8h786.95+0.031%$8.0M$10.2M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h787.12+0.053%$78K$337K50xas long as short
Extended BNB-USD+0.0104%1h786.11−0.076%$1.8M$5.6M50xas long as short
Aevo BNB-PERP+0.0104%1h786.66−0.006%$378K$110K10xas long as short
Coinbase International BNB-PERP-INTX+0.0136%1h786.42−0.037%$544K$1.9M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0200%1h786.98+0.035%$1.5M$158K25xas long as short
Bulk BNB-USD+0.0212%1h787.70+0.127%$638K$010xas long as short
01 Exchange BNBUSD+0.0240%1h787.35+0.082%$28K$3K10xas long as short
Reya BNBRUSDPERP+0.0318%1h786.32−0.050%$6K$3K40xas long as short
RISEx BNB/USDC+0.0345%1h787.23+0.066%$1.1M$910K20xas long as short
Hibachi BNB/USDT-P+0.0352%1h786.97+0.033%$67K$37K12xas long as short
dYdX BNB-USD+0.0377%1h786.57−0.017%$158K$38K10xas long as short