Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.004%

Price spread now: MEXC against Lighter+0.041%7-day average +0.189% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$80.085% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.214%+$21 · spread now +0.041%, 7d avg +0.189%

Together, before fees+0.217%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.148% cheaper against Lighter than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.189%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	795.98	0.0096	pay 0.0012% / 1h	25m 53s	$2.8M	$4.0M	20x
Short	MEXC BNB_USDT	796.30	0.0064	get 0.0064% / 8h	6h 25m	$82.6M	$12.8M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$6.72
Price spread: +0.041% → +0.189%: −$14.79
Slippage, 4 orders: −$4.45
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$29.96
Costs to cover: 0.085%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; MEXC: 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, 7 min ago	0.38 bp	0.7 bp −$1	5.0 bp −$50	13.7 bp −$1,374	66.2 bp −$33.1K
Sell MEXC live order book, 3 min ago	0.63 bp	3.8 bp −$4	5.8 bp −$58	16.0 bp −$1,603	31.5 bp −$15.7K

BNB on 45 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 −0.0167% / S +0.0335%	1h	795.70	−0.035%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0131%	1h	795.82	−0.020%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	795.77	−0.026%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	796.20	+0.028%	$860K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	795.69	−0.036%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	795.62	−0.045%	$4.1M	$4.8M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.145%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	796.07	+0.011%	$6.1M	$19.7M	200x	as long as short
Phemex BNBUSDT	+0.0040%	8h	796.38	+0.051%	$69.7M	$50.8M	50x	as long as short
Gate BNB_USDT	+0.0047%	8h	795.45	−0.066%	$35.4M	$56.3M	75x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDC	+0.0050%	8h	795.78	−0.025%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.604%	$607K	$1.1M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0059%	8h	795.02	−0.120%	$3.0M	$28.4M	10x	as long as short
Binance BNBUSDT	+0.0064%	8h	795.94	−0.005%	$495.2M	$810.9M	75x	as long as short
MEXC BNB_USDTshort	+0.0064%	8h	796.30	+0.041%	$82.6M	$12.8M	200x
dYdX BNB-USD	+0.0067%	1h	795.36	−0.077%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	795.15	−0.104%	$171K	$36K	10x	as long as short
Lighter BNBlong	+0.0096%	1h	795.98	long leg	$2.8M	$4.0M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	795.73	−0.031%	$385K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	795.05	−0.116%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	795.90	−0.009%	$52.1M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	795.63	−0.044%	$1.2M	$925K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	795.35	−0.079%	$139.1M	$75.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	795.20	−0.097%	$53.3M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	795.70	−0.035%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	795.46	−0.065%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	795.57	−0.051%	$77.5M	$28.2M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	795.11	−0.109%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	794.74	−0.155%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	795.60	−0.047%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	795.95	−0.003%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	795.89	−0.011%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	795.90	−0.010%	$391K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	794.94	−0.130%	$8.2M	$8.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	795.87	−0.013%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	795.33	−0.081%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	795.83	−0.018%	$382K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	795.91	−0.009%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0158%	8h	795.60	−0.047%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0195%	1h	795.93	−0.006%	$644K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	796.17	+0.024%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	795.41	−0.072%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0390%	1h	796.34	+0.046%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	796.31	+0.042%	$1.6M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	795.00	−0.122%	$68K	$38K	12x	as long as short