Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: OKX against Lighter−0.032%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$130.135% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 7 days+0.019%+$2 · spread now −0.032%, 7d avg −0.026%

Together, before fees+0.035%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	799.56	0.0096	pay 0.0012% / 1h	1m 22s	$2.8M	$4.1M	20x
Short	OKX BNB-USDT-SWAP	799.30	0.0100	get 0.0100% / 8h	1m 22s	$54.4M	$112.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0.84
Price spread: −0.032% → −0.026%: −$0.64
Slippage, 4 orders: −$3.47
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$13.27
Costs to cover: 0.135%
Break-even: 117.6 days

Slippage from Lighter: live order book, 6 min ago; OKX: 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	0.62 bp	0.8 bp −$1	3.1 bp −$31	14.1 bp −$1,410	67.5 bp −$33.8K
Sell OKX live order book, 3 min ago	0.63 bp	6.0 bp −$6	7.5 bp −$75	17.3 bp −$1,732	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	799.37	−0.024%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.62	+0.008%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	799.42	−0.017%	$2.5M	$975K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.72	−0.105%	$3.0M	$27.7M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.71	+0.019%	$864K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	799.38	−0.022%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0009%	8h	798.84	−0.090%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0030%	8h	799.39	−0.021%	—	$35.2M	—	as long as short
Bybit BNBUSDT	+0.0040%	8h	799.29	−0.033%	$138.8M	$77.0M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.68	−0.110%	$602K	$985K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0077%	8h	799.80	+0.031%	$6.2M	$19.3M	200x	as long as short
Phemex BNBUSDT	+0.0092%	8h	800.10	+0.068%	$70.0M	$50.7M	50x	as long as short
Lighter BNBlong	+0.0096%	1h	799.56	long leg	$2.8M	$4.1M	20x
Binance BNBUSDT	+0.0097%	8h	799.88	+0.041%	$497.9M	$818.6M	75x	as long as short
MEXC BNB_USDT	+0.0098%	8h	800.10	+0.068%	$83.2M	$13.6M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	798.95	−0.076%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	799.51	−0.006%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAPshort	+0.0100%	8h	799.30	−0.032%	$54.4M	$112.9M	50x
Arcus BNB-USD	+0.0100%	1h	799.40	−0.020%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	799.00	−0.070%	$35.7M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	799.23	−0.041%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	799.36	−0.025%	$78.9M	$27.6M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.62	+0.008%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.34	−0.027%	$161K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	799.20	−0.045%	$116K	$872K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	799.46	−0.012%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	799.65	+0.012%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.77	+0.027%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	799.70	+0.018%	$393K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	799.44	−0.015%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.92	+0.046%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	799.20	−0.044%	$1.8M	$6.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	799.64	+0.010%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	798.37	−0.149%	$172K	$36K	10x	as long as short
Hibachi BNB/USDT-P	+0.0152%	1h	799.11	−0.056%	$70K	$43K	12x	as long as short
Kalshi KXBNBPERP	+0.0153%	8h	799.50	−0.007%	$90K	$2.9M	4.8x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	−0.092%	$649K	$17K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	800.02	+0.058%	$1.6M	$165K	25x	as long as short
BloFin BNB-USDT	+0.0217%	8h	800.12	+0.070%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0249%	1h	800.13	+0.072%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	799.34	−0.028%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	799.73	+0.022%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.692%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0321%	1h	799.74	+0.023%	$2.7M	$5.7M	40x	as long as short
dYdX BNB-USD	+0.0329%	1h	798.88	−0.085%	$161K	$63K	10x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.91	−0.081%	$6K	$3K	40x	as long as short