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: Orderly against Lighter−0.007%7-day average +0.007% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

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)−0.048%−$5 · spread now −0.007%, 7d avg +0.007%

Together, before fees+0.013%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	787.37	0.0096	pay 0.0012% / 1h	11m 04s	$2.7M	$3.9M	20x
Short	Orderly PERP_BNB_USDC	787.32	0.0100	get 0.0100% / 8h	3h 11m	$265K	$492K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.007%Rate

Funding earned: $0.83
Price spread: −0.007% → +0.007%: −$1.43
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$6.6
Costs to cover: 0.060%
Break-even: 62.7 days

Slippage unknown: Lighter: live order book, 6 min ago; Orderly: no order-book sample. Net counts fees only.

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	1.47 bp	1.8 bp −$2	4.9 bp −$49	15.5 bp −$1,545	67.9 bp −$34.0K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0192% / S +0.0356%	1h	787.22	−0.020%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0124%	1h	787.21	−0.021%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.79	+0.053%	$4K	$42	25x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	788.20	+0.105%	$124K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.16	+0.100%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.19	−0.023%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0022%	8h	787.66	+0.036%	$6.1M	$18.8M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.250%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0034%	8h	787.49	+0.015%	—	$13.4M	—	as long as short
Phemex BNBUSDT	+0.0038%	8h	787.74	+0.047%	$68.9M	$50.8M	50x	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	+0.0041%	8h	787.90	+0.067%	$79.9M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0041%	8h	787.67	+0.038%	$490.9M	$802.7M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	788.00	+0.080%	$579K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0079%	1h	787.24	−0.017%	$159K	$63K	10x	as long as short
Phoenix BNB	+0.0092%	1h	787.74	+0.047%	$169K	$35K	10x	as long as short
Lighter BNBlong	+0.0096%	1h	787.37	long leg	$2.7M	$3.9M	20x
Orderly PERP_BNB_USDCshort	+0.0100%	8h	787.32	−0.007%	$265K	$492K	50x
Nado BNB-PERP	+0.0100%	1h	787.35	−0.003%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.68	+0.039%	$51.7M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.79	+0.053%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.83	−0.069%	$138.4M	$74.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.80	−0.073%	$53.4M	$111.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	+0.029%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.05	−0.041%	$36.1M	$58.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.93	−0.056%	$27.5M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.75	−0.079%	$76.1M	$30.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.49	+0.015%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.00	−0.047%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.75	+0.048%	$4.1M	$74.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.52	+0.019%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.14	−0.030%	$132K	$955K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.37	−0.001%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.92	+0.069%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.40	+0.003%	$387K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.36	−0.002%	$8.1M	$9.7M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.79	+0.052%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.58	−0.101%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.33	−0.006%	$378K	$110K	10x	as long as short
BloFin BNB-USDT	+0.0161%	8h	787.93	+0.071%	$17.8M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0178%	8h	787.99	+0.079%	$2.9M	$28.7M	10x	as long as short
Bulk BNB-USD	+0.0201%	1h	787.88	+0.064%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.93	+0.071%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.70	+0.042%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.00	−0.047%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0424%	1h	787.38	0.000%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	787.77	+0.051%	$1.1M	$894K	20x	as long as short