Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Lighter+0.008%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 3 days (all we have)−0.001%$0 · spread now +0.008%, 7d avg +0.053%

Together, before fees+0.063%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.045% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	795.82	0.0096	pay 0.0012% / 1h	25m 13s	$2.8M	$4.0M	20x
Short	SunX BNB-USDT	795.89	0.0100	get 0.0100% / 8h	6h 25m	$12K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0.84
Price spread: +0.008% → +0.053%: −$4.5
Slippage, 4 orders: −$41.06
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$52.72
Costs to cover: 0.491%
Break-even: 446.3 days

Slippage from Lighter: live order book, 2 min ago; SunX: live order book, 10 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, 2 min ago	0.00 bp	0.1 bp $0	4.3 bp −$43	15.9 bp −$1,594	68.6 bp −$34.3K
Sell SunX live order book, 10 min ago	15.06 bp	23.5 bp −$23	30.6 bp −$306	doesn't fit	doesn't fit

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	795.54	−0.036%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0131%	1h	795.58	−0.030%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	795.89	+0.008%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	796.40	+0.073%	$861K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	795.60	−0.028%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	795.62	−0.026%	$4.1M	$4.8M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.164%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	796.11	+0.036%	$6.1M	$19.7M	200x	as long as short
Gate BNB_USDT	+0.0048%	8h	795.50	−0.041%	$35.4M	$56.3M	75x	as long as short
BingX BNB-USDT	+0.0050%	8h	795.65	−0.022%	—	$34.9M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0051%	8h	796.11	+0.036%	$69.7M	$50.8M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	−0.037%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	796.30	+0.060%	$82.7M	$12.8M	200x	as long as short
Binance BNBUSDT	+0.0064%	8h	796.17	+0.044%	$495.4M	$810.5M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0064%	8h	795.99	+0.021%	$3.0M	$28.5M	10x	as long as short
dYdX BNB-USD	+0.0070%	1h	795.36	−0.058%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	795.80	−0.003%	$171K	$36K	10x	as long as short
Lighter BNBlong	+0.0096%	1h	795.82	long leg	$2.8M	$4.0M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	795.52	−0.038%	$384K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	795.30	−0.066%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	796.11	+0.036%	$52.2M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	795.55	−0.034%	$1.2M	$925K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	795.62	−0.025%	$139.1M	$75.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	795.40	−0.053%	$53.3M	$110.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	795.70	−0.015%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	795.24	−0.073%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	795.67	−0.019%	$77.5M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	795.83	+0.001%	$4.1M	$76.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	794.74	−0.136%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	795.48	−0.043%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	795.70	−0.015%	$32K	$9K	10x	as long as short
SunX BNB-USDTshort	+0.0100%	8h	795.89	+0.008%	$12K	$1.6M	50x
SoDEX BNB-USD	+0.0100%	1h	795.70	−0.015%	$391K	$997K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	795.33	−0.063%	$8.2M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	796.07	+0.031%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	795.34	−0.061%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	795.65	−0.022%	$382K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	795.75	−0.009%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0157%	8h	795.70	−0.015%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0195%	1h	795.93	+0.013%	$644K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	796.05	+0.029%	$28K	$2K	10x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	795.36	−0.059%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0390%	1h	796.34	+0.065%	$2.7M	$5.7M	40x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	796.09	+0.034%	$1.6M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	795.94	+0.014%	$68K	$38K	12x	as long as short