Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h −0.004%

Price spread now: Lighter against MEXC−0.144%7-day average −0.183% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 7 days−0.060%−$6 · spread now −0.144%, 7d avg −0.183%

Together, before fees−0.059%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.039% dearer against MEXC than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.183%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	787.70	0.0045	pay 0.0045% / 8h	7h 56m	$81.3M	$12.0M	200x
Short	Lighter BNB	786.56	0.0096	get 0.0012% / 1h	56m 39s	$2.7M	$3.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.144%Rate

Funding earned: $10.71
Price spread: −0.144% → −0.183%: $3.86
Slippage, 4 orders: −$9.57
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.99
Costs to cover: 0.136%
Break-even: 6.4 days

Slippage from MEXC: live order book, 2 min ago; Lighter: live order book, 6 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 MEXC live order book, 2 min ago	0.63 bp	6.2 bp −$6	9.6 bp −$96	19.0 bp −$1,899	36.8 bp −$18.4K
Sell Lighter live order book, 6 min ago	1.13 bp	1.2 bp −$1	3.9 bp −$39	11.4 bp −$1,139	69.5 bp −$34.7K

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 −0.0168% / S +0.0337%	1h	786.14	−0.198%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.77	−0.245%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	786.23	−0.187%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	786.69	−0.128%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.19	−0.192%	$9.5M	—	150x	as long as short
dYdX BNB-USD	+0.0008%	1h	786.34	−0.172%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0024%	8h	786.84	−0.109%	$68.6M	$51.1M	50x	as long as short
Aster BNBUSDT	+0.0030%	8h	787.01	−0.088%	$6.0M	$18.6M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.208%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0038%	8h	786.17	−0.194%	—	$13.4M	—	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDTlong	+0.0045%	8h	787.70	long leg	$81.3M	$12.0M	200x
Binance BNBUSDT	+0.0046%	8h	786.90	−0.102%	$489.4M	$813.0M	75x	as long as short
Lighter BNBshort	+0.0096%	1h	786.56	−0.144%	$2.7M	$3.6M	20x
Phoenix BNB	+0.0100%	1h	785.66	−0.259%	$158K	$38K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.30	−0.178%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	786.94	−0.096%	$51.6M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.65	−0.133%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.23	−0.187%	$138.5M	$73.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.20	−0.190%	$53.5M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	−0.152%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.45	−0.159%	$38.7M	$55.1M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.11	−0.202%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.95	−0.222%	$75.4M	$32.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.68	−0.129%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.64	−0.388%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.31	−0.304%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.42	−0.289%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.21	−0.189%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.37	−0.169%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.49	−0.153%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.81	−0.113%	$13K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.40	−0.165%	$387K	$954K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.12	−0.201%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.85	−0.108%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.00	−0.216%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.31	−0.176%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0106%	8h	786.90	−0.102%	$171K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	785.84	−0.236%	$547K	$1.9M	50x	as long as short
BloFin BNB-USDT	+0.0166%	8h	786.83	−0.110%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0185%	8h	785.57	−0.271%	$2.9M	$27.5M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.75	−0.120%	$1.5M	$141K	25x	as long as short
Bulk BNB-USD	+0.0208%	1h	785.85	−0.235%	$637K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	787.01	−0.088%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	785.82	−0.239%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	786.70	−0.127%	$1.1M	$911K	20x	as long as short
Hibachi BNB/USDT-P	+0.0432%	1h	785.19	−0.318%	$67K	$39K	12x	as long as short