Settings8H · net · $10k
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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.004%
Price spread now: Lighter against Phemex−0.025%7-day average −0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs−$13as in the Price arb table
costs, in and out, $10k−$150.154% of the position
Long on PhemexShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.040%+$4 on $10k
Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.025%, 7d avg −0.046%
Together, before fees+0.156%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.021% dearer against Phemex than usual: you sell high and buy low (spread −0.025% now, against its 7-day average of −0.046%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.4 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex BNBUSDT805.040.0125pay 0.0125% / 8h2h 27m$70.2M$51.7M50x
ShortLighter BNB804.840.0096get 0.0012% / 1h27m 46s$2.8M$4.2M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against Phemex. 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

Funding earned
−$6.1
Price spread: −0.025% → −0.046%
$2.09
Slippage, 4 orders
−$3.41
Fee Phemex: 6 bp × 2 orders
−$12
Fee Lighter: 0 bp × 2 orders
$0
Net
−$19.41
Costs to cover
0.154%
Break-even
never at this rate
Slippage from Phemex: live order book, 6 min ago; Lighter: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 6 min ago0.44 bp6.9 bp −$76.9 bp −$6912.0 bp −$1,202doesn't fit
Sell Lighter live order book, 5 min ago0.75 bp0.9 bp −$13.2 bp −$3210.5 bp −$1,05267.6 bp −$33.8K

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h804.32−0.089%$49K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h804.71−0.041%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h804.60−0.054%$3.0M$29.3M10xas long as short
Kalshi KXBNBPERP0.0000%8h804.90−0.017%$112K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h804.09−0.118%$869K$2.9M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h804.42−0.077%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h804.53−0.063%$2.5M$909K50xas long as short
Variational Omni BNB+0.0049%8h803.71−0.165%$4.0M$5.4M—as long as short
BingX BNB-USDT+0.0053%8h804.66−0.047%—$34.5M—as long as short
Bybit BNBUSDT+0.0075%8h804.60−0.055%$139.5M$82.6M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h804.19−0.106%$609K$878K50xas long as short
Aster BNBUSDT+0.0091%8h805.30+0.032%$6.4M$18.8M200xas long as short
Lighter BNBshort+0.0096%1h804.84−0.025%$2.8M$4.2M20x
Nado BNB-PERP+0.0100%1h804.08−0.120%$1.4M$2.8M20xas long as short
Pacifica BNB+0.0100%1h804.97−0.008%$1.2M$923K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h804.70−0.042%$55.1M$115.7M50xas long as short
Arcus BNB-USD+0.0100%1h804.60−0.055%$53K$165K10xas long as short
Gate BNB_USDT+0.0100%8h804.45−0.073%$35.9M$58.5M75xas long as short
KuCoin BNBUSDTM+0.0100%8h804.54−0.062%$28.2M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h804.30−0.092%$79.2M$24.5M75xas long as short
edgeX BNBUSDC+0.0100%4h804.62−0.053%$4.2M$76.9M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h804.73−0.039%$159K$438K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h804.27−0.096%$118K$868K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h804.43−0.076%$389K$593K50xas long as short
Derive BNB-PERP+0.0100%1h804.57−0.059%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h805.00−0.006%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h804.90−0.017%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h804.24−0.099%$8.2M$7.4M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h805.68+0.079%$79K$19K50xas long as short
Extended BNB-USD+0.0104%1h804.29−0.093%$1.9M$6.1M50xas long as short
Aevo BNB-PERP+0.0104%1h804.43−0.076%$386K$40K10xas long as short
MEXC BNB_USDT+0.0107%8h805.70+0.082%$84.5M$13.6M200xas long as short
Binance BNBUSDT+0.0109%8h805.36+0.040%$519.6M$803.1M75xas long as short
Phemex BNBUSDTlong+0.0125%8h805.04long leg$70.2M$51.7M50x
Phoenix BNB+0.0125%1h803.93−0.138%$173K$35K10xas long as short
Hyperliquid BNB+0.0166%1h805.26+0.027%$51.7M$21.3M10xas long as short
SoDEX BNB-USD+0.0184%1h804.50−0.067%$396K$1.0M10xas long as short
Bulk BNB-USD+0.0197%1h804.34−0.087%$650K$11K10xas long as short
RISEx BNB/USDC+0.0209%1h804.71−0.041%$1.1M$1.4M20xas long as short
BloFin BNB-USDT+0.0227%8h804.67−0.046%$18.8M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0240%1h804.11−0.115%$71K$48K12xas long as short
dYdX BNB-USD+0.0273%1h804.28−0.094%$170K$55K10xas long as short
01 Exchange BNBUSD+0.0328%1h805.29+0.031%$28K$1K10xas long as short
Reya BNBRUSDPERP+0.0334%1h804.09−0.119%$6K$3K40xas long as short
Injective BNB/USDC PERP+0.0353%1h804.89−0.019%$19K$627K30xas long as short
Backpack BNB_USDC_PERP+0.0651%1h805.46+0.052%$3.0M$5.4M40xas long as short