BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%

Price spread now: Lighter against Polymarket Perps+0.034%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$170.169% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 3 days (all we have)−0.146%−$15 · spread now +0.034%, 7d avg +0.021%

Together, before fees−0.192%+ Points / potential airdropLighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BNB-USD	803.93	0.0100	pay 0.0013% / 1h	33m 53s	$118K	$868K	10x
Short	Lighter BNB	804.20	0.0096	get 0.0012% / 1h	33m 53s	$2.8M	$4.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$0.84
Price spread: +0.034% → +0.021%: $1.32
Slippage, 4 orders: −$8.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.45
Costs to cover: 0.169%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 54 min ago; Lighter: live order book, 4 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 Polymarket Perps live order book, 54 min ago	2.74 bp	6.7 bp −$7	7.3 bp −$73	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.59 bp	0.6 bp −$1	3.1 bp −$31	11.7 bp −$1,166	66.2 bp −$33.1K

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 −0.0195% / S +0.0371%	1h	803.89	−0.005%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.57	+0.080%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	804.19	+0.032%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	804.50	+0.071%	$112K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	−0.001%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.01	+0.010%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	803.97	+0.005%	$2.5M	$908K	50x	as long as short
Variational Omni BNB	+0.0051%	8h	802.62	−0.163%	$4.0M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0057%	8h	803.81	−0.015%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0077%	8h	803.60	−0.041%	$139.4M	$82.8M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0087%	8h	804.56	+0.078%	$6.4M	$18.8M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0088%	1h	804.19	+0.032%	$609K	$878K	50x	as long as short
Lighter BNBshort	+0.0096%	1h	804.20	+0.034%	$2.8M	$4.2M	20x
Nado BNB-PERP	+0.0100%	1h	804.14	+0.026%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	804.47	+0.067%	$1.2M	$923K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	803.90	−0.004%	$55.1M	$115.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.30	+0.046%	$52K	$162K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	803.80	−0.016%	$35.9M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	803.70	−0.029%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.57	−0.045%	$79.1M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.02	−0.113%	$4.2M	$76.8M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.17	+0.030%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USDlong	+0.0100%	1h	803.93	long leg	$118K	$868K	10x
Orderly PERP_BNB_USDC	+0.0100%	8h	803.99	+0.007%	$388K	$593K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.10	+0.021%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	804.58	+0.081%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	804.44	+0.063%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	803.72	−0.026%	$8.2M	$7.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.00	+0.133%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.61	−0.039%	$1.9M	$6.1M	50x	as long as short
MEXC BNB_USDT	+0.0104%	8h	804.90	+0.121%	$84.4M	$13.6M	200x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.17	+0.030%	$386K	$40K	10x	as long as short
Binance BNBUSDT	+0.0105%	8h	804.57	+0.080%	$518.9M	$803.1M	75x	as long as short
Phemex BNBUSDT	+0.0123%	8h	804.60	+0.083%	$70.2M	$51.7M	50x	as long as short
Phoenix BNB	+0.0125%	1h	803.30	−0.078%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0148%	1h	804.00	+0.009%	$395K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0154%	1h	804.61	+0.085%	$51.7M	$21.3M	10x	as long as short
Bulk BNB-USD	+0.0194%	1h	803.61	−0.040%	$649K	$11K	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.54	+0.076%	$1.1M	$1.4M	20x	as long as short
BloFin BNB-USDT	+0.0225%	8h	804.34	+0.051%	$18.8M	$3.1M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	803.30	−0.078%	$71K	$48K	12x	as long as short
dYdX BNB-USD	+0.0269%	1h	804.28	+0.044%	$170K	$55K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	805.08	+0.143%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.72	−0.026%	$6K	$3K	40x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.92	+0.123%	$19K	$526K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0668%	1h	804.90	+0.121%	$3.0M	$5.4M	40x	as long as short