Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0003%/8h= −0.3% APRpaid last 24h −0.012%

Price spread now: Lighter against Aster+0.004%7-day average −0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$120.124% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days−0.103%−$10 · spread now +0.004%, 7d avg −0.083%

Together, before fees−0.086%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$9 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: Lighter is 0.088% dearer against Aster than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BNBUSDT	801.36	0.0099	pay 0.0099% / 8h	1h 17m	$6.3M	$19.0M	200x
Short	Lighter BNB	801.40	0.0096	get 0.0012% / 1h	17m 55s	$2.8M	$4.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$0.59
Price spread: +0.004% → −0.083%: $8.76
Slippage, 4 orders: −$4.4
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.24
Costs to cover: 0.124%
Break-even: never at this rate

Slippage from Aster: 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Aster live order book, 6 min ago	0.37 bp	4.7 bp −$5	5.3 bp −$53	17.3 bp −$1,727	doesn't fit
Sell Lighter live order book, 5 min ago	0.72 bp	1.5 bp −$1	5.3 bp −$53	11.9 bp −$1,191	65.9 bp −$33.0K

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 −0.0201% / S +0.0372%	1h	801.16	−0.026%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.60	+0.030%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.84	+0.184%	$3.0M	$29.6M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.90	+0.067%	$158K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	802.75	+0.173%	$868K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	801.17	−0.024%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0038%	8h	801.85	+0.061%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0062%	8h	801.17	−0.024%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0073%	8h	800.30	−0.133%	$139.3M	$81.1M	75x	as long as short
Lighter BNBshort	+0.0096%	1h	801.40	+0.004%	$2.8M	$4.2M	20x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	−0.024%	$610K	$997K	50x	as long as short
Aster BNBUSDTlong	+0.0099%	8h	801.36	long leg	$6.3M	$19.0M	200x
Nado BNB-PERP	+0.0100%	1h	800.84	−0.065%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.53	+0.021%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.50	−0.108%	$54.7M	$115.8M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.40	+0.005%	$53K	$151K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.60	−0.095%	$35.8M	$58.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.65	−0.089%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.79	−0.071%	$81.0M	$26.7M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.01	+0.206%	$4.2M	$77.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.69	+0.166%	$162K	$443K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	801.01	−0.044%	$121K	$877K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	801.11	−0.031%	$387K	$528K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.32	−0.005%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.89	+0.066%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	801.30	−0.008%	$394K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.37	+0.001%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.95	+0.073%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.38	−0.123%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.20	−0.021%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.80	+0.055%	$83.4M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	801.46	+0.012%	$503.4M	$819.9M	75x	as long as short
Phemex BNBUSDT	+0.0120%	8h	801.59	+0.028%	$70.0M	$51.8M	50x	as long as short
Phoenix BNB	+0.0155%	1h	802.83	+0.183%	$173K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0184%	1h	801.62	+0.032%	$71K	$48K	12x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	801.10	−0.032%	$2.6M	$975K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	802.00	+0.080%	$18.3M	$2.5M	75x	as long as short
dYdX BNB-USD	+0.0284%	1h	801.29	−0.009%	$162K	$62K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	801.61	+0.031%	$1.6M	$165K	25x	as long as short
Hyperliquid BNB	+0.0311%	1h	801.74	+0.047%	$51.9M	$21.9M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.465%	$19K	$789K	30x	as long as short
Bulk BNB-USD	+0.0314%	1h	802.70	+0.166%	$652K	$21K	10x	as long as short
RISEx BNB/USDC	+0.0318%	1h	801.23	−0.016%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	801.43	+0.008%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.70	−0.083%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0597%	1h	801.69	+0.041%	$2.7M	$5.7M	40x	as long as short