Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.012%

Price spread now: Lighter against BingX−0.005%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$160.161% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 7 days−0.044%−$4 · spread now −0.005%, 7d avg +0.013%

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

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDC	789.29	0.0051	pay 0.0051% / 8h	4h 19m	—	$13.4M	—
Short	Lighter BNB	789.25	0.0096	get 0.0012% / 1h	19m 23s	$2.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now −0.005%Rate

Funding earned: $9.41
Price spread: −0.005% → +0.013%: −$1.85
Slippage, 4 orders: −$6.12
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$8.56
Costs to cover: 0.161%
Break-even: 13.4 days

Slippage from BingX: live order book, 4 min ago; Lighter: live order book, 3 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 BingX live order book, 4 min ago	0.25 bp	7.1 bp −$7	11.3 bp −$113	24.5 bp −$2,446	70.8 bp −$35.4K
Sell Lighter live order book, 3 min ago	0.38 bp	0.4 bp $0	4.0 bp −$40	12.0 bp −$1,198	66.5 bp −$33.2K

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 −0.0187% / S +0.0352%	1h	789.21	−0.010%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.60	+0.039%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.38	+0.011%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.23	−0.008%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.002%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0038%	8h	789.77	+0.060%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDClong	+0.0051%	8h	789.29	long leg	—	$13.4M	—
Phemex BNBUSDT	+0.0058%	8h	789.76	+0.060%	$69.1M	$50.0M	50x	as long as short
MEXC BNB_USDT	+0.0062%	8h	790.10	+0.103%	$80.2M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0063%	8h	789.69	+0.051%	$492.8M	$789.7M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0064%	1h	789.45	+0.020%	$582K	$1.9M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	789.25	−0.005%	$2.7M	$3.8M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	789.20	−0.011%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.10	−0.024%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.82	+0.067%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.40	+0.014%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.10	−0.024%	$138.8M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.10	−0.024%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.40	+0.014%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.20	−0.011%	$35.5M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.19	−0.013%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.84	−0.057%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.55	+0.033%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.80	−0.062%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.71	+0.053%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.71	+0.053%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.05	−0.030%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.31	+0.003%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.82	+0.067%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.40	+0.014%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.11	−0.023%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.78	+0.062%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.84	−0.057%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.33	+0.005%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.49	+0.025%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.35	+0.008%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0148%	8h	789.97	+0.086%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0176%	8h	790.00	+0.090%	$125K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0183%	8h	789.68	+0.049%	$18.1M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	789.61	+0.040%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0222%	1h	790.13	+0.106%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.76	+0.060%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0263%	1h	789.01	−0.035%	$2.5M	$1.2M	50x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.89	−0.050%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0400%	1h	789.48	+0.024%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.50	+0.026%	$1.1M	$967K	20x	as long as short