Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bitget+0.061%7-day average +0.050% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 7 days−0.008%−$1 · spread now +0.061%, 7d avg +0.050%

Together, before fees−0.024%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BNBUSDT	783.67	0.0100	pay 0.0100% / 8h	22m 17s	$75.2M	$32.6M	75x
Short	Lighter BNB	784.15	0.0096	get 0.0012% / 1h	22m 17s	$2.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$0.84
Price spread: +0.061% → +0.050%: $1.13
Slippage, 4 orders: −$4.55
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.26
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Lighter: live order book, 10 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 Bitget live order book, 2 min ago	0.06 bp	7.6 bp −$8	10.9 bp −$109	22.5 bp −$2,248	doesn't fit
Sell Lighter live order book, 10 min ago	1.06 bp	1.4 bp −$1	3.6 bp −$36	12.4 bp −$1,242	68.2 bp −$34.1K

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 −0.0168% / S +0.0337%	1h	784.08	+0.052%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.15	+0.061%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.01	+0.043%	$2.5M	$1.2M	50x	as long as short
Variational Omni BNB	0.0000%	8h	783.51	−0.021%	$4.0M	$4.7M	—	as long as short
StandX BNB-USD	0.0000%	1h	784.22	+0.070%	$846K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.04	+0.047%	$9.4M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.733%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	784.59	+0.117%	$6.0M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0040%	8h	783.90	+0.029%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0048%	8h	785.10	+0.182%	$80.7M	$12.0M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0049%	8h	784.63	+0.122%	$487.3M	$819.4M	75x	as long as short
Phemex BNBUSDT	+0.0076%	8h	784.12	+0.057%	$68.5M	$51.3M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	784.15	+0.061%	$2.7M	$3.8M	20x
dYdX BNB-USD	+0.0099%	1h	783.56	−0.014%	$159K	$62K	10x	as long as short
Phoenix BNB	+0.0100%	1h	784.15	+0.061%	$162K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	783.80	+0.017%	$1.3M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	784.63	+0.123%	$51.4M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.27	+0.077%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	783.80	+0.017%	$137.9M	$74.4M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	783.90	+0.029%	$53.3M	$112.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.10	+0.055%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.10	+0.055%	$38.2M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.72	+0.006%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDTlong	+0.0100%	8h	783.67	long leg	$75.2M	$32.6M	75x
Backpack BNB_USDC_PERP	+0.0100%	1h	784.13	+0.059%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.39	+0.091%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.99	+0.168%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	783.84	+0.022%	$131K	$944K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	784.08	+0.052%	$264K	$388K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	783.41	−0.033%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.59	+0.117%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.20	+0.068%	$386K	$968K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	783.80	+0.017%	$8.0M	$10.4M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.60	+0.118%	$78K	$17K	50x	as long as short
Kalshi KXBNBPERP	+0.0101%	8h	784.00	+0.042%	$171K	$2.7M	4.8x	as long as short
Extended BNB-USD	+0.0104%	1h	783.69	+0.003%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	784.11	+0.056%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	784.48	+0.103%	$546K	$1.9M	50x	as long as short
BloFin BNB-USDT	+0.0169%	8h	784.21	+0.069%	$17.7M	$2.2M	75x	as long as short
Bulk BNB-USD	+0.0208%	1h	785.53	+0.237%	$637K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0217%	8h	784.62	+0.121%	$2.9M	$28.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	784.50	+0.106%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	784.51	+0.107%	$1.5M	$141K	25x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	783.65	−0.002%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	784.28	+0.078%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	783.66	−0.001%	$67K	$39K	12x	as long as short