Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.008%

Price spread now: Lighter against Bybit+0.050%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$12as in the Funding arb table

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

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

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.050%, 7d avg +0.034%

Together, before fees+0.030%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BNBUSDT	786.10	0.0100	pay 0.0100% / 8h	1h 47m	$138.4M	$75.2M	75x
Short	Lighter BNB	786.49	0.0096	get 0.0012% / 1h	47m 04s	$2.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$0.84
Price spread: +0.050% → +0.034%: $1.55
Slippage, 4 orders: −$5.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.15
Costs to cover: 0.169%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 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 Bybit live order book, 2 min ago	0.64 bp	6.8 bp −$7	9.2 bp −$92	21.1 bp −$2,114	152.9 bp −$76.5K
Sell Lighter live order book, 5 min ago	1.41 bp	1.4 bp −$1	4.1 bp −$41	15.2 bp −$1,525	72.1 bp −$36.0K

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 −0.0170% / S +0.0337%	1h	786.28	+0.023%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.95	+0.108%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.44	+0.170%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.29	+0.025%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.416%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	786.85	+0.095%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.45	+0.045%	—	$13.4M	—	as long as short
dYdX BNB-USD	+0.0062%	1h	786.47	+0.047%	$159K	$62K	10x	as long as short
MEXC BNB_USDT	+0.0066%	8h	787.30	+0.153%	$81.0M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	786.70	+0.077%	$490.1M	$816.3M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	786.93	+0.106%	$68.9M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.56	+0.059%	$568K	$1.9M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	786.49	+0.050%	$2.7M	$3.8M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	786.40	+0.038%	$265K	$471K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	786.65	+0.070%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.84	+0.094%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDTlong	+0.0100%	8h	786.10	long leg	$138.4M	$75.2M	75x
OKX BNB-USDT-SWAP	+0.0100%	8h	786.00	−0.013%	$53.4M	$113.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.60	+0.064%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.35	+0.032%	$37.1M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.07	−0.004%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.16	+0.008%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	786.52	+0.053%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.23	+0.143%	$4.1M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.07	+0.123%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.39	+0.037%	$131K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.51	+0.052%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.14	+0.132%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.50	+0.051%	$387K	$985K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.78	+0.087%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.89	+0.101%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.03	−0.008%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.38	+0.036%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0123%	1h	786.81	+0.090%	$51.5M	$17.6M	10x	as long as short
Phoenix BNB	+0.0135%	1h	787.01	+0.116%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0139%	8h	786.60	+0.064%	$170K	$2.7M	4.8x	as long as short
Backpack BNB_USDC_PERP	+0.0146%	1h	786.67	+0.073%	$2.2M	$6.1M	40x	as long as short
BloFin BNB-USDT	+0.0187%	8h	786.90	+0.102%	$17.7M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.31	+0.026%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.27	+0.149%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	787.15	+0.134%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	786.78	+0.086%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.11	+0.001%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.140%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.88	+0.099%	$1.1M	$909K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	786.90	+0.102%	$67K	$39K	12x	as long as short