BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.005%

Price spread now: Lighter against Coinbase International−0.076%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$190.193% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)+0.215%+$22 · spread now −0.076%, 7d avg +0.037%

Together, before fees+0.266%+ Points / potential airdropLighter: Season 3 · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.113% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of +0.037%). If the spread goes back, that is −$11 on $10k: about 12 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BNB-PERP-INTX	789.45	0.0064	pay 0.0008% / 1h	16m 20s	$582K	$1.9M	50x
Short	Lighter BNB	788.85	0.0096	get 0.0012% / 1h	16m 20s	$2.7M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −0.076%Rate

Funding earned: $6.72
Price spread: −0.076% → +0.037%: −$11.28
Slippage, 4 orders: −$9.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.88
Costs to cover: 0.193%
Break-even: 31.9 days

Slippage from Coinbase International: live order book, 2 min ago; Lighter: live order book, 6 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 Coinbase International live order book, 2 min ago	2.98 bp	9.0 bp −$9	14.1 bp −$141	doesn't fit	doesn't fit
Sell Lighter live order book, 6 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 −0.0188% / S +0.0352%	1h	788.63	−0.104%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.26	−0.024%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.11	−0.043%	$851K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.61	−0.106%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.981%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	789.26	−0.024%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0050%	8h	788.79	−0.084%	—	$34.4M	—	as long as short
Phemex BNBUSDT	+0.0060%	8h	789.31	−0.018%	$69.0M	$50.0M	50x	as long as short
MEXC BNB_USDT	+0.0060%	8h	789.60	+0.019%	$80.1M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0061%	8h	789.08	−0.046%	$492.4M	$789.8M	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-INTXlong	+0.0064%	1h	789.45	long leg	$582K	$1.9M	50x
Lighter BNBshort	+0.0096%	1h	788.85	−0.076%	$2.7M	$3.9M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	788.72	−0.092%	$265K	$492K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.90	−0.070%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.40	−0.006%	$51.8M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.12	−0.042%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.50	−0.120%	$138.7M	$74.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.50	−0.120%	$53.4M	$111.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.10	−0.044%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.65	−0.101%	$35.5M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.82	−0.080%	$28.1M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.45	−0.127%	$76.3M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.82	+0.047%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	788.80	−0.082%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.65	+0.025%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.43	−0.003%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.72	−0.092%	$133K	$950K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.79	−0.084%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.19	−0.033%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.90	−0.070%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.94	−0.065%	$8.1M	$9.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.28	−0.021%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.29	−0.147%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.69	−0.096%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0117%	1h	789.49	+0.005%	$170K	$35K	10x	as long as short
dYdX BNB-USD	+0.0122%	1h	789.35	−0.013%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0150%	8h	790.01	+0.071%	$2.9M	$28.6M	10x	as long as short
Kalshi KXBNBPERP	+0.0175%	8h	789.90	+0.057%	$125K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0181%	8h	789.84	+0.049%	$18.2M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	789.09	−0.046%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0222%	1h	790.13	+0.086%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	789.37	−0.010%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.59	−0.109%	$2.5M	$1.2M	50x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.60	−0.107%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0392%	1h	789.26	−0.024%	$67K	$38K	12x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.26	−0.024%	$1.1M	$967K	20x	as long as short