Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Gate+0.030%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.004%$0 on $10k

Price spread, last 7 days−0.034%−$3 · spread now +0.030%, 7d avg +0.018%

Together, before fees−0.039%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BNB_USDT	791.40	0.0100	pay 0.0100% / 8h	5h 09m	$35.4M	$57.3M	75x
Short	Lighter BNB	791.64	0.0096	get 0.0012% / 1h	9m 15s	$2.8M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$0.84
Price spread: +0.030% → +0.018%: $1.25
Slippage, 4 orders: −$5.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.9
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	0.32 bp	9.4 bp −$9	13.9 bp −$139	28.3 bp −$2,829	56.1 bp −$28.1K
Sell Lighter live order book, 3 min ago	0.50 bp	0.5 bp −$1	3.2 bp −$32	11.3 bp −$1,134	66.7 bp −$33.3K

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 −0.0167% / S +0.0335%	1h	791.40	+0.001%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.63	+0.029%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.95	+0.196%	$857K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	791.40	0.000%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.730%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.080%	$615K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0049%	8h	791.85	+0.057%	$69.4M	$50.5M	50x	as long as short
Aster BNBUSDT	+0.0050%	8h	791.79	+0.049%	$6.2M	$18.6M	200x	as long as short
BingX BNB-USDC	+0.0060%	8h	791.29	−0.014%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0072%	8h	792.20	+0.101%	$80.5M	$12.5M	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	+0.0072%	8h	791.92	+0.065%	$494.7M	$790.4M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.20	−0.026%	$2.5M	$1.2M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	791.64	+0.030%	$2.8M	$3.9M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	791.48	+0.010%	$266K	$498K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	790.95	−0.057%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.85	+0.056%	$52.0M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.40	0.000%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.24	−0.020%	$139.2M	$76.5M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.20	−0.025%	$53.7M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.40	0.000%	$52K	$130K	10x	as long as short
Gate BNB_USDTlong	+0.0100%	8h	791.40	long leg	$35.4M	$57.3M	75x
KuCoin BNBUSDTM	+0.0100%	8h	791.09	−0.039%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.12	−0.035%	$77.0M	$29.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.94	+0.068%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.10	−0.038%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.85	+0.057%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.88	+0.061%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.19	−0.027%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.62	+0.028%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.97	+0.072%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.60	+0.025%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.39	−0.001%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	791.86	+0.058%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.04	−0.045%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.43	+0.003%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.53	+0.016%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0143%	8h	792.25	+0.108%	$2.9M	$27.9M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	791.90	+0.063%	$82K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0192%	8h	791.99	+0.075%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0193%	1h	791.19	−0.026%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	791.92	+0.066%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.87	+0.060%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	790.98	−0.053%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.50	+0.013%	$1.1M	$980K	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.099%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	792.19	+0.099%	$68K	$38K	12x	as long as short