Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0232%/8hnext payment −$0.29 per $10,000 · paid last 24h −0.088%

Price spread now: Lighter against Hibachi−0.052%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.505%−$50 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · Lighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.052% cheaper against Hibachi than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi BNB/USDT-P	801.78	0.0328	pay 0.0041% / 1h	22m 57s	$71K	$48K	12x
Short	Lighter BNB	801.36	0.0096	get 0.0012% / 1h	22m 57s	$2.9M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hibachi. 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 HibachibpFee LighterbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$48.72
Price spread: −0.052% → 0.000%: −$5.18
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$62.9
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Lighter: live order book, 9 min ago. Net counts fees only.

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 Hibachi no order-book sample	—	—	—	—	—
Sell Lighter live order book, 9 min ago	0.49 bp	0.5 bp $0	3.6 bp −$36	14.6 bp −$1,462	73.6 bp −$36.8K

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0195% / S +0.0371%	1h	800.79	−0.124%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.29	−0.061%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	801.15	−0.078%	$3.0M	$30.1M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.50	−0.035%	$107K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	801.93	+0.019%	$867K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0008%	1h	800.92	−0.107%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	800.43	−0.168%	$19K	$407K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	800.37	−0.176%	$601K	$904K	50x	as long as short
Variational Omni BNB	+0.0072%	8h	799.45	−0.291%	$4.1M	$5.5M	—	as long as short
BingX BNB-USDC	+0.0080%	8h	800.97	−0.101%	—	$13.2M	—	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNBshort	+0.0096%	1h	801.36	−0.052%	$2.9M	$3.9M	20x
Aster BNBUSDT	+0.0098%	8h	801.34	−0.055%	$6.4M	$18.9M	200x	as long as short
Nado BNB-PERP	+0.0100%	1h	800.70	−0.135%	$1.4M	$2.8M	20x	as long as short
Pacifica BNB	+0.0100%	1h	801.02	−0.095%	$1.2M	$916K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	800.40	−0.172%	$138.5M	$87.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.50	−0.160%	$55.1M	$116.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	800.90	−0.110%	$53K	$221K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.65	−0.141%	$35.9M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.61	−0.146%	$28.0M	$10.4M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.45	−0.166%	$78.5M	$24.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.17	−0.076%	$4.2M	$75.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.23	−0.069%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.57	−0.151%	$118K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.87	−0.113%	$387K	$627K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.12	−0.083%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.12	−0.082%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	800.80	−0.122%	$394K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	801.40	−0.047%	$1.6M	$159K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	800.87	−0.113%	$8.2M	$6.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.51	−0.034%	$78K	$19K	50x	as long as short
MEXC BNB_USDT	+0.0102%	8h	801.90	+0.015%	$84.0M	$15.1M	200x	as long as short
Binance BNBUSDT	+0.0102%	8h	801.29	−0.061%	$516.8M	$801.9M	75x	as long as short
Extended BNB-USD	+0.0104%	1h	800.45	−0.166%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.18	−0.074%	$385K	$40K	10x	as long as short
Phemex BNBUSDT	+0.0104%	8h	801.31	−0.059%	$70.1M	$51.7M	50x	as long as short
Bulk BNB-USD	+0.0120%	1h	799.94	−0.229%	$651K	$15K	10x	as long as short
Phoenix BNB	+0.0151%	1h	801.63	−0.019%	$172K	$28K	10x	as long as short
RISEx BNB/USDC	+0.0165%	1h	801.00	−0.097%	$1.1M	$1.4M	20x	as long as short
Kraken Futures PF_BNBUSD	+0.0185%	1h	800.95	−0.103%	$2.5M	$924K	50x	as long as short
BloFin BNB-USDT	+0.0222%	8h	801.21	−0.071%	$19.0M	$3.0M	75x	as long as short
Hyperliquid BNB	+0.0248%	1h	801.43	−0.044%	$51.4M	$21.4M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	801.38	−0.050%	$28K	$1K	10x	as long as short
Hibachi BNB/USDT-Plong	+0.0328%	1h	801.78	long leg	$71K	$48K	12x
Reya BNBRUSDPERP	+0.0334%	1h	800.38	−0.175%	$9K	—	40x	as long as short
dYdX BNB-USD	+0.0370%	1h	800.88	−0.112%	$173K	$51K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0693%	1h	801.82	+0.005%	$3.0M	$5.3M	40x	as long as short