BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0117%/8h= +12.8% APRnext payment +$0.15 per $10,000 · paid last 24h −0.001%

Price spread now: Lighter against Kraken Futures+0.029%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Kraken Futures Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)+0.363%+$36 · spread now +0.029%, 7d avg +0.032%

Together, before fees+0.399%+ Points / potential airdropLighter: Season 3 · farm board+$40 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BNBUSD	787.86	−0.0021	get 0.0003% / 1h	16m 59s	$2.5M	$1.2M	50x
Short	Lighter BNB	788.09	0.0096	get 0.0012% / 1h	16m 59s	$2.7M	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Kraken Futures. 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 Kraken FuturesbpFee LighterbpOrdersPrice spread, now +0.029%Rate

Funding earned: $24.48
Price spread: +0.029% → +0.032%: −$0.26
Slippage, 4 orders: −$14.05
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.17
Costs to cover: 0.240%
Break-even: 7.0 days

Slippage from Kraken Futures: 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 Kraken Futures live order book, 2 min ago	4.32 bp	9.9 bp −$10	12.7 bp −$127	26.9 bp −$2,693	84.4 bp −$42.2K
Sell Lighter live order book, 10 min ago	1.50 bp	1.5 bp −$2	4.4 bp −$44	14.2 bp −$1,416	71.6 bp −$35.8K

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 −0.0166% / S +0.0336%	1h	787.99	+0.017%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.02	+0.020%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSDlong	−0.0021%	1h	787.86	long leg	$2.5M	$1.2M	50x
GRVT BNB_USDT_Perp	0.0000%	8h	787.88	+0.002%	$3.0M	$27.0M	10x	as long as short
StandX BNB-USD	0.0000%	1h	788.36	+0.063%	$850K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.06	+0.025%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0016%	8h	788.61	+0.095%	$6.0M	$17.8M	200x	as long as short
BingX BNB-USDT	+0.0028%	8h	788.31	+0.057%	—	$22.1M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.187%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0034%	8h	789.60	+0.221%	$82.9M	$12.3M	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	+0.0034%	8h	788.62	+0.097%	$489.6M	$795.2M	75x	as long as short
Lighter BNBshort	+0.0096%	1h	788.09	+0.029%	$2.7M	$3.7M	20x
Nado BNB-PERP	+0.0100%	1h	787.60	−0.033%	$1.4M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.71	+0.108%	$51.8M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.96	+0.012%	$1.2M	$936K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.90	+0.005%	$138.7M	$71.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.90	+0.005%	$53.6M	$108.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.90	+0.005%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.10	+0.030%	$39.8M	$56.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.74	−0.015%	$27.8M	$9.8M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.61	−0.032%	$75.5M	$32.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.55	+0.087%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.84	−0.003%	$4.3M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.84	−0.003%	$4.1M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.71	−0.019%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.39	−0.060%	$132K	$917K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.94	+0.010%	$265K	$357K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.27	−0.456%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.17	+0.039%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.10	+0.030%	$387K	$939K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.82	−0.005%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.23	+0.047%	$78K	$47K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.60	−0.033%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.81	−0.006%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0108%	8h	788.10	+0.030%	$159K	$2.5M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	787.14	−0.092%	$548K	$1.9M	50x	as long as short
Phemex BNBUSDT	+0.0120%	8h	788.50	+0.081%	$68.6M	$51.3M	50x	as long as short
Phoenix BNB	+0.0120%	1h	787.62	−0.031%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0136%	8h	788.53	+0.085%	$17.8M	$2.3M	75x	as long as short
Bulk BNB-USD	+0.0154%	1h	788.26	+0.050%	$639K	$0	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.26	+0.051%	$1.5M	$141K	25x	as long as short
dYdX BNB-USD	+0.0208%	1h	787.48	−0.048%	$158K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	788.15	+0.037%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	787.32	−0.069%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	788.02	+0.020%	$1.1M	$885K	20x	as long as short
Hibachi BNB/USDT-P	+0.0408%	1h	787.71	−0.019%	$67K	$39K	12x	as long as short