Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h +0.004%

Price spread now: Binance against Lighter+0.070%7-day average +0.081% · 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−$13as in the Price arb table

costs, in and out, $10k−$120.120% of the position

Long on Lighter Short on Binance

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+0.024%+$2 · spread now +0.070%, 7d avg +0.081%

Together, before fees+0.028%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.081%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	788.67	0.0096	pay 0.0012% / 1h	54m 53s	$2.8M	$3.9M	20x
Short	Binance BNBUSDT	789.22	0.0069	get 0.0069% / 8h	5h 54m	$494.1M	$808.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.070%Rate

Funding earned: −$5.64
Price spread: +0.070% → +0.081%: −$1.09
Slippage, 4 orders: −$1.98
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$18.7
Costs to cover: 0.120%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Binance: live order book, 4 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 Lighter live order book, 8 min ago	0.59 bp	0.6 bp −$1	4.3 bp −$43	13.4 bp −$1,338	65.8 bp −$32.9K
Sell Binance live order book, 4 min ago	0.06 bp	5.1 bp −$5	7.4 bp −$74	16.8 bp −$1,677	40.0 bp −$20.0K

BNB on 45 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	788.05	−0.078%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.91	+0.031%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.38	+0.217%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	788.03	−0.081%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.082%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	788.94	+0.035%	$6.2M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.66	+0.126%	$619K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0054%	8h	788.71	+0.005%	—	$34.5M	—	as long as short
Phemex BNBUSDT	+0.0060%	8h	788.69	+0.003%	$69.0M	$50.8M	50x	as long as short
Variational Omni BNB	+0.0066%	8h	789.32	+0.083%	$4.1M	$4.8M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0069%	8h	789.40	+0.093%	$80.4M	$12.4M	200x	as long as short
Binance BNBUSDTshort	+0.0069%	8h	789.22	+0.070%	$494.1M	$808.6M	75x
Gate BNB_USDT	+0.0081%	8h	788.40	−0.034%	$35.4M	$56.3M	75x	as long as short
Phoenix BNB	+0.0088%	1h	789.07	+0.051%	$170K	$35K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	788.10	−0.072%	$2.5M	$1.2M	50x	as long as short
Lighter BNBlong	+0.0096%	1h	788.67	long leg	$2.8M	$3.9M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	788.07	−0.076%	$381K	$380K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	788.35	−0.040%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	789.08	+0.052%	$51.7M	$18.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.66	−0.001%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.52	−0.019%	$138.7M	$78.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.20	−0.059%	$53.3M	$112.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.70	+0.004%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.35	−0.040%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.28	−0.049%	$76.9M	$30.0M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.79	+0.016%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	788.30	−0.046%	$4.1M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.22	−0.057%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.00	−0.085%	$137K	$945K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.19	−0.060%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.92	+0.032%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.58	−0.011%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	789.23	+0.071%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.31	−0.045%	$1.8M	$5.9M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0104%	8h	788.27	−0.050%	$2.9M	$27.9M	10x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.26	−0.052%	$379K	$110K	10x	as long as short
SoDEX BNB-USD	+0.0115%	1h	788.30	−0.047%	$388K	$1.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0175%	8h	788.70	+0.004%	$91K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0219%	1h	788.97	+0.038%	$160K	$64K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.54	−0.015%	$1.5M	$160K	25x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	789.04	+0.047%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	787.81	−0.109%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0340%	1h	789.39	+0.092%	$639K	$13K	10x	as long as short
RISEx BNB/USDC	+0.0361%	1h	788.75	+0.010%	$1.1M	$1.1M	20x	as long as short
Hibachi BNB/USDT-P	+0.0544%	1h	789.41	+0.094%	$67K	$39K	12x	as long as short