Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: KuCoin against Lighter−0.047%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$190.192% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.047%, 7d avg −0.022%

Together, before fees+0.052%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.025% cheaper against Lighter than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	787.76	0.0096	pay 0.0012% / 1h	25m 40s	$2.7M	$3.8M	20x
Short	KuCoin BNBUSDTM	787.39	0.0100	get 0.0100% / 8h	1h 25m	$27.7M	$10.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0.84
Price spread: −0.047% → −0.022%: −$2.54
Slippage, 4 orders: −$7.16
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$20.86
Costs to cover: 0.192%
Break-even: 180.8 days

Slippage from Lighter: live order book, 12 min ago; KuCoin: 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 Lighter live order book, 12 min ago	0.50 bp	0.5 bp $0	3.2 bp −$32	15.1 bp −$1,508	80.0 bp −$40.0K
Sell KuCoin live order book, 3 min ago	0.44 bp	7.8 bp −$8	15.9 bp −$159	47.2 bp −$4,724	doesn't fit

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 −0.0170% / S +0.0337%	1h	787.63	−0.016%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.93	+0.022%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.35	+0.075%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.94	+0.023%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.200%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.74	−0.003%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0052%	8h	788.05	+0.037%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0064%	8h	788.90	+0.145%	$81.1M	$12.1M	200x	as long as short
Binance BNBUSDT	+0.0065%	8h	788.02	+0.033%	$490.8M	$817.7M	75x	as long as short
dYdX BNB-USD	+0.0072%	1h	788.07	+0.039%	$160K	$62K	10x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0074%	8h	788.60	+0.107%	$68.9M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.058%	$568K	$1.9M	50x	as long as short
Lighter BNBlong	+0.0096%	1h	787.76	long leg	$2.7M	$3.8M	20x
Nado BNB-PERP	+0.0100%	1h	787.73	−0.003%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.16	+0.051%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.77	+0.001%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.59	−0.022%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.50	−0.033%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	788.20	+0.056%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.80	+0.005%	$37.6M	$59.2M	75x	as long as short
KuCoin BNBUSDTMshort	+0.0100%	8h	787.39	−0.047%	$27.7M	$10.2M	75x
Bitget BNBUSDT	+0.0100%	8h	787.45	−0.039%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.44	+0.086%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.71	−0.006%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.78	+0.003%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.02	+0.033%	$159K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.02	+0.033%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.98	+0.028%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	−0.219%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.03	+0.034%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.20	+0.056%	$388K	$982K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.42	+0.084%	$8.1M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	788.17	+0.051%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.56	−0.025%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.10	+0.043%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0135%	1h	787.67	−0.011%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0137%	8h	788.10	+0.043%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	788.11	+0.044%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	788.45	+0.088%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	788.04	+0.036%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0229%	8h	787.15	−0.077%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.82	+0.135%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0291%	1h	787.29	−0.059%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.81	+0.006%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	788.27	+0.065%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0520%	1h	787.21	−0.070%	$67K	$39K	12x	as long as short