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: Orderly against Lighter−0.008%7-day average +0.005% · you buy dearer than you sell

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.008%, 7d avg +0.005%

Together, before fees+0.063%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	787.02	0.0096	pay 0.0012% / 1h	44m 52s	$2.7M	$3.8M	20x
Short	Orderly PERP_BNB_USDC	786.96	0.0100	get 0.0100% / 8h	1h 44m	$265K	$471K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.008%Rate

Funding earned: $0.84
Price spread: −0.008% → +0.005%: −$1.28
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$6.44
Costs to cover: 0.060%
Break-even: 60.7 days

Slippage unknown: Lighter: live order book, 3 min ago; Orderly: no order-book sample. 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 Lighter live order book, 3 min ago	1.06 bp	1.1 bp −$1	4.7 bp −$47	15.3 bp −$1,526	73.7 bp −$36.8K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 −0.0170% / S +0.0337%	1h	786.89	−0.017%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.54	−0.061%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	786.82	−0.026%	$849K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.89	−0.016%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.296%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0048%	8h	787.19	+0.021%	$6.1M	$19.0M	200x	as long as short
BingX BNB-USDC	+0.0054%	8h	786.79	−0.030%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0067%	8h	787.22	+0.025%	$490.4M	$816.6M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	787.70	+0.086%	$81.0M	$12.0M	200x	as long as short
dYdX BNB-USD	+0.0069%	1h	786.47	−0.071%	$159K	$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	+0.0075%	8h	787.02	0.000%	$68.9M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.88	−0.018%	$568K	$1.9M	50x	as long as short
Lighter BNBlong	+0.0096%	1h	787.02	long leg	$2.7M	$3.8M	20x
Nado BNB-PERP	+0.0100%	1h	786.05	−0.124%	$1.4M	$2.7M	20x	as long as short
Pacifica BNB	+0.0100%	1h	786.36	−0.084%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.59	−0.055%	$138.5M	$75.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.067%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.40	−0.079%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.70	−0.041%	$37.1M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.68	−0.044%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.36	−0.084%	$76.1M	$31.1M	75x	as long as short
Variational Omni BNB	+0.0100%	8h	785.91	−0.141%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.94	−0.011%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.08	+0.007%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.67	−0.045%	$131K	$949K	10x	as long as short
Orderly PERP_BNB_USDCshort	+0.0100%	8h	786.96	−0.008%	$265K	$471K	50x
Derive BNB-PERP	+0.0100%	1h	787.19	+0.021%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.47	+0.057%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.00	−0.003%	$387K	$985K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.86	−0.021%	$8.0M	$10.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.80	−0.028%	$76K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.37	−0.082%	$1.8M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.00	−0.004%	$378K	$110K	10x	as long as short
Hyperliquid BNB	+0.0123%	1h	787.47	+0.057%	$51.5M	$17.6M	10x	as long as short
Backpack BNB_USDC_PERP	+0.0123%	1h	787.37	+0.044%	$2.2M	$6.1M	40x	as long as short
Phoenix BNB	+0.0135%	1h	786.68	−0.044%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0141%	8h	787.00	−0.003%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0187%	8h	787.52	+0.063%	$17.8M	$2.2M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.99	−0.004%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0227%	8h	787.04	+0.002%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	786.74	−0.036%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	787.42	+0.051%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.56	−0.059%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0328%	1h	787.20	+0.023%	$638K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.39	−0.081%	$1.1M	$913K	20x	as long as short
Hibachi BNB/USDT-P	+0.0552%	1h	786.45	−0.073%	$67K	$39K	12x	as long as short