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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 09:00 UTC+0.0223%/8h= +24.4% APRnext payment +$0.28 per $10,000 · paid last 24h +0.069%
Price spread now: Reya against Lighter−0.074%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Long on LighterShort on Reya
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)—no history yet
Price spread, last 7 days—no price history on both exchanges yet
Together, before fees—+ Points / potential airdropLighter: Season 3 · Reya: Active · farm boardneeds both histories
Funding pays, the price is against you. Reya is 0.074% cheaper against Lighter than usual: you would sell low and buy high (spread −0.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 27 hours of funding at the current rate (+$7 a day).
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongLighter BNB788.100.0096pay 0.0012% / 1h21m 03s$2.7M$3.7M20x
ShortReya BNBRUSDPERP787.520.0319get 0.0040% / 1h21m 03s$6K$3K40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Reya 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

Funding earned
$46.81
Price spread: −0.074% → 0.000%
−$7.4
Slippage, 4 orders
no order book: not counted
Fee Lighter: 0 bp × 2 orders
$0
Fee Reya: 3 bp × 2 orders
−$6
Net
$33.41
Costs to cover
0.060%
Break-even
2.0 days
Slippage unknown: Lighter: live order book, 6 min ago; Reya: 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
LegHalf-spread$10k$100k$1M$5M
Buy Lighter live order book, 6 min ago1.50 bp1.5 bp −$24.0 bp −$4013.7 bp −$1,37469.3 bp −$34.6K
Sell Reya no order-book sample—————
Reya: 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.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0166% / S +0.0337%1h787.89−0.027%$43K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h787.66−0.056%$4K—25xas long as short
Kraken Futures PF_BNBUSD−0.0021%1h788.03−0.008%$2.5M$1.2M50xas long as short
GRVT BNB_USDT_Perp0.0000%8h786.95−0.146%$3.0M$27.0M10xas long as short
StandX BNB-USD0.0000%1h787.59−0.065%$849K$2.7M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0007% / S −0.0007%1h787.12−0.124%$9.5M—150xas long as short
Aster BNBUSDT+0.0018%8h788.25+0.019%$6.0M$18.2M200xas long as short
BingX BNB-USDT+0.0028%8h788.20+0.013%—$22.1M—as long as short
Injective BNB/USDC PERP+0.0033%1h805.09+2.156%$19K$789K30xas long as short
MEXC BNB_USDT+0.0035%8h789.70+0.203%$82.9M$12.3M200xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Binance BNBUSDT+0.0035%8h788.11+0.001%$489.3M$805.1M75xas long as short
Lighter BNBlong+0.0096%1h788.10long leg$2.7M$3.7M20x
Nado BNB-PERP+0.0100%1h787.15−0.121%$1.4M$2.6M20xas long as short
Hyperliquid BNB+0.0100%1h788.52+0.053%$51.7M$17.4M10xas long as short
Pacifica BNB+0.0100%1h787.40−0.089%$1.2M$937K20xas long as short
Bybit BNBUSDT+0.0100%8h787.48−0.079%$138.7M$72.4M75xas long as short
OKX BNB-USDT-SWAP+0.0100%8h787.40−0.089%$53.5M$109.5M50xas long as short
Arcus BNB-USD+0.0100%1h787.50−0.076%$52K$125K10xas long as short
Gate BNB_USDT+0.0100%8h788.05−0.006%$39.7M$56.1M75xas long as short
KuCoin BNBUSDTM+0.0100%8h787.69−0.052%$27.8M$9.9M75xas long as short
Bitget BNBUSDT+0.0100%8h787.28−0.104%$75.5M$32.1M75xas long as short
Backpack BNB_USDC_PERP+0.0100%1h788.36+0.033%$2.2M$6.1M40xas long as short
Variational Omni BNB+0.0100%8h783.60−0.571%$4.3M$5.0M—as long as short
edgeX BNBUSDC+0.0100%4h786.58−0.193%$4.1M$76.2M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h786.61−0.189%$158K$440K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h787.39−0.090%$132K$922K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h788.11+0.001%$265K$357K50xas long as short
Derive BNB-PERP+0.0100%1h784.27−0.487%$31K$12K10xas long as short
SunX BNB-USDT+0.0100%8h788.59+0.062%$12K$1.5M50xas long as short
SoDEX BNB-USD+0.0100%1h788.20+0.013%$388K$940K10xas long as short
HTX BNB-USDT+0.0100%8h787.48−0.079%$8.0M$10.3M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h787.55−0.070%$78K$47K50xas long as short
Extended BNB-USD+0.0104%1h787.71−0.049%$1.8M$5.8M50xas long as short
Aevo BNB-PERP+0.0104%1h787.92−0.023%$378K$110K10xas long as short
Kalshi KXBNBPERP+0.0109%8h788.50+0.051%$160K$2.6M4.8xas long as short
Phemex BNBUSDT+0.0109%8h788.52+0.053%$68.6M$51.2M50xas long as short
Coinbase International BNB-PERP-INTX+0.0120%1h787.14−0.122%$548K$1.9M50xas long as short
Phoenix BNB+0.0120%1h785.71−0.303%$158K$38K10xas long as short
BloFin BNB-USDT+0.0142%8h788.51+0.052%$17.9M$2.2M75xas long as short
Deribit BNB_USDC-PERPETUAL+0.0200%1h788.46+0.046%$1.5M$141K25xas long as short
Bulk BNB-USD+0.0200%1h784.80−0.419%$636K$63010xas long as short
dYdX BNB-USD+0.0211%1h787.48−0.078%$158K$65K10xas long as short
01 Exchange BNBUSD+0.0232%1h787.91−0.024%$28K$3K10xas long as short
Reya BNBRUSDPERPshort+0.0319%1h787.52−0.074%$6K$3K40x
RISEx BNB/USDC+0.0355%1h787.27−0.105%$1.1M$887K20xas long as short
Hibachi BNB/USDT-P+0.0408%1h787.26−0.107%$67K$39K12xas long as short