Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h −0.004%

Price spread now: Lighter against MEXC−0.102%7-day average −0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$90.094% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 7 days−0.099%−$10 · spread now −0.102%, 7d avg −0.184%

Together, before fees−0.099%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.082% dearer against MEXC than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.184%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	788.50	0.0061	pay 0.0061% / 8h	1h 16m	$81.1M	$12.1M	200x
Short	Lighter BNB	787.70	0.0096	get 0.0012% / 1h	16m 32s	$2.7M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.102%Rate

Funding earned: $7.35
Price spread: −0.102% → −0.184%: $8.19
Slippage, 4 orders: −$5.44
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $6.09
Costs to cover: 0.094%
Break-even: 1.2 days

Slippage from MEXC: live order book, 3 min ago; Lighter: live order book, 11 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 MEXC live order book, 3 min ago	0.63 bp	2.6 bp −$3	5.0 bp −$50	21.8 bp −$2,175	39.6 bp −$19.8K
Sell Lighter live order book, 11 min ago	0.75 bp	1.9 bp −$2	4.3 bp −$43	12.5 bp −$1,254	65.6 bp −$32.8K

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 −0.0170% / S +0.0337%	1h	787.40	−0.139%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.96	−0.068%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.18	−0.041%	$850K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.47	−0.130%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.104%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0051%	8h	787.65	−0.108%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0051%	8h	788.01	−0.063%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDTlong	+0.0061%	8h	788.50	long leg	$81.1M	$12.1M	200x
Binance BNBUSDT	+0.0062%	8h	787.91	−0.075%	$490.4M	$820.6M	75x	as long as short
dYdX BNB-USD	+0.0066%	1h	787.95	−0.069%	$160K	$62K	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0075%	8h	788.09	−0.052%	$68.9M	$51.2M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.30	−0.152%	$568K	$1.9M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	787.70	−0.102%	$2.7M	$3.9M	20x
Nado BNB-PERP	+0.0100%	1h	787.25	−0.159%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.10	−0.051%	$51.6M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.84	−0.084%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.30	−0.152%	$138.6M	$75.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.152%	$53.6M	$113.3M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.60	−0.114%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.45	−0.133%	$37.7M	$59.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.08	−0.180%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.19	−0.166%	$76.2M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.11	−0.049%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.41	−0.138%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.95	−0.069%	$4.1M	$76.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	788.19	−0.039%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.30	−0.152%	$132K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.48	−0.129%	$265K	$470K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.99	−0.065%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.60	−0.114%	$387K	$979K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.80	−0.089%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.16	−0.043%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.02	−0.187%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.51	−0.126%	$378K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0125%	8h	787.90	−0.076%	$170K	$2.7M	4.8x	as long as short
Phoenix BNB	+0.0135%	1h	787.70	−0.101%	$169K	$35K	10x	as long as short
BloFin BNB-USDT	+0.0182%	8h	788.16	−0.043%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.88	−0.079%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	787.50	−0.127%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0230%	8h	788.28	−0.028%	$2.9M	$29.4M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	788.23	−0.034%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0262%	1h	788.32	−0.023%	$639K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	787.12	−0.174%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	787.69	−0.103%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0496%	1h	787.60	−0.114%	$67K	$39K	12x	as long as short