Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h −0.002%

Price spread now: Lighter against Aster−0.061%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$100.102% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 7 days−0.017%−$2 · spread now −0.061%, 7d avg −0.080%

Together, before fees0.000%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.080%, 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	Aster BNBUSDT	787.20	0.0050	pay 0.0050% / 8h	1h 30m	$6.1M	$18.9M	200x
Short	Lighter BNB	786.72	0.0096	get 0.0012% / 1h	30m 57s	$2.7M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.061%Rate

Funding earned: $9.64
Price spread: −0.061% → −0.080%: $1.91
Slippage, 4 orders: −$2.19
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.36
Costs to cover: 0.102%
Break-even: 6.0 days

Slippage from Aster: live order book, 3 min ago; Lighter: live order book, 7 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 Aster live order book, 3 min ago	0.25 bp	4.9 bp −$5	6.3 bp −$63	18.2 bp −$1,824	doesn't fit
Sell Lighter live order book, 7 min ago	0.50 bp	0.5 bp $0	3.4 bp −$34	14.9 bp −$1,487	81.7 bp −$40.8K

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	786.45	−0.096%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	786.78	−0.053%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	787.19	−0.001%	$849K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.52	−0.087%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.273%	$19K	$789K	30x	as long as short
Aster BNBUSDTlong	+0.0050%	8h	787.20	long leg	$6.1M	$18.9M	200x
BingX BNB-USDT	+0.0051%	8h	786.78	−0.053%	—	$22.3M	—	as long as short
MEXC BNB_USDT	+0.0064%	8h	787.80	+0.076%	$81.1M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0065%	8h	787.20	0.000%	$490.4M	$815.6M	75x	as long as short
dYdX BNB-USD	+0.0075%	1h	786.36	−0.107%	$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	+0.0076%	8h	787.12	−0.010%	$68.8M	$51.0M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	786.20	−0.127%	$568K	$1.9M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	786.72	−0.061%	$2.7M	$3.8M	20x
Nado BNB-PERP	+0.0100%	1h	786.10	−0.140%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	787.13	−0.009%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.50	−0.089%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.50	−0.089%	$138.4M	$75.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.50	−0.089%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.50	−0.089%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.60	−0.076%	$37.4M	$59.0M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.41	−0.100%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	786.37	−0.105%	$76.1M	$31.2M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.98	−0.028%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.51	−0.214%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.71	−0.062%	$4.1M	$76.0M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.63	−0.072%	$158K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.33	−0.111%	$131K	$951K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.55	−0.083%	$265K	$470K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.03	−0.148%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.08	−0.016%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.70	−0.064%	$387K	$982K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.45	−0.096%	$8.0M	$10.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	786.91	−0.037%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	786.26	−0.119%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.53	−0.086%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0135%	1h	786.26	−0.119%	$169K	$35K	10x	as long as short
Kalshi KXBNBPERP	+0.0136%	8h	786.80	−0.051%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0185%	8h	787.15	−0.006%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.89	−0.039%	$1.5M	$145K	25x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	786.37	−0.106%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	+0.0229%	8h	787.25	+0.007%	$2.9M	$29.5M	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	786.97	−0.029%	$28K	$4K	10x	as long as short
Bulk BNB-USD	+0.0291%	1h	787.29	+0.012%	$638K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0322%	1h	786.16	−0.132%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0438%	1h	786.73	−0.060%	$1.1M	$915K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	786.65	−0.070%	$67K	$39K	12x	as long as short