Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0080%/8h= +8.7% APRpaid last 24h +0.002%

Price spread now: Lighter against Binance−0.061%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$130.128% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 7 days−0.023%−$2 · spread now −0.061%, 7d avg −0.079%

Together, before fees−0.028%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.079%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	788.19	0.0016	pay 0.0016% / 8h	5h 56m	$481.8M	$767.3M	75x
Short	Lighter BNB	787.71	0.0096	get 0.0012% / 1h	56m 37s	$2.7M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.061%Rate

Funding earned: $16.77
Price spread: −0.061% → −0.079%: $1.84
Slippage, 4 orders: −$2.82
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $5.79
Costs to cover: 0.128%
Break-even: 4.6 days

Slippage from Binance: live order book, 10 min ago; Lighter: live order book, 4 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 Binance live order book, 10 min ago	0.06 bp	5.1 bp −$5	6.1 bp −$61	15.4 bp −$1,537	doesn't fit
Sell Lighter live order book, 4 min ago	0.75 bp	0.7 bp −$1	4.7 bp −$47	13.6 bp −$1,361	69.1 bp −$34.6K

BNB on 45 exchanges

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 −0.0166% / S +0.0336%	1h	787.51	−0.087%	$43K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0085%	1h	787.51	−0.087%	$2.5M	$1.2M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.09	−0.013%	$4K	—	25x	as long as short
Aster BNBUSDT	0.0000%	8h	788.16	−0.005%	$6.0M	$17.1M	200x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	787.97	−0.028%	$2.9M	$26.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	787.90	−0.037%	$139K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	788.38	+0.024%	$850K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.45	−0.094%	$9.5M	—	150x	as long as short
MEXC BNB_USDT	+0.0016%	8h	789.20	+0.128%	$83.4M	$11.7M	200x	as long as short
Binance BNBUSDTlong	+0.0016%	8h	788.19	long leg	$481.8M	$767.3M	75x

Show all 45 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.144%	$19K	$789K	30x	as long as short
Bybit BNBUSDT	+0.0050%	8h	787.30	−0.113%	$138.6M	$67.2M	75x	as long as short
BloFin BNB-USDT	+0.0067%	8h	788.01	−0.023%	$18.4M	$2.2M	75x	as long as short
Phemex BNBUSDT	+0.0090%	8h	788.18	−0.002%	$68.5M	$51.1M	50x	as long as short
Phoenix BNB	+0.0094%	1h	787.95	−0.031%	$158K	$45K	10x	as long as short
Lighter BNBshort	+0.0096%	1h	787.71	−0.061%	$2.7M	$3.3M	20x
Nado BNB-PERP	+0.0100%	1h	787.15	−0.132%	$1.4M	$2.4M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	788.16	−0.004%	$51.9M	$16.9M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.87	−0.041%	$1.2M	$932K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.30	−0.113%	$53.3M	$102.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.70	−0.062%	$57K	$122K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.45	−0.094%	$41.1M	$53.7M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.42	−0.098%	$28.2M	$9.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.28	−0.116%	$75.7M	$30.7M	75x	as long as short
BingX BNB-USDT	+0.0100%	8h	787.58	−0.078%	—	$50.2M	—	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.96	−0.029%	$2.2M	$6.0M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.17	−0.130%	$4.3M	$4.5M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	787.96	−0.029%	$4.1M	$75.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	787.98	−0.027%	$159K	$444K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.39	−0.102%	$130K	$905K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.59	−0.076%	$265K	$297K	50x	as long as short
SunX BNB-USDT	+0.0100%	8h	787.90	−0.037%	$12K	$1.3M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	787.70	−0.062%	$387K	$926K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	787.91	−0.036%	$1.5M	$157K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.86	−0.042%	$8.0M	$10.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	788.06	−0.017%	$78K	$356K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.01	−0.150%	$1.8M	$5.6M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.52	−0.086%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	788.03	−0.021%	$545K	$1.9M	50x	as long as short
01 Exchange BNBUSD	+0.0240%	1h	787.88	−0.040%	$28K	$3K	10x	as long as short
Bulk BNB-USD	+0.0282%	1h	788.09	−0.013%	$639K	$0	10x	as long as short
Reya BNBRUSDPERP	+0.0317%	1h	786.90	−0.163%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0320%	1h	787.75	−0.057%	$67K	$37K	12x	as long as short
RISEx BNB/USDC	+0.0393%	1h	787.81	−0.048%	$1.1M	$901K	20x	as long as short
dYdX BNB-USD	+0.1122%	1h	787.47	−0.091%	$158K	$34K	10x	as long as short