Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0045%/8h= +4.9% APRpaid last 24h +0.012%

Price spread now: Lighter against BingX+0.034%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$160.163% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.034% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BNB-USDC	789.10	0.0051	pay 0.0051% / 8h	5h 59m	—	$13.4M	—
Short	Lighter BNB	789.37	0.0096	get 0.0012% / 1h	59m 02s	$2.8M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.034%Rate

Funding earned: $9.45
Price spread: +0.034% → 0.000%: $3.4
Slippage, 4 orders: −$6.27
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$3.43
Costs to cover: 0.163%
Break-even: 9.5 days

Slippage from BingX: live order book, 9 min ago; Lighter: live order book, 3 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 BingX live order book, 9 min ago	0.32 bp	6.1 bp −$6	8.6 bp −$86	17.2 bp −$1,715	60.8 bp −$30.4K
Sell Lighter live order book, 3 min ago	0.59 bp	1.2 bp −$1	4.9 bp −$49	15.2 bp −$1,520	71.9 bp −$35.9K

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 −0.0167% / S +0.0335%	1h	788.99	−0.014%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.66	+0.071%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.76	+0.084%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.04	−0.008%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.026%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	789.77	+0.085%	$6.2M	$18.9M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.66	+0.071%	$619K	$1.8M	50x	as long as short
BingX BNB-USDClong	+0.0051%	8h	789.10	long leg	—	$13.4M	—
Phemex BNBUSDT	+0.0055%	8h	789.71	+0.077%	$69.1M	$50.8M	50x	as long as short
Variational Omni BNB	+0.0062%	8h	789.21	+0.014%	$4.1M	$4.8M	—	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0068%	8h	789.90	+0.101%	$80.5M	$12.3M	200x	as long as short
Binance BNBUSDT	+0.0069%	8h	789.58	+0.061%	$494.4M	$811.1M	75x	as long as short
Gate BNB_USDT	+0.0074%	8h	789.00	−0.013%	$35.4M	$56.1M	75x	as long as short
Phoenix BNB	+0.0088%	1h	789.72	+0.079%	$170K	$34K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.20	+0.013%	$2.5M	$1.2M	50x	as long as short
Lighter BNBshort	+0.0096%	1h	789.37	+0.034%	$2.8M	$3.9M	20x
GRVT BNB_USDT_Perp	+0.0098%	8h	790.16	+0.134%	$2.9M	$28.4M	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.08	−0.003%	$381K	$380K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	789.05	−0.006%	$1.5M	$2.6M	20x	as long as short
Pacifica BNB	+0.0100%	1h	789.62	+0.066%	$1.2M	$909K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.03	−0.009%	$138.8M	$79.2M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.90	−0.025%	$53.3M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	+0.063%	$52K	$135K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.84	−0.033%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.99	−0.014%	$77.1M	$29.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.58	+0.061%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.88	+0.099%	$4.1M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.88	+0.099%	$159K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.04	−0.008%	$137K	$946K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.24	+0.017%	$31K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.88	+0.099%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.06	−0.005%	$8.1M	$9.0M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	790.05	+0.120%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.76	−0.043%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.13	+0.003%	$379K	$110K	10x	as long as short
Hyperliquid BNB	+0.0122%	1h	789.72	+0.078%	$51.8M	$18.7M	10x	as long as short
dYdX BNB-USD	+0.0124%	1h	788.88	−0.028%	$160K	$64K	10x	as long as short
Kalshi KXBNBPERP	+0.0178%	8h	789.60	+0.063%	$90K	$2.8M	4.8x	as long as short
SoDEX BNB-USD	+0.0181%	1h	789.20	+0.013%	$388K	$1.0M	10x	as long as short
Bulk BNB-USD	+0.0298%	1h	789.80	+0.089%	$640K	$13K	10x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	788.85	−0.032%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0336%	1h	789.96	+0.109%	$28K	$4K	10x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.65	+0.070%	$1.1M	$1.1M	20x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0400%	1h	789.62	+0.065%	$1.5M	$160K	25x	as long as short
Hibachi BNB/USDT-P	+0.0528%	1h	789.28	+0.022%	$67K	$39K	12x	as long as short