Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against KuCoin+0.061%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 7 days−0.073%−$7 · spread now +0.061%, 7d avg +0.019%

Together, before fees−0.105%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.041% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BNBUSDTM	793.01	0.0100	pay 0.0100% / 8h	6h 17m	$27.7M	$10.1M	75x
Short	Lighter BNB	793.49	0.0096	get 0.0012% / 1h	17m 27s	$2.8M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$0.84
Price spread: +0.061% → +0.019%: $4.14
Slippage, 4 orders: −$11.13
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.83
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Lighter: live order book, 5 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 KuCoin live order book, 6 min ago	0.44 bp	10.9 bp −$11	24.9 bp −$249	62.1 bp −$6,206	doesn't fit
Sell Lighter live order book, 5 min ago	0.50 bp	0.5 bp −$1	3.6 bp −$36	12.3 bp −$1,234	66.5 bp −$33.2K

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	793.55	+0.068%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	793.81	+0.102%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	793.57	+0.071%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	793.90	+0.112%	$858K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	793.19	+0.023%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.523%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0034%	8h	793.74	+0.092%	$6.1M	$19.7M	200x	as long as short
Variational Omni BNB	+0.0038%	8h	794.10	+0.138%	$4.1M	$4.9M	—	as long as short
BingX BNB-USDT	+0.0050%	8h	793.27	+0.033%	—	$34.9M	—	as long as short
Phemex BNBUSDT	+0.0056%	8h	794.05	+0.131%	$69.4M	$50.7M	50x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0056%	1h	795.53	+0.318%	$610K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0061%	8h	793.80	+0.100%	$82.4M	$12.8M	200x	as long as short
Gate BNB_USDT	+0.0062%	8h	793.05	+0.005%	$35.4M	$56.6M	75x	as long as short
Binance BNBUSDT	+0.0062%	8h	793.70	+0.087%	$493.7M	$809.9M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0069%	8h	793.89	+0.111%	$3.0M	$28.4M	10x	as long as short
dYdX BNB-USD	+0.0080%	1h	792.96	−0.006%	$160K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	794.20	+0.150%	$171K	$36K	10x	as long as short
Lighter BNBshort	+0.0096%	1h	793.49	+0.061%	$2.8M	$4.0M	20x
Orderly PERP_BNB_USDC	+0.0100%	8h	793.45	+0.055%	$383K	$409K	50x	as long as short
Nado BNB-PERP	+0.0100%	1h	793.06	+0.006%	$1.4M	$2.7M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	793.72	+0.090%	$52.0M	$19.3M	10x	as long as short
Pacifica BNB	+0.0100%	1h	793.52	+0.064%	$1.2M	$915K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	793.06	+0.006%	$138.6M	$75.6M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	792.80	−0.026%	$53.2M	$110.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	793.40	+0.049%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTMlong	+0.0100%	8h	793.01	long leg	$27.7M	$10.1M	75x
Bitget BNBUSDT	+0.0100%	8h	793.00	−0.001%	$77.2M	$28.1M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	793.72	+0.089%	$4.1M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	793.68	+0.084%	$160K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	793.24	+0.029%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	793.75	+0.094%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.17	+0.146%	$12K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	793.80	+0.100%	$390K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.18	+0.021%	$8.1M	$8.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	793.95	+0.118%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	792.74	−0.034%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	793.74	+0.092%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	793.46	+0.057%	$1.1M	$1.1M	20x	as long as short
Kalshi KXBNBPERP	+0.0154%	8h	794.80	+0.226%	$113K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0195%	1h	795.93	+0.368%	$644K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	793.67	+0.083%	$28K	$3K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	794.15	+0.144%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0328%	1h	792.79	−0.028%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0389%	1h	794.11	+0.139%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	793.58	+0.072%	$68K	$38K	12x	as long as short