Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Lighter+0.027%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

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

costs, in and out, $10k−$200.198% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.027%, 7d avg −0.035%

Together, before fees−0.063%+ Points / potential airdropLighter: Season 3 · farm board−$6 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: HTX is 0.063% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	784.82	0.0096	pay 0.0012% / 1h	4m 34s	$2.7M	$3.8M	20x
Short	HTX BNB-USDT	785.04	0.0100	get 0.0100% / 8h	4m 34s	$8.0M	$10.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter. 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 LighterbpFee HTXbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0.84
Price spread: +0.027% → −0.035%: $6.28
Slippage, 4 orders: −$7.77
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$12.65
Costs to cover: 0.198%
Break-even: 112.4 days

Slippage from Lighter: live order book, 3 min ago; HTX: 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 Lighter live order book, 3 min ago	1.10 bp	1.6 bp −$2	3.9 bp −$39	15.1 bp −$1,507	68.6 bp −$34.3K
Sell HTX live order book, 4 min ago	0.73 bp	7.4 bp −$7	10.7 bp −$107	44.1 bp −$4,408	doesn't fit

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 −0.0168% / S +0.0337%	1h	784.93	+0.014%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.34	+0.066%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	784.89	+0.008%	$2.5M	$1.2M	50x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	785.60	+0.099%	$171K	$2.7M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	785.83	+0.128%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	784.99	+0.021%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0031%	8h	785.32	+0.063%	$5.9M	$18.6M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.582%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0038%	8h	785.07	+0.031%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0047%	8h	786.00	+0.150%	$81.1M	$12.1M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0047%	8h	785.26	+0.055%	$488.3M	$813.8M	75x	as long as short
Phemex BNBUSDT	+0.0080%	8h	785.74	+0.117%	$68.6M	$51.2M	50x	as long as short
Lighter BNBlong	+0.0096%	1h	784.82	long leg	$2.7M	$3.8M	20x
Phoenix BNB	+0.0100%	1h	785.57	+0.095%	$158K	$35K	10x	as long as short
Nado BNB-PERP	+0.0100%	1h	784.45	−0.048%	$1.3M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	785.51	+0.087%	$51.5M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.03	+0.026%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.56	−0.034%	$138.1M	$73.7M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.50	−0.041%	$53.4M	$111.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.90	+0.010%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.75	−0.009%	$38.5M	$58.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	784.50	−0.041%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.32	−0.064%	$75.3M	$32.6M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.38	+0.071%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.74	−0.010%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	785.11	+0.037%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	785.13	+0.039%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.91	+0.011%	$131K	$942K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.09	+0.034%	$264K	$385K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.73	−0.012%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	785.40	+0.073%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.20	+0.048%	$386K	$959K	10x	as long as short
HTX BNB-USDTshort	+0.0100%	8h	785.04	+0.027%	$8.0M	$10.3M	75x
Paradex BNB-USD-PERP	+0.0100%	8h	785.40	+0.073%	$78K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.31	−0.066%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.06	+0.029%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	785.15	+0.041%	$544K	$1.9M	50x	as long as short
dYdX BNB-USD	+0.0126%	1h	784.99	+0.021%	$159K	$62K	10x	as long as short
BloFin BNB-USDT	+0.0167%	8h	785.47	+0.082%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	785.49	+0.085%	$1.5M	$141K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0215%	8h	785.41	+0.075%	$2.9M	$27.7M	10x	as long as short
Bulk BNB-USD	+0.0237%	1h	785.14	+0.040%	$636K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0248%	1h	785.43	+0.077%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0320%	1h	784.78	−0.006%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.05	+0.029%	$1.1M	$921K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	785.23	+0.052%	$67K	$39K	12x	as long as short