Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Orderly against Lighter+0.028%7-day average +0.009% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)−0.364%−$36 · spread now +0.028%, 7d avg +0.009%

Together, before fees−0.301%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BNB	791.58	0.0096	pay 0.0012% / 1h	8m 20s	$2.8M	$3.9M	20x
Short	Orderly PERP_BNB_USDC	791.80	0.0100	get 0.0100% / 8h	5h 08m	$266K	$498K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.028%Rate

Funding earned: $0.83
Price spread: +0.028% → +0.009%: $1.96
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$3.21
Costs to cover: 0.060%
Break-even: 34.1 days

Slippage unknown: Lighter: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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, 4 min ago	0.50 bp	1.8 bp −$2	5.3 bp −$53	15.7 bp −$1,566	74.6 bp −$37.3K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0167% / S +0.0335%	1h	791.36	−0.027%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	791.61	+0.004%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.95	+0.173%	$857K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	791.89	+0.040%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.707%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.057%	$615K	$1.8M	50x	as long as short
Phemex BNBUSDT	+0.0049%	8h	791.85	+0.034%	$69.4M	$50.5M	50x	as long as short
Aster BNBUSDT	+0.0050%	8h	791.95	+0.047%	$6.2M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0059%	8h	792.11	+0.067%	—	$34.3M	—	as long as short
Binance BNBUSDT	+0.0071%	8h	792.18	+0.076%	$494.7M	$790.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BNB_USDT	+0.0072%	8h	792.30	+0.091%	$80.5M	$12.5M	200x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.20	−0.048%	$2.5M	$1.2M	50x	as long as short
Lighter BNBlong	+0.0096%	1h	791.58	long leg	$2.8M	$3.9M	20x
Orderly PERP_BNB_USDCshort	+0.0100%	8h	791.80	+0.028%	$266K	$498K	50x
Nado BNB-PERP	+0.0100%	1h	791.10	−0.060%	$1.5M	$2.6M	20x	as long as short
Hyperliquid BNB	+0.0100%	1h	791.98	+0.051%	$52.0M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	791.54	−0.004%	$1.2M	$914K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.62	+0.005%	$139.3M	$76.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.60	+0.003%	$53.7M	$112.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	791.60	+0.003%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.65	+0.009%	$35.5M	$57.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.20	−0.048%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.10	−0.060%	$77.0M	$29.8M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	791.70	+0.016%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.10	−0.061%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.85	+0.035%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	791.88	+0.038%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.26	−0.040%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	791.62	+0.006%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	791.97	+0.050%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	791.60	+0.003%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.39	−0.023%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.17	+0.075%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	790.89	−0.087%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.73	+0.020%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	791.53	−0.006%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0143%	8h	792.25	+0.086%	$2.9M	$27.9M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	791.90	+0.041%	$82K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0189%	1h	791.19	−0.048%	$160K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0192%	8h	791.99	+0.052%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0280%	1h	791.89	+0.040%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	791.87	+0.037%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	791.05	−0.067%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	791.71	+0.016%	$1.1M	$979K	20x	as long as short
Bulk BNB-USD	+0.0366%	1h	792.18	+0.077%	$641K	$9K	10x	as long as short
Hibachi BNB/USDT-P	+0.0584%	1h	792.19	+0.077%	$68K	$38K	12x	as long as short