LBank is a centralized exchange running USDT-margined perpetual futures across a very large contract list — well over a thousand markets when ORBIT measured its full instrument set, spanning majors and an unusually deep tail of smaller-cap tokens. It runs its futures product on a separate host from its spot API, with public market-data endpoints requiring no key.
What is LBank?
The single most important thing to understand about LBank, and the reason it deserves careful handling rather than a generic write-up, is its funding cadence. LBank has the widest spread of settlement intervals of any venue ORBIT tracks. The live distribution when measured: 31 markets settling hourly, 2 every two hours, 1,014 every four hours, and 743 every eight. More markets settle on a 4-hour cadence than on the 8-hour industry default.
That is not trivia. Annualising a funding rate means multiplying it by how often it is paid, so treating a 4-hour market as though it settled every 8 hours halves the APR you compute. Any comparison table that assumes a single 8-hour interval for this exchange is understating the majority of its markets by a factor of two — and this is precisely the class of error that makes cross-venue funding comparisons untrustworthy. ORBIT reads the interval per-market from the exchange's own data.
The other thing to know is that LBank publishes less market data than most venues in its tier. There is no public open-interest field, no public funding-history endpoint and no futures candlestick data. None of that affects whether you can trade there, but it does change what can be verified about it, and this review is explicit about which figures are consequently thinner.
This review covers what LBank is, its live metrics and the specific data gaps behind them, the interval situation in practical terms, its fee schedule, security considerations, the real risks, and how its funding compares live against every other exchange tracked on ORBIT.
LBank key metrics (2026)
A candid note on what you will and will not see below. LBank publishes no open-interest data through its public API, so that column is unavailable rather than estimated — ORBIT leaves it blank instead of substituting a proxy, because a fabricated number that looks like data is worse than an honest gap. Traded volume is published and is shown. The practical consequence for a funding trader is that you cannot use open interest to judge whether a market is deep enough here; you have to look at the order book itself, which is what the Size & Depth tool reads.
| Property | Detail |
|---|---|
| Exchange type | Centralized exchange (custodial), USDT-M futures |
| Market count | 1,700+ instruments across the full contract set |
| Funding interval | Measured: 31 markets @1h, 2 @2h, 1,014 @4h, 743 @8h |
| Base fees | 6 bps taker / 2 bps maker (published guide — no API field) |
| Open interest | Not published — column unavailable rather than estimated |
| Funding history | Not published — ORBIT history accrues from our own polling |
| Futures klines | Not published — mark-price history falls back to an external source |
| Orderbook level shape | Objects with price, volume and order count |
| Sign convention | Binance-style assumed — not documented by the venue |
| Metric | Value |
|---|---|
| Open interest (all markets) | $0 |
| 24h volume | $9.93B |
| Perp markets tracked | 683 |
| Average funding APR | +6.79% |
| Taker / maker fee | 6 bps / 2 bps |
LBank key features for traders
LBank's practical draw is sheer coverage: an unusually deep contract list that includes many tokens which never reach the largest venues at all. For a funding trader, a market listed on few exchanges is a market where the rate can drift meaningfully before anyone arbitrages it — which is where cross-venue spreads actually come from.
The mixed settlement cadence is the second structural feature and it is genuinely useful once you account for it correctly. A 4-hour market converts a funding divergence into realised carry twice as fast as an 8-hour one, so the holding period needed to capture a given spread is shorter.
- Very deep contract list: well over a thousand perpetual markets, including many small-caps unavailable elsewhere.
- Per-market funding intervals read live: 1h, 2h, 4h and 8h markets coexist, and ORBIT annualises each against its real cadence rather than a single assumed value.
- One bulk market-data call: funding, mark price and volume arrive together, which makes the venue cheap to poll and its snapshot internally consistent.
- Separate futures host: the contract API is independent of the spot API, with public market-data endpoints.
- Live-tracked on ORBIT: LBank funding appears next to every other venue on the Funding Screener, annualised correctly per market.
LBank sign-up bonus & fee discount
LBank does not run a tracked points programme or token-allocation campaign on ORBIT, so there is nothing speculative to farm here. Like most centralized exchanges it runs periodic promotions and referral incentives, which are marketing rather than a claim on a future distribution.
The only incentive worth building into a funding strategy is a durable reduction in per-trade cost. At 6 bps base taker, LBank sits mid-range, so a volume tier or referral discount that lowers your effective rate compounds across every round trip — while a one-off bonus should not change whether a given spread is worth trading.
LBank trading fees
LBank charges 6 bps taker and 2 bps maker on perpetuals. On a round-trip — entry and exit, and across two venues if you trade delta-neutral — those fees are the first thing any spread has to overcome. ORBIT's backtester subtracts both legs' taker fees plus live order-book slippage, so the PnL it shows is net, not headline.
LBank charges 6 bps taker and 2 bps maker at the base tier. A provenance caveat worth stating plainly: these figures come from the exchange's published fee guide rather than from an API field, because LBank exposes no programmatic fee data — ORBIT marks them unverified in our own code for exactly that reason. Confirm your real rate on your own fills before sizing a strategy. For a delta-neutral pair the deciding figure is the full round trip across both legs, around 24 bps before slippage at these rates, plus the slippage itself — which on this venue's long tail is frequently the larger term. ORBIT's backtester subtracts both from real order-book depth.
| Cost component | LBank | Note |
|---|---|---|
| Taker fee | 6 bps (0.06%) | Published guide — no API field, unverified |
| Maker fee | 2 bps (0.02%) | Same source and caveat |
| Funding interval | 1h / 2h / 4h / 8h | Per-market — most markets are 4h, not 8h |
| Round trip, one leg | ~12 bps | Taker in + taker out, before slippage |
| Both legs of a pair | ~24 bps | The hurdle a funding spread must clear |
Funding rates on LBank
LBank settles funding every 1h / 2h / 4h / 8h (per market). Funding is the payment between longs and shorts that anchors the perpetual to spot — and because every venue computes its own rate, the same asset can pay very differently on LBank than on another exchange at the same moment. That gap is a tradeable, delta-neutral edge.
Is LBank safe?
LBank is a centralized custodial exchange, so deposited margin depends on the operator's solvency, security and willingness to process withdrawals. That is the dominant risk here as on any CEX, and nothing about the trading product changes it.
LBank has a long operating history, which is meaningful evidence of durability in a category where many venues have not survived a full cycle. As always, history describes the past rather than guaranteeing the future, and exchange failures are typically preceded by extended periods of ordinary-looking operation.
The transparency gaps deserve honest weight rather than being buried. LBank publishes no open interest, no funding history and no futures candlesticks, and exposes no programmatic fee schedule. Individually each is minor; together they mean less of what this venue reports can be independently checked than for better-instrumented exchanges. That is not evidence of anything improper — plenty of legitimate venues publish sparse data — but it does mean you should lean harder on what you can verify directly: your own fills, your own fee, and the live order book.
The proportionate response is ordinary hygiene applied consistently: keep only the margin your positions require on the exchange, withdraw profits rather than letting balances accumulate, and treat it as one venue among several rather than a place capital lives.
LBank risks and considerations
- Interval assumptions will mislead you. With more markets on 4h than 8h, any comparison that assumes a uniform 8-hour cadence understates the APR on most of this exchange by half. Always compare annualised APR, never raw per-interval rates.
- Custodial counterparty risk. Deposited funds are held by the exchange — the standard and dominant risk in this category.
- No public open interest. You cannot use OI to judge market depth here; the order book is the only available signal.
- Fee figures unverified. Taken from a published guide rather than an API. Confirm your actual rate on real fills.
- Undocumented sign convention. The direction of funding payments is assumed from industry standard rather than confirmed by the venue. Verify against your own first settlement.
- Very long tail. With over a thousand markets, the majority carry little real depth. A dramatic APR on a small-cap here usually reflects thinness rather than opportunity.
How to get started with LBank
- Open LBank and complete account onboarding — standard centralized-exchange verification applies.
- Deposit USDT margin, place a small trade, and confirm your actual fee on the fill — the published guide is the only public source for it.
- Open the Funding Screener and compare annualised APR, never raw per-interval rates — this matters more on LBank than on any other venue because of the interval spread.
- Judge depth from the order book via Size & Depth rather than from open interest, which this venue does not publish.
- Confirm the net edge in the backtester — it subtracts both legs' fees and real slippage, and annualises each market against its true settlement cadence.
LBank vs Gate.io
The closest comparisons are Gate.io and MEXC, both long-running broad-listings exchanges competing on the same coverage-first proposition with deeper books and more complete public data. LBank's case against either is a specific small-cap market they do not carry, or a funding rate that has genuinely diverged on a thinly listed contract. For a delta-neutral pair the method is unchanged: compare annualised rates, verify both books absorb your size, and let the measured spread decide the direction rather than any view about which exchange is better.
LBank is also frequently weighed against MEXC — see the LBank vs MEXC comparison for the full breakdown.
LBank review: verdict
LBank is a very broad centralized exchange whose main value to a funding trader is coverage of small-cap markets that never reach the largest venues, where rates can drift before anyone corrects them. The one thing to internalise before trading it is the funding cadence: with more markets settling every four hours than every eight, any comparison assuming the 8-hour default understates most of this exchange by half — compare annualised APR and nothing else. The honest limitations are a thinner public data surface than its peers (no open interest, no funding history, no programmatic fees), a sign convention that is assumed rather than documented, and custodial risk that applies as it does everywhere in this category. Used deliberately on markets that have genuinely diverged, with depth read from the order book and your real fee confirmed on your own fills, it earns a place in the rotation — as a default venue for size, better-instrumented exchanges remain the sounder choice.