Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0002%/8h= −0.3% APRpaid last 24h −0.011%

Price spread now: Nado against Aster−0.108%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$170.175% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$1 on $10k

Price spread, last 7 days+0.039%+$4 · spread now −0.108%, 7d avg −0.093%

Together, before fees+0.054%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BNBUSDT	805.92	0.0102	pay 0.0102% / 8h	1h 50m	$6.4M	$18.8M	200x
Short	Nado BNB-PERP	805.05	0.0100	get 0.0012% / 1h	50m 21s	$1.5M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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 AsterbpFee NadobpOrdersPrice spread, now −0.108%Rate

Funding earned: −$0.48
Price spread: −0.108% → −0.093%: −$1.49
Slippage, 4 orders: −$2.47
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$19.44
Costs to cover: 0.175%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; Nado: 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 Aster live order book, 4 min ago	0.19 bp	4.3 bp −$4	5.6 bp −$56	20.6 bp −$2,056	doesn't fit
Sell Nado live order book, 4 min ago	0.06 bp	4.6 bp −$5	10.4 bp −$104	doesn't fit	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 −0.0195% / S +0.0371%	1h	804.95	−0.120%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.98	+0.007%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.78	+0.107%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.60	−0.040%	$108K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.94	−0.122%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.97	−0.118%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0047%	8h	804.38	−0.191%	$4.1M	$5.3M	—	as long as short
Hibachi BNB/USDT-P	+0.0048%	1h	805.11	−0.101%	$71K	$48K	12x	as long as short
BingX BNB-USDC	+0.0056%	8h	805.32	−0.075%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	804.61	−0.163%	$139.3M	$81.9M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.78	−0.018%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	−0.020%	$608K	$882K	50x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	805.05	−0.108%	$1.5M	$2.8M	20x
Pacifica BNB	+0.0100%	1h	805.54	−0.047%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.80	−0.139%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.70	−0.027%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.90	−0.127%	$36.2M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	805.35	−0.071%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.62	−0.161%	$78.7M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.71	−0.026%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	805.60	−0.040%	$162K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.08	−0.104%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	805.05	−0.108%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.30	−0.076%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.23	−0.086%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.83	−0.135%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	806.18	+0.032%	$79K	$19K	50x	as long as short
Aster BNBUSDTlong	+0.0102%	8h	805.92	long leg	$6.4M	$18.8M	200x
Extended BNB-USD	+0.0104%	1h	804.62	−0.161%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.22	−0.086%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	806.10	+0.022%	$84.6M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.55	−0.046%	$520.5M	$805.4M	75x	as long as short
Phemex BNBUSDT	+0.0137%	8h	805.59	−0.041%	$70.3M	$51.9M	50x	as long as short
Hyperliquid BNB	+0.0148%	1h	805.81	−0.014%	$51.8M	$22.0M	10x	as long as short
SoDEX BNB-USD	+0.0154%	1h	805.20	−0.089%	$396K	$1.0M	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.39	−0.066%	$173K	$35K	10x	as long as short
dYdX BNB-USD	+0.0173%	1h	805.13	−0.098%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.03	−0.111%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.41	−0.063%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	−0.046%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.54	−0.047%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	−0.103%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.65	−0.033%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.78	−0.142%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	806.17	+0.031%	$29K	$1K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0713%	1h	806.03	+0.014%	$3.0M	$5.5M	40x	as long as short