Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0095%/8h= −10.3% APRpaid last 24h −0.038%

Price spread now: Nado against BloFin−0.084%7-day average −0.117% · 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−$17as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.098%−$10 on $10k

Price spread, last 4 days (all we have)+0.268%+$27 · spread now −0.084%, 7d avg −0.117%

Together, before fees+0.169%+ Points / potential airdropNado: Active · farm board+$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.033% dearer against BloFin than usual: you sell high and buy low (spread −0.084% now, against its 7-day average of −0.117%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BNB-USDT	790.06	0.0195	pay 0.0195% / 8h	5h 34m	$18.2M	$2.3M	75x
Short	Nado BNB-PERP	789.40	0.0100	get 0.0012% / 1h	34m 05s	$1.5M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now −0.084%Rate

Funding earned: −$19.85
Price spread: −0.084% → −0.117%: $3.32
Slippage, 4 orders: −$1.29
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$36.83
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from BloFin: live order book, 9 min ago; Nado: 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 BloFin live order book, 9 min ago	0.13 bp	6.2 bp −$6	8.2 bp −$82	13.8 bp −$1,384	doesn't fit
Sell Nado live order book, 5 min ago	0.06 bp	3.6 bp −$4	9.1 bp −$91	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 −0.0167% / S +0.0335%	1h	789.42	−0.081%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.74	−0.041%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.05	−0.001%	$854K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	789.38	−0.086%	$9.6M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.902%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0045%	8h	789.98	−0.010%	$6.3M	$18.7M	200x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	789.46	−0.076%	$618K	$1.8M	50x	as long as short
BingX BNB-USDT	+0.0059%	8h	790.00	−0.008%	—	$34.4M	—	as long as short
MEXC BNB_USDT	+0.0074%	8h	790.60	+0.068%	$80.3M	$12.4M	200x	as long as short
Binance BNBUSDT	+0.0075%	8h	790.46	+0.051%	$494.2M	$804.5M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0076%	8h	790.14	+0.010%	$69.2M	$51.1M	50x	as long as short
Variational Omni BNB	+0.0091%	8h	788.80	−0.160%	$4.1M	$4.6M	—	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	789.51	−0.070%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	789.85	−0.027%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.59	−0.059%	$266K	$497K	50x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	789.40	−0.084%	$1.5M	$2.6M	20x
Hyperliquid BNB	+0.0100%	1h	790.32	+0.033%	$51.8M	$18.1M	10x	as long as short
Pacifica BNB	+0.0100%	1h	789.35	−0.090%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.70	−0.046%	$138.9M	$77.3M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.60	−0.058%	$53.6M	$112.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.60	−0.058%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.75	−0.039%	$35.3M	$56.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.44	−0.078%	$27.7M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.54	−0.066%	$77.0M	$30.1M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.78	−0.035%	$2.2M	$6.1M	40x	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.01	−0.133%	$4.1M	$76.6M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.30	−0.096%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	789.39	−0.085%	$135K	$948K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.78	−0.036%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.21	+0.019%	$12K	$1.6M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	789.37	−0.087%	$8.1M	$9.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0103%	8h	789.94	−0.015%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.24	−0.104%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.52	−0.068%	$379K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	788.63	−0.181%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0132%	1h	789.70	−0.046%	$388K	$1.0M	10x	as long as short
GRVT BNB_USDT_Perp	+0.0137%	8h	789.50	−0.071%	$2.9M	$28.2M	10x	as long as short
Kalshi KXBNBPERP	+0.0192%	8h	790.10	+0.005%	$93K	$2.8M	4.8x	as long as short
BloFin BNB-USDTlong	+0.0195%	8h	790.06	long leg	$18.2M	$2.3M	75x
dYdX BNB-USD	+0.0231%	1h	788.84	−0.154%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	789.97	−0.011%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	790.00	−0.008%	$1.5M	$147K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	789.24	−0.103%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	789.69	−0.046%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0383%	1h	789.79	−0.034%	$640K	$6K	10x	as long as short
Hibachi BNB/USDT-P	+0.0592%	1h	789.79	−0.034%	$67K	$38K	12x	as long as short