BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h −0.020%

Price spread now: Nado against Deribit−0.088%46s7-day average −0.074% · 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—prices read too far apart to compare

costs, in and out, $10k−$270.270% of the position

Long on Deribit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.088%, 7d avg −0.074%

Together, before fees+0.074%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.074%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.018% in total (about -2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BNB_USDC-PERPETUAL	788.69	0.0300	pay 0.0037% / 1h	47m 34s	$1.5M	$143K	25x
Short	Nado BNB-PERP	788.00	0.0100	get 0.0012% / 1h	47m 34s	$1.5M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Deribit. 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 DeribitbpFee NadobpOrdersPrice spread, now −0.088%Rate

Funding earned: −$42
Price spread: −0.088% → −0.074%: −$1.38
Slippage, 4 orders: −$12.98
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$70.36
Costs to cover: 0.270%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Nado: live order book, 1 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 Deribit live order book, 1 min ago	2.22 bp	7.8 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.13 bp	4.3 bp −$4	9.8 bp −$98	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 −0.0183% / S +0.0348%	1h	788.36	−0.043%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	788.72	+0.003%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.37	+0.086%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.41	−0.036%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.079%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0041%	8h	788.79	+0.011%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDT	+0.0054%	8h	788.72	+0.003%	—	$34.3M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	+0.247%	$583K	$1.9M	50x	as long as short
MEXC BNB_USDT	+0.0066%	8h	789.30	+0.077%	$80.1M	$12.2M	200x	as long as short
Binance BNBUSDT	+0.0067%	8h	789.24	+0.069%	$492.4M	$789.6M	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	+0.0071%	8h	788.95	+0.032%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.49	−0.025%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	−0.031%	$265K	$498K	50x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	788.00	−0.088%	$1.5M	$2.6M	20x
Hyperliquid BNB	+0.0100%	1h	788.87	+0.022%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.67	−0.003%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	788.40	−0.037%	$138.7M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.40	−0.037%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	+0.039%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.65	−0.006%	$35.3M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.16	−0.068%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.39	−0.039%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.87	+0.022%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	+0.053%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	789.39	+0.088%	$4.1M	$74.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	789.41	+0.091%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.43	−0.034%	$133K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.51	−0.023%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.02	+0.041%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.40	−0.037%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.96	+0.033%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.37	+0.086%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	788.21	−0.062%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.51	−0.024%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0114%	1h	788.41	−0.036%	$159K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.37	+0.212%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0134%	8h	789.57	+0.111%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.20	+0.064%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0188%	8h	789.53	+0.106%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.48	+0.100%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.14	−0.070%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.373%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUALlong	+0.0300%	1h	788.69	long leg	$1.5M	$143K	25x
Reya BNBRUSDPERP	+0.0326%	1h	788.10	−0.076%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.17	+0.060%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	789.02	+0.041%	$67K	$38K	12x	as long as short