Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against edgeX−0.320%62s7-day average −0.059% · 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−$230.230% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days+0.277%+$28 · spread now −0.320%, 7d avg −0.059%

Together, before fees+0.276%+ Points / potential airdropedgeX: Active · Nado: Active · farm board+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.261% cheaper against edgeX than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of −0.059%. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BNBUSDC	790.98	0.0100	pay 0.0050% / 4h	47m 57s	$4.1M	$74.4M	30x
Short	Nado BNB-PERP	788.45	0.0100	get 0.0012% / 1h	47m 57s	$1.5M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −0.320%Rate

Funding earned: $0
Price spread: −0.320% → −0.059%: −$26.09
Slippage, 4 orders: −$6.97
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$49.07
Costs to cover: 0.230%
Break-even: never at this rate

Slippage from edgeX: 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 edgeX live order book, 1 min ago	2.54 bp	7.0 bp −$7	7.0 bp −$70	10.2 bp −$1,023	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	−0.332%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	789.25	−0.219%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	789.66	−0.167%	$853K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	788.41	−0.325%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.783%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0042%	8h	788.88	−0.266%	$6.1M	$18.7M	200x	as long as short
BingX BNB-USDC	+0.0056%	8h	788.38	−0.329%	—	$13.4M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0064%	1h	790.64	−0.043%	$583K	$1.9M	50x	as long as short
Binance BNBUSDT	+0.0067%	8h	788.90	−0.263%	$492.2M	$789.8M	75x	as long as short
MEXC BNB_USDT	+0.0067%	8h	789.10	−0.238%	$80.1M	$12.2M	200x	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	−0.257%	$69.1M	$50.0M	50x	as long as short
Lighter BNB	+0.0096%	1h	788.46	−0.319%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	788.45	−0.320%	$265K	$498K	50x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	788.45	−0.320%	$1.5M	$2.6M	20x
Hyperliquid BNB	+0.0100%	1h	788.97	−0.255%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	788.75	−0.282%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.99	−0.378%	$138.6M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	788.20	−0.352%	$53.3M	$111.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	789.00	−0.251%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	788.20	−0.352%	$35.3M	$56.5M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	788.20	−0.352%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	788.02	−0.375%	$76.3M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	788.87	−0.267%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.11	−0.237%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	790.98	long leg	$4.1M	$74.4M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	789.75	−0.156%	$159K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	788.43	−0.323%	$133K	$952K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	788.51	−0.312%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	789.02	−0.248%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	788.40	−0.327%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	788.96	−0.256%	$8.1M	$9.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0101%	8h	789.23	−0.222%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.94	−0.385%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	788.51	−0.313%	$379K	$110K	10x	as long as short
dYdX BNB-USD	+0.0110%	1h	789.06	−0.243%	$160K	$64K	10x	as long as short
Phoenix BNB	+0.0117%	1h	790.37	−0.078%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0138%	8h	791.19	+0.026%	$3.0M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0183%	8h	789.20	−0.225%	$124K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0188%	8h	789.53	−0.184%	$18.2M	$2.2M	75x	as long as short
01 Exchange BNBUSD	+0.0224%	1h	789.25	−0.219%	$28K	$4K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0264%	1h	788.14	−0.359%	$2.5M	$1.2M	50x	as long as short
Bulk BNB-USD	+0.0296%	1h	791.64	+0.083%	$641K	$9K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	788.69	−0.289%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0326%	1h	788.10	−0.365%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0461%	1h	789.11	−0.237%	$1.1M	$975K	20x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	789.02	−0.248%	$67K	$38K	12x	as long as short