Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.002%

Price spread now: Nado against MEXC−0.100%7-day average −0.200% · 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−$4as in the Price arb table

costs, in and out, $10k−$140.141% of the position

Long on MEXC Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 7 days−0.104%−$10 · spread now −0.100%, 7d avg −0.200%

Together, before fees−0.095%+ Points / potential airdropNado: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.100% dearer against MEXC than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.200%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BNB_USDT	799.30	0.0072	pay 0.0072% / 8h	7h 10m	$83.1M	$13.7M	200x
Short	Nado BNB-PERP	798.50	0.0100	get 0.0012% / 1h	10m 02s	$1.5M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against MEXC. 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 MEXCbpFee NadobpOrdersPrice spread, now −0.100%Rate

Funding earned: $5.88
Price spread: −0.100% → −0.200%: $9.98
Slippage, 4 orders: −$3.08
Fee MEXC: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $1.78
Costs to cover: 0.141%
Break-even: 4.9 days

Slippage from MEXC: 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 MEXC live order book, 4 min ago	0.63 bp	2.6 bp −$3	7.1 bp −$71	25.0 bp −$2,505	41.1 bp −$20.5K
Sell Nado live order book, 4 min ago	0.06 bp	3.6 bp −$4	8.9 bp −$89	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 −0.0159% / S +0.0335%	1h	798.71	−0.074%	$47K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0121%	1h	798.26	−0.131%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	799.13	−0.021%	$4K	$239	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	799.74	+0.055%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	799.03	−0.034%	$863K	$2.9M	30x	as long as short
Phemex BNBUSDT	+0.0002%	8h	798.97	−0.041%	$69.8M	$50.1M	50x	as long as short
Gate BNB_USDT	+0.0007%	8h	798.15	−0.144%	$35.9M	$57.0M	75x	as long as short
Variational Omni BNB	+0.0008%	8h	797.92	−0.173%	$4.1M	$5.1M	—	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.72	−0.073%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+0.724%	$19K	$789K	30x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BNB-USDT	+0.0035%	8h	798.67	−0.079%	—	$35.0M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	799.07	−0.029%	$615K	$1.1M	50x	as long as short
Aster BNBUSDT	+0.0049%	8h	798.98	−0.040%	$6.1M	$19.4M	200x	as long as short
Bybit BNBUSDT	+0.0069%	8h	798.29	−0.126%	$138.6M	$76.0M	75x	as long as short
MEXC BNB_USDTlong	+0.0072%	8h	799.30	long leg	$83.1M	$13.7M	200x
Binance BNBUSDT	+0.0072%	8h	798.96	−0.043%	$496.3M	$808.6M	75x	as long as short
Lighter BNB	+0.0096%	1h	798.51	−0.099%	$2.8M	$4.0M	20x	as long as short
Phoenix BNB	+0.0099%	1h	800.04	+0.093%	$172K	$36K	10x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	798.50	−0.100%	$1.5M	$2.7M	20x
Pacifica BNB	+0.0100%	1h	799.06	−0.030%	$1.2M	$937K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.30	−0.125%	$54.2M	$110.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	799.10	−0.025%	$53K	$127K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.58	−0.090%	$27.9M	$10.0M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.05	−0.156%	$78.2M	$28.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	799.52	+0.028%	$4.2M	$76.9M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.37	+0.009%	$161K	$435K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.64	−0.083%	$113K	$884K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.61	−0.086%	$386K	$459K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.74	−0.070%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.36	+0.007%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.50	−0.100%	$393K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.40	−0.112%	$8.2M	$8.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	799.43	+0.016%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	797.97	−0.167%	$1.8M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.57	−0.091%	$384K	$110K	10x	as long as short
Bulk BNB-USD	+0.0138%	1h	797.80	−0.188%	$648K	$10K	10x	as long as short
RISEx BNB/USDC	+0.0155%	1h	798.80	−0.063%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0162%	8h	798.60	−0.088%	$90K	$2.8M	4.8x	as long as short
dYdX BNB-USD	+0.0190%	1h	798.50	−0.100%	$161K	$63K	10x	as long as short
BloFin BNB-USDT	+0.0193%	8h	798.69	−0.076%	$18.1M	$2.5M	75x	as long as short
01 Exchange BNBUSD	+0.0200%	1h	799.32	+0.003%	$28K	$1K	10x	as long as short
Hyperliquid BNB	+0.0288%	1h	799.31	+0.001%	$53.1M	$20.3M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	799.04	−0.032%	$1.6M	$161K	25x	as long as short
Hibachi BNB/USDT-P	+0.0320%	1h	799.02	−0.035%	$68K	$38K	12x	as long as short
Reya BNBRUSDPERP	+0.0330%	1h	798.46	−0.105%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0430%	1h	799.38	+0.010%	$2.7M	$5.7M	40x	as long as short