Funding arb · Price arb /

BNB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0049%/8h= −5.3% APRpaid last 24h +0.001%

Price spread now: Aster against Nado+0.091%7-day average +0.094% · you sell dearer than you buy

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−$170.167% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days−0.026%−$3 · spread now +0.091%, 7d avg +0.094%

Together, before fees−0.038%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.094%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado BNB-PERP	791.70	0.0100	pay 0.0012% / 1h	17m 20s	$1.5M	$2.6M	20x
Short	Aster BNBUSDT	792.42	0.0051	get 0.0051% / 8h	5h 17m	$6.2M	$18.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$10.21
Price spread: +0.091% → +0.094%: −$0.3
Slippage, 4 orders: −$1.66
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$27.17
Costs to cover: 0.167%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Aster: live order book, 2 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 Nado live order book, 1 min ago	0.06 bp	3.6 bp −$4	8.8 bp −$88	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	0.44 bp	4.5 bp −$5	5.6 bp −$56	18.2 bp −$1,822	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	791.79	+0.011%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	792.23	+0.067%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	792.12	+0.053%	$856K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	791.81	+0.014%	$9.7M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.691%	$19K	$789K	30x	as long as short
Coinbase International BNB-PERP-INTX	+0.0048%	1h	792.03	+0.042%	$615K	$1.8M	50x	as long as short
Aster BNBUSDTshort	+0.0051%	8h	792.42	+0.091%	$6.2M	$18.7M	200x
Phemex BNBUSDT	+0.0052%	8h	792.37	+0.085%	$69.4M	$50.6M	50x	as long as short
BingX BNB-USDT	+0.0061%	8h	791.95	+0.032%	—	$34.3M	—	as long as short
MEXC BNB_USDT	+0.0075%	8h	792.80	+0.139%	$80.5M	$12.5M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDT	+0.0076%	8h	792.33	+0.080%	$495.0M	$793.5M	75x	as long as short
Kraken Futures PF_BNBUSD	+0.0091%	1h	791.63	−0.009%	$2.5M	$1.2M	50x	as long as short
Lighter BNB	+0.0096%	1h	791.95	+0.032%	$2.8M	$3.9M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	791.86	+0.020%	$266K	$498K	50x	as long as short
Nado BNB-PERPlong	+0.0100%	1h	791.70	long leg	$1.5M	$2.6M	20x
Hyperliquid BNB	+0.0100%	1h	792.43	+0.092%	$52.0M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	792.12	+0.053%	$1.2M	$908K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	791.70	0.000%	$139.3M	$77.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	791.70	0.000%	$53.8M	$111.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	792.00	+0.038%	$52K	$130K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	791.75	+0.006%	$35.5M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	791.66	−0.005%	$27.8M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	791.50	−0.025%	$77.0M	$29.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	792.09	+0.049%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	791.30	−0.050%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	791.82	+0.015%	$4.1M	$75.5M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	792.28	+0.073%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	791.68	−0.003%	$134K	$949K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	792.07	+0.047%	$32K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	792.34	+0.080%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	792.00	+0.038%	$389K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	791.71	+0.001%	$8.1M	$9.2M	75x	as long as short
Paradex BNB-USD-PERP	+0.0102%	8h	792.51	+0.102%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	791.44	−0.032%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	791.77	+0.009%	$380K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	792.03	+0.042%	$170K	$35K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0145%	8h	792.09	+0.049%	$2.9M	$28.0M	10x	as long as short
Kalshi KXBNBPERP	+0.0187%	8h	792.30	+0.076%	$83K	$2.8M	4.8x	as long as short
BloFin BNB-USDT	+0.0196%	8h	792.46	+0.096%	$18.2M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0214%	1h	791.84	+0.018%	$160K	$63K	10x	as long as short
01 Exchange BNBUSD	+0.0296%	1h	792.28	+0.073%	$28K	$4K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	792.30	+0.076%	$1.5M	$143K	25x	as long as short
Reya BNBRUSDPERP	+0.0327%	1h	791.49	−0.026%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0361%	1h	792.09	+0.049%	$1.1M	$1.0M	20x	as long as short
Bulk BNB-USD	+0.0403%	1h	790.49	−0.153%	$640K	$6K	10x	as long as short
Hibachi BNB/USDT-P	+0.0592%	1h	791.77	+0.009%	$68K	$38K	12x	as long as short