BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0616%/8h= +67.4% APRnext payment +$0.77 per $10,000 · paid last 24h +0.032%

Price spread now: Backpack against Nado+0.143%7-day average +0.129% · 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−$20as in the Price arb table

costs, in and out, $10k−$220.217% of the position

Long on Nado Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.035%+$3 on $10k

Price spread, last 7 days−0.192%−$19 · spread now +0.143%, 7d avg +0.129%

Together, before fees−0.157%+ Points / potential airdropNado: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.129%, so right now this pair is about funding alone: +$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.035% in total (about 4.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.77 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	Nado BNB-PERP	804.97	0.0100	pay 0.0012% / 1h	51m 33s	$1.5M	$2.8M	20x
Short	Backpack BNB_USDC_PERP	806.12	0.0716	get 0.0089% / 1h	51m 33s	$3.0M	$5.5M	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.143%Rate

Funding earned: $129.35
Price spread: +0.143% → +0.129%: $1.38
Slippage, 4 orders: −$4.66
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $109.07
Costs to cover: 0.217%
Break-even: 1.1 days

Slippage from Nado: live order book, 2 min ago; Backpack: live order book, 3 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, 2 min ago	0.06 bp	4.4 bp −$4	11.7 bp −$117	doesn't fit	doesn't fit
Sell Backpack live order book, 3 min ago	0.06 bp	7.4 bp −$7	9.5 bp −$95	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 −0.0195% / S +0.0371%	1h	804.98	+0.002%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	805.32	+0.044%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	806.78	+0.225%	$3.0M	$29.4M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.70	+0.091%	$107K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	805.15	+0.023%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.90	−0.008%	$9.8M	—	150x	as long as short
Hibachi BNB/USDT-P	+0.0040%	1h	804.97	0.000%	$71K	$48K	12x	as long as short
Variational Omni BNB	+0.0044%	8h	805.28	+0.039%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDC	+0.0056%	8h	805.00	+0.004%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0083%	8h	804.50	−0.058%	$139.3M	$82.0M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BNB	+0.0096%	1h	805.09	+0.015%	$2.8M	$4.2M	20x	as long as short
Coinbase International BNB-PERP-INTX	+0.0096%	1h	805.76	+0.098%	$608K	$882K	50x	as long as short
Nado BNB-PERPlong	+0.0100%	1h	804.97	long leg	$1.5M	$2.8M	20x
Pacifica BNB	+0.0100%	1h	805.12	+0.019%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.60	−0.046%	$55.1M	$116.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	805.20	+0.029%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.85	−0.015%	$36.2M	$57.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.80	−0.021%	$28.2M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	804.34	−0.078%	$78.6M	$25.0M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.71	+0.092%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	806.32	+0.168%	$162K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	805.34	+0.046%	$116K	$870K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.93	−0.005%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	805.18	+0.026%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.54	+0.071%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	805.17	+0.025%	$8.2M	$7.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	805.53	+0.070%	$79K	$19K	50x	as long as short
Aster BNBUSDT	+0.0101%	8h	805.54	+0.071%	$6.4M	$18.8M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	804.53	−0.055%	$1.9M	$6.0M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	805.25	+0.036%	$387K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0117%	8h	805.70	+0.091%	$84.5M	$13.3M	200x	as long as short
Binance BNBUSDT	+0.0118%	8h	805.44	+0.059%	$520.4M	$805.5M	75x	as long as short
Phemex BNBUSDT	+0.0137%	8h	805.63	+0.082%	$70.3M	$51.8M	50x	as long as short
Hyperliquid BNB	+0.0138%	1h	805.60	+0.079%	$51.8M	$22.0M	10x	as long as short
Phoenix BNB	+0.0155%	1h	805.95	+0.122%	$173K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0155%	1h	805.10	+0.016%	$396K	$1.0M	10x	as long as short
dYdX BNB-USD	+0.0166%	1h	805.13	+0.020%	$162K	$63K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0205%	1h	805.03	+0.008%	$2.5M	$932K	50x	as long as short
BloFin BNB-USDT	+0.0238%	8h	805.07	+0.013%	$18.8M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0274%	1h	805.55	+0.072%	$651K	$14K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	805.53	+0.069%	$1.6M	$165K	25x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.015%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	805.05	+0.010%	$1.1M	$1.4M	20x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	804.99	+0.003%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.56	+0.074%	$28K	$1K	10x	as long as short
Backpack BNB_USDC_PERPshort	+0.0716%	1h	806.12	+0.143%	$3.0M	$5.5M	40x