Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h +0.003%

Price spread now: Binance against Nado+0.017%7-day average +0.093% · 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−$25as in the Price arb table

costs, in and out, $10k−$180.179% of the position

Long on Nado Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days+0.039%+$4 · spread now +0.017%, 7d avg +0.093%

Together, before fees+0.030%+ Points / potential airdropNado: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.075% cheaper against Nado than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado BNB-PERP	794.80	0.0100	pay 0.0012% / 1h	29m 00s	$1.4M	$2.7M	20x
Short	Binance BNBUSDT	794.94	0.0063	get 0.0063% / 8h	6h 29m	$494.6M	$811.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.017%Rate

Funding earned: −$7.75
Price spread: +0.017% → +0.093%: −$7.53
Slippage, 4 orders: −$0.88
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$33.16
Costs to cover: 0.179%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; Binance: live order book, 15 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, 5 min ago	0.06 bp	4.1 bp −$4	9.4 bp −$94	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.06 bp	5.1 bp −$5	6.5 bp −$65	16.4 bp −$1,641	doesn't fit

BNB on 45 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	794.31	−0.062%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSD	−0.0132%	1h	794.04	−0.096%	$2.5M	$1.0M	50x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	794.51	−0.036%	$4K	$239	25x	as long as short
StandX BNB-USD	0.0000%	1h	795.20	+0.050%	$859K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	794.26	−0.068%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0025%	8h	793.33	−0.185%	$4.1M	$4.9M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.295%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0036%	8h	794.96	+0.020%	$6.1M	$19.7M	200x	as long as short
Gate BNB_USDT	+0.0040%	8h	794.25	−0.069%	$35.4M	$55.9M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0044%	8h	793.45	−0.170%	$3.0M	$28.8M	10x	as long as short

Show all 45 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0048%	8h	794.73	−0.009%	$69.5M	$50.7M	50x	as long as short
BingX BNB-USDT	+0.0050%	8h	794.45	−0.044%	—	$35.0M	—	as long as short
Coinbase International BNB-PERP-INTX	+0.0056%	1h	791.17	−0.457%	$607K	$1.1M	50x	as long as short
MEXC BNB_USDT	+0.0063%	8h	795.10	+0.038%	$82.4M	$12.8M	200x	as long as short
Binance BNBUSDTshort	+0.0063%	8h	794.94	+0.017%	$494.6M	$811.5M	75x
dYdX BNB-USD	+0.0064%	1h	794.66	−0.017%	$161K	$63K	10x	as long as short
Phoenix BNB	+0.0088%	1h	793.37	−0.180%	$170K	$36K	10x	as long as short
Lighter BNB	+0.0096%	1h	794.41	−0.049%	$2.8M	$4.0M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	794.13	−0.084%	$384K	$409K	50x	as long as short
Nado BNB-PERPlong	+0.0100%	1h	794.80	long leg	$1.4M	$2.7M	20x
Hyperliquid BNB	+0.0100%	1h	794.90	+0.013%	$52.1M	$19.8M	10x	as long as short
Pacifica BNB	+0.0100%	1h	795.12	+0.040%	$1.2M	$925K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	794.44	−0.045%	$138.8M	$75.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	794.30	−0.063%	$53.2M	$110.5M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	794.90	+0.013%	$52K	$134K	10x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	794.20	−0.075%	$27.7M	$10.1M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	794.39	−0.052%	$77.4M	$28.3M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	794.24	−0.070%	$4.1M	$77.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	794.07	−0.092%	$160K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	794.59	−0.026%	$111K	$886K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	794.41	−0.050%	$32K	$9K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	794.00	−0.101%	$13K	$1.6M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	794.20	−0.075%	$390K	$996K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	793.99	−0.102%	$8.1M	$8.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	795.18	+0.048%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	793.94	−0.108%	$1.7M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	794.17	−0.080%	$381K	$110K	10x	as long as short
RISEx BNB/USDC	+0.0131%	1h	794.90	+0.013%	$1.1M	$1.4M	20x	as long as short
Kalshi KXBNBPERP	+0.0159%	8h	795.10	+0.038%	$112K	$2.7M	4.8x	as long as short
Bulk BNB-USD	+0.0175%	1h	792.60	−0.277%	$642K	$16K	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	795.32	+0.065%	$28K	$2K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	794.73	−0.009%	$1.6M	$160K	25x	as long as short
Reya BNBRUSDPERP	+0.0329%	1h	794.26	−0.068%	$6K	$3K	40x	as long as short
Backpack BNB_USDC_PERP	+0.0392%	1h	795.03	+0.029%	$2.7M	$5.7M	40x	as long as short
Hibachi BNB/USDT-P	+0.0536%	1h	794.30	−0.063%	$68K	$38K	12x	as long as short