Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0063%/8h= −6.8% APRpaid last 24h −0.003%

Price spread now: Bybit against Nado−0.006%7-day average −0.022% · 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−$19as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.047%−$5 on $10k

Price spread, last 7 days−0.047%−$5 · spread now −0.006%, 7d avg −0.022%

Together, before fees−0.094%+ Points / potential airdropNado: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$2 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	798.15	0.0100	pay 0.0012% / 1h	7m 50s	$1.4M	$2.7M	20x
Short	Bybit BNBUSDT	798.10	0.0037	get 0.0037% / 8h	7m 50s	$138.5M	$76.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$13.13
Price spread: −0.006% → −0.022%: $1.61
Slippage, 4 orders: −$2.72
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$32.24
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Bybit: 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 Nado live order book, 1 min ago	0.06 bp	4.1 bp −$4	9.8 bp −$98	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.63 bp	6.9 bp −$7	9.2 bp −$92	26.9 bp −$2,691	119.6 bp −$59.8K

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 −0.0201% / S +0.0372%	1h	798.59	+0.055%	$47K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	798.54	+0.049%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	798.47	+0.040%	$2.5M	$974K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	798.45	+0.037%	$3.0M	$27.9M	10x	as long as short
StandX BNB-USD	0.0000%	1h	798.90	+0.094%	$863K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	798.56	+0.052%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0008%	8h	797.53	−0.077%	$4.0M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0033%	8h	798.39	+0.030%	—	$13.3M	—	as long as short
Bybit BNBUSDTshort	+0.0037%	8h	798.10	−0.006%	$138.5M	$76.8M	75x
Coinbase International BNB-PERP-INTX	+0.0072%	1h	798.14	−0.001%	$601K	$984K	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BNBUSDT	+0.0080%	8h	798.77	+0.078%	$6.2M	$19.1M	200x	as long as short
Lighter BNB	+0.0096%	1h	798.51	+0.045%	$2.8M	$4.1M	20x	as long as short
Phemex BNBUSDT	+0.0097%	8h	799.03	+0.110%	$69.9M	$50.6M	50x	as long as short
Nado BNB-PERPlong	+0.0100%	1h	798.15	long leg	$1.4M	$2.7M	20x
Pacifica BNB	+0.0100%	1h	798.40	+0.031%	$1.2M	$925K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	798.10	−0.006%	$54.3M	$112.6M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	798.50	+0.044%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	798.15	0.000%	$35.7M	$58.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	798.48	+0.041%	$28.0M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	798.25	+0.013%	$79.0M	$27.5M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	798.97	+0.103%	$4.1M	$76.2M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	799.19	+0.130%	$161K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	798.38	+0.029%	$116K	$874K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	798.41	+0.033%	$386K	$494K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	798.67	+0.065%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	799.08	+0.116%	$13K	$1.7M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	798.80	+0.081%	$393K	$1.0M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	798.97	+0.103%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	798.43	+0.035%	$8.2M	$8.1M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	798.79	+0.080%	$78K	$19K	50x	as long as short
Binance BNBUSDT	+0.0101%	8h	798.76	+0.076%	$497.5M	$817.7M	75x	as long as short
MEXC BNB_USDT	+0.0102%	8h	799.20	+0.132%	$83.0M	$13.6M	200x	as long as short
Extended BNB-USD	+0.0104%	1h	798.14	−0.001%	$1.7M	$6.5M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	798.73	+0.073%	$384K	$40K	10x	as long as short
Phoenix BNB	+0.0127%	1h	799.20	+0.132%	$172K	$36K	10x	as long as short
Kalshi KXBNBPERP	+0.0145%	8h	799.00	+0.106%	$90K	$2.9M	4.8x	as long as short
Hibachi BNB/USDT-P	+0.0160%	1h	798.58	+0.054%	$70K	$43K	12x	as long as short
Bulk BNB-USD	+0.0191%	1h	798.83	+0.085%	$649K	$17K	10x	as long as short
BloFin BNB-USDT	+0.0223%	8h	798.84	+0.086%	$18.1M	$2.5M	75x	as long as short
Hyperliquid BNB	+0.0234%	1h	799.11	+0.120%	$52.5M	$20.8M	10x	as long as short
RISEx BNB/USDC	+0.0258%	1h	798.28	+0.016%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	799.01	+0.108%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.870%	$19K	$789K	30x	as long as short
Reya BNBRUSDPERP	+0.0331%	1h	798.11	−0.005%	$6K	$3K	40x	as long as short
dYdX BNB-USD	+0.0338%	1h	798.04	−0.014%	$161K	$63K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0343%	1h	799.36	+0.152%	$2.7M	$5.7M	40x	as long as short