BNB

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0224%/8h= −24.5% APRnext payment −$0.28 per $10,000 · paid last 24h +0.007%

Price spread now: Kraken Futures against Nado−0.094%7-day average +0.023% · 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−$42as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on Nado Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.094%, 7d avg +0.023%

Together, before fees+0.012%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Kraken Futures is 0.117% cheaper against Nado than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.011% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.28 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	790.10	0.0100	pay 0.0012% / 1h	52m 06s	$1.5M	$2.6M	20x
Short	Kraken Futures PF_BNBUSD	789.36	−0.0124	pay 0.0016% / 1h	52m 06s	$2.5M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$47.05
Price spread: −0.094% → +0.023%: −$11.67
Slippage, 4 orders: −$13.33
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$89.05
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from Nado: live order book, 2 min ago; Kraken Futures: 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, 2 min ago	0.06 bp	3.7 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	3.42 bp	10.8 bp −$11	16.3 bp −$163	36.9 bp −$3,685	115.8 bp −$57.9K

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 −0.0191% / S +0.0355%	1h	789.65	−0.057%	$46K	—	200x	as long as short
Kraken Futures PF_BNBUSDshort	−0.0124%	1h	789.36	−0.094%	$2.5M	$1.2M	50x
Hotstuff BNB-PERP	−0.0080%	1h	790.37	+0.034%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	790.06	−0.005%	$852K	$3.2M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	789.80	−0.038%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+1.897%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0037%	8h	790.06	−0.005%	$6.1M	$18.8M	200x	as long as short
BingX BNB-USDC	+0.0046%	8h	789.88	−0.028%	—	$13.4M	—	as long as short
MEXC BNB_USDT	+0.0057%	8h	790.50	+0.051%	$80.1M	$12.0M	200x	as long as short
Binance BNBUSDT	+0.0057%	8h	790.00	−0.013%	$493.4M	$795.4M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0060%	8h	790.19	+0.011%	$69.1M	$50.3M	50x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	790.26	+0.020%	$580K	$1.9M	50x	as long as short
Phoenix BNB	+0.0092%	1h	790.40	+0.038%	$170K	$35K	10x	as long as short
Lighter BNB	+0.0096%	1h	789.71	−0.049%	$2.8M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	789.54	−0.071%	$266K	$492K	50x	as long as short
Nado BNB-PERPlong	+0.0100%	1h	790.10	long leg	$1.5M	$2.6M	20x
Hyperliquid BNB	+0.0100%	1h	790.13	+0.004%	$51.8M	$17.5M	10x	as long as short
Pacifica BNB	+0.0100%	1h	790.43	+0.042%	$1.2M	$931K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	789.42	−0.086%	$138.9M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	789.40	−0.089%	$53.4M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	790.40	+0.038%	$52K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	789.50	−0.076%	$35.8M	$56.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	789.48	−0.078%	$28.1M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	789.20	−0.114%	$76.4M	$30.4M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	789.86	−0.030%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	789.31	−0.100%	$4.1M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	790.17	+0.009%	$4.1M	$73.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	790.54	+0.056%	$159K	$440K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	790.10	0.000%	$130K	$954K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	789.66	−0.056%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	790.86	+0.096%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	789.70	−0.051%	$388K	$1.0M	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	790.04	−0.008%	$8.1M	$9.6M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	790.65	+0.070%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	789.13	−0.123%	$1.9M	$6.2M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	789.47	−0.080%	$379K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0104%	8h	790.30	+0.025%	$135K	$2.7M	4.8x	as long as short
dYdX BNB-USD	+0.0124%	1h	789.96	−0.018%	$160K	$64K	10x	as long as short
GRVT BNB_USDT_Perp	+0.0163%	8h	789.64	−0.059%	$2.9M	$28.5M	10x	as long as short
BloFin BNB-USDT	+0.0177%	8h	790.49	+0.049%	$18.1M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	789.96	−0.018%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0234%	1h	790.66	+0.071%	$640K	$9K	10x	as long as short
01 Exchange BNBUSD	+0.0264%	1h	790.89	+0.100%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0325%	1h	789.65	−0.057%	$6K	$3K	40x	as long as short
Hibachi BNB/USDT-P	+0.0376%	1h	790.08	−0.003%	$67K	$39K	12x	as long as short
RISEx BNB/USDC	+0.0431%	1h	790.63	+0.068%	$1.1M	$892K	20x	as long as short