Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against Polymarket Perps−0.032%7-day average −0.027% · 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−$21as in the Price arb table

costs, in and out, $10k−$200.204% of the position

Long on Polymarket Perps Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.045%−$5 · spread now −0.032%, 7d avg −0.027%

Together, before fees−0.046%+ Points / potential airdropNado: Active · farm board−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BNB-USD	802.36	0.0100	pay 0.0013% / 1h	52m 37s	$119K	$874K	10x
Short	Nado BNB-PERP	802.10	0.0100	get 0.0012% / 1h	52m 37s	$1.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Polymarket Perps. 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 Polymarket PerpsbpFee NadobpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → −0.027%: −$0.54
Slippage, 4 orders: −$5.44
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.98
Costs to cover: 0.204%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 25 min ago; Nado: 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 Polymarket Perps live order book, 25 min ago	2.06 bp	6.5 bp −$7	6.7 bp −$67	16.4 bp −$1,638	doesn't fit
Sell Nado live order book, 1 min ago	0.06 bp	3.9 bp −$4	9.4 bp −$94	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 −0.0201% / S +0.0372%	1h	802.98	+0.077%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	803.26	+0.112%	$4K	$1K	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0074%	1h	803.00	+0.080%	$2.6M	$969K	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	802.91	+0.068%	$3.0M	$28.2M	10x	as long as short
StandX BNB-USD	0.0000%	1h	803.92	+0.194%	$869K	$2.9M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	803.05	+0.086%	$9.8M	—	150x	as long as short
Variational Omni BNB	+0.0031%	8h	801.64	−0.090%	$4.2M	$5.4M	—	as long as short
BingX BNB-USDC	+0.0053%	8h	802.61	+0.031%	—	$13.3M	—	as long as short
Bybit BNBUSDT	+0.0066%	8h	802.04	−0.040%	$139.3M	$78.6M	75x	as long as short
Coinbase International BNB-PERP-INTX	+0.0072%	1h	800.72	−0.204%	$607K	$998K	50x	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	802.79	+0.053%	$2.8M	$4.1M	20x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	802.10	−0.032%	$1.4M	$2.7M	20x
Pacifica BNB	+0.0100%	1h	802.85	+0.061%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	802.20	−0.020%	$54.8M	$113.7M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	803.00	+0.080%	$53K	$133K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	802.40	+0.005%	$35.8M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	802.39	+0.004%	$28.1M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	802.06	−0.037%	$79.6M	$27.4M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	803.03	+0.084%	$4.2M	$77.7M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	802.61	+0.031%	$162K	$442K	50x	as long as short
Polymarket Perps BNB-USDlong	+0.0100%	1h	802.36	long leg	$119K	$874K	10x
Orderly PERP_BNB_USDC	+0.0100%	8h	803.05	+0.086%	$388K	$497K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	803.18	+0.102%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	803.86	+0.187%	$13K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	802.90	+0.067%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	803.32	+0.119%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	802.09	−0.033%	$1.9M	$6.4M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	803.36	+0.125%	$386K	$40K	10x	as long as short
Aster BNBUSDT	+0.0104%	8h	803.16	+0.100%	$6.4M	$19.0M	200x	as long as short
Kalshi KXBNBPERP	+0.0113%	8h	803.50	+0.142%	$109K	$2.9M	4.8x	as long as short
Phemex BNBUSDT	+0.0115%	8h	803.64	+0.160%	$70.2M	$51.0M	50x	as long as short
MEXC BNB_USDT	+0.0124%	8h	803.40	+0.130%	$83.5M	$13.5M	200x	as long as short
Binance BNBUSDT	+0.0125%	8h	803.07	+0.089%	$502.3M	$818.3M	75x	as long as short
Phoenix BNB	+0.0127%	1h	803.21	+0.106%	$173K	$36K	10x	as long as short
SoDEX BNB-USD	+0.0231%	1h	803.10	+0.092%	$395K	$1.0M	10x	as long as short
BloFin BNB-USDT	+0.0245%	8h	803.74	+0.172%	$18.2M	$2.6M	75x	as long as short
Hibachi BNB/USDT-P	+0.0248%	1h	802.88	+0.064%	$71K	$49K	12x	as long as short
RISEx BNB/USDC	+0.0258%	1h	802.73	+0.046%	$1.1M	$1.4M	20x	as long as short
Bulk BNB-USD	+0.0289%	1h	801.15	−0.151%	$651K	$20K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0300%	1h	803.47	+0.138%	$1.6M	$165K	25x	as long as short
Hyperliquid BNB	+0.0300%	1h	803.53	+0.146%	$52.0M	$21.3M	10x	as long as short
Injective BNB/USDC PERP	+0.0306%	1h	805.09	+0.340%	$19K	$789K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0320%	1h	803.68	+0.165%	$2.7M	$5.7M	40x	as long as short
Reya BNBRUSDPERP	+0.0332%	1h	801.98	−0.048%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0424%	1h	803.18	+0.102%	$28K	$2K	10x	as long as short
dYdX BNB-USD	+0.0496%	1h	802.89	+0.066%	$162K	$62K	10x	as long as short