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Funding arb · Price arb /

BNB

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 22:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h −0.002%
Price spread now: Nado against BingX−0.032%7-day average +0.002% · 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−$26as in the Price arb table
costs, in and out, $10k−$220.222% of the position
Long on BingXShort on Nado
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.019%+$2 on $10k
Price spread, last 7 days+0.018%+$2 · spread now −0.032%, 7d avg +0.002%
Together, before fees+0.038%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour
Funding pays, the price is against you. Nado is 0.034% cheaper against BingX than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.002%). If the spread goes back, that is −$3 on $10k: about 2.6 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.019% in total) that is about 5.4 days.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBingX BNB-USDC804.590.0056pay 0.0056% / 8h1h 59m—$13.3M—
ShortNado BNB-PERP804.330.0100get 0.0012% / 1h59m 45s$1.5M$2.8M20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against BingX. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$9.24
Price spread: −0.032% → +0.002%
−$3.37
Slippage, 4 orders
−$5.2
Fee BingX: 5 bp × 2 orders
−$10
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$16.33
Costs to cover
0.222%
Break-even
19.4 days
Slippage from BingX: live order book, 8 min ago; Nado: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy BingX live order book, 8 min ago0.25 bp7.0 bp −$78.0 bp −$8017.6 bp −$1,76554.7 bp −$27.4K
Sell Nado live order book, 4 min ago0.06 bp3.6 bp −$49.0 bp −$90doesn't fitdoesn't fit

BNB on 46 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
GMX BNB/USD [WBTC.b-USDC]L −0.0195% / S +0.0371%1h804.590.000%$49K—200xas long as short
Hotstuff BNB-PERP−0.0080%1h805.08+0.061%$4K$1K25xas long as short
GRVT BNB_USDT_Perp0.0000%8h804.57−0.002%$3.0M$29.5M10xas long as short
Kalshi KXBNBPERP0.0000%8h805.20+0.076%$108K$2.5M4.8xas long as short
StandX BNB-USD0.0000%1h804.71+0.015%$870K$2.8M30xas long as short
gTrade (Gains Network) BNB/USDL +0.0008% / S −0.0007%1h804.65+0.007%$9.8M—150xas long as short
Kraken Futures PF_BNBUSD+0.0038%1h804.53−0.007%$2.5M$928K50xas long as short
Variational Omni BNB+0.0047%8h804.12−0.058%$4.1M$5.3M—as long as short
BingX BNB-USDClong+0.0056%8h804.59long leg—$13.3M—
Bybit BNBUSDT+0.0079%8h803.80−0.098%$139.5M$81.7M75xas long as short
Show all 46 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Coinbase International BNB-PERP-INTX+0.0088%1h804.54−0.006%$607K$880K50xas long as short
Lighter BNB+0.0096%1h804.49−0.012%$2.8M$4.2M20xas long as short
Nado BNB-PERPshort+0.0100%1h804.33−0.032%$1.5M$2.8M20x
Pacifica BNB+0.0100%1h804.83+0.030%$1.2M$924K20xas long as short
OKX BNB-USDT-SWAP+0.0100%8h804.00−0.073%$55.1M$116.0M50xas long as short
Arcus BNB-USD+0.0100%1h804.90+0.039%$53K$170K10xas long as short
Gate BNB_USDT+0.0100%8h804.05−0.067%$36.1M$59.3M75xas long as short
KuCoin BNBUSDTM+0.0100%8h804.08−0.063%$28.1M$10.5M75xas long as short
Bitget BNBUSDT+0.0100%8h803.73−0.107%$78.9M$24.8M75xas long as short
edgeX BNBUSDC+0.0100%4h805.31+0.089%$4.2M$76.5M30xas long as short
ApeX Omni BNBUSDT+0.0100%1h804.70+0.014%$159K$436K50xas long as short
Polymarket Perps BNB-USD+0.0100%1h804.60+0.001%$116K$872K10xas long as short
Orderly PERP_BNB_USDC+0.0100%8h804.68+0.011%$389K$592K50xas long as short
Derive BNB-PERP+0.0100%1h804.89+0.037%$32K$5K10xas long as short
SunX BNB-USDT+0.0100%8h805.33+0.092%$13K$1.7M50xas long as short
Deribit BNB_USDC-PERPETUAL+0.0100%1h805.19+0.075%$1.6M$165K25xas long as short
HTX BNB-USDT+0.0100%8h804.71+0.014%$8.2M$7.5M75xas long as short
Paradex BNB-USD-PERP+0.0100%8h805.29+0.087%$79K$19K50xas long as short
Aster BNBUSDT+0.0100%8h804.90+0.039%$6.4M$18.9M200xas long as short
Extended BNB-USD+0.0104%1h803.85−0.092%$1.9M$5.9M50xas long as short
Aevo BNB-PERP+0.0104%1h804.87+0.035%$387K$40K10xas long as short
MEXC BNB_USDT+0.0116%8h805.00+0.051%$84.5M$13.7M200xas long as short
Binance BNBUSDT+0.0117%8h804.78+0.024%$519.7M$806.4M75xas long as short
Phoenix BNB+0.0125%1h804.66+0.009%$173K$35K10xas long as short
Hyperliquid BNB+0.0127%1h804.75+0.021%$51.8M$22.0M10xas long as short
Phemex BNBUSDT+0.0138%8h805.10+0.063%$70.3M$51.9M50xas long as short
SoDEX BNB-USD+0.0193%1h804.70+0.014%$396K$1.0M10xas long as short
RISEx BNB/USDC+0.0209%1h804.91+0.040%$1.1M$1.4M20xas long as short
dYdX BNB-USD+0.0227%1h804.85+0.032%$170K$55K10xas long as short
BloFin BNB-USDT+0.0236%8h805.36+0.096%$18.9M$3.1M75xas long as short
Hibachi BNB/USDT-P+0.0256%1h804.83+0.030%$71K$48K12xas long as short
Bulk BNB-USD+0.0273%1h805.26+0.083%$650K$14K10xas long as short
Reya BNBRUSDPERP+0.0334%1h804.35−0.030%$6K$3K40xas long as short
01 Exchange BNBUSD+0.0352%1h805.56+0.121%$28K$1K10xas long as short
Injective BNB/USDC PERP+0.0353%1h804.89+0.037%$19K$627K30xas long as short
Backpack BNB_USDC_PERP+0.0656%1h805.45+0.107%$3.0M$5.5M40xas long as short