Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against edgeX−0.071%7-day average −0.059% · 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−$22as in the Price arb table

costs, in and out, $10k−$210.212% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 7 days+0.048%+$5 · spread now −0.071%, 7d avg −0.059%

Together, before fees+0.044%+ Points / potential airdropedgeX: Active · Nado: Active · farm board+$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BNBUSDC	787.81	0.0100	pay 0.0050% / 4h	2h 49m	$4.1M	$74.6M	30x
Short	Nado BNB-PERP	787.25	0.0100	get 0.0012% / 1h	49m 34s	$1.4M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −0.071%Rate

Funding earned: $0
Price spread: −0.071% → −0.059%: −$1.22
Slippage, 4 orders: −$5.2
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$22.43
Costs to cover: 0.212%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 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

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy edgeX live order book, 5 min ago	2.54 bp	7.0 bp −$7	7.0 bp −$70	11.4 bp −$1,136	doesn't fit
Sell Nado live order book, 4 min ago	0.06 bp	3.6 bp −$4	8.9 bp −$89	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 −0.0192% / S +0.0356%	1h	787.28	−0.067%	$46K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.53	−0.036%	$4K	$42	25x	as long as short
StandX BNB-USD	0.0000%	1h	788.28	+0.059%	$850K	$3.1M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	787.31	−0.064%	$9.5M	—	150x	as long as short
Aster BNBUSDT	+0.0028%	8h	788.00	+0.024%	$6.1M	$19.0M	200x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.193%	$19K	$789K	30x	as long as short
BingX BNB-USDT	+0.0039%	8h	787.45	−0.046%	—	$22.2M	—	as long as short
MEXC BNB_USDT	+0.0050%	8h	788.20	+0.049%	$79.9M	$11.8M	200x	as long as short
Binance BNBUSDT	+0.0051%	8h	788.00	+0.024%	$490.9M	$804.5M	75x	as long as short
Phemex BNBUSDT	+0.0055%	8h	787.59	−0.028%	$68.9M	$50.8M	50x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BNBUSD	+0.0069%	1h	786.98	−0.106%	$2.5M	$1.2M	50x	as long as short
dYdX BNB-USD	+0.0071%	1h	787.06	−0.096%	$159K	$61K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0080%	1h	787.46	−0.045%	$578K	$1.9M	50x	as long as short
Lighter BNB	+0.0096%	1h	787.40	−0.053%	$2.7M	$3.8M	20x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	787.23	−0.074%	$265K	$490K	50x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	787.25	−0.071%	$1.4M	$2.7M	20x
Hyperliquid BNB	+0.0100%	1h	787.69	−0.015%	$51.7M	$17.4M	10x	as long as short
Pacifica BNB	+0.0100%	1h	787.49	−0.040%	$1.2M	$933K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	787.31	−0.064%	$138.3M	$74.1M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	787.20	−0.078%	$53.4M	$111.9M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	787.40	−0.052%	$52K	$134K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	787.25	−0.071%	$36.1M	$57.8M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	787.08	−0.093%	$27.6M	$10.3M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	787.04	−0.098%	$76.2M	$30.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	787.39	−0.054%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	787.11	−0.089%	$4.1M	$4.6M	—	as long as short
edgeX BNBUSDClong	+0.0100%	4h	787.81	long leg	$4.1M	$74.6M	30x
ApeX Omni BNBUSDT	+0.0100%	1h	787.86	+0.006%	$159K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	787.25	−0.071%	$132K	$953K	10x	as long as short
Derive BNB-PERP	+0.0100%	1h	787.39	−0.054%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	788.14	+0.042%	$12K	$1.5M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	787.10	−0.090%	$8.1M	$9.8M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	787.70	−0.014%	$77K	$17K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	787.03	−0.099%	$1.8M	$6.3M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	787.29	−0.066%	$378K	$110K	10x	as long as short
Phoenix BNB	+0.0107%	1h	787.34	−0.060%	$169K	$35K	10x	as long as short
SoDEX BNB-USD	+0.0127%	1h	787.30	−0.065%	$387K	$997K	10x	as long as short
Kalshi KXBNBPERP	+0.0131%	8h	787.90	+0.011%	$122K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0171%	8h	787.85	+0.005%	$17.7M	$2.2M	75x	as long as short
GRVT BNB_USDT_Perp	+0.0198%	8h	788.06	+0.031%	$2.9M	$29.2M	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	787.63	−0.024%	$1.5M	$143K	25x	as long as short
Bulk BNB-USD	+0.0260%	1h	788.17	+0.046%	$639K	$10K	10x	as long as short
01 Exchange BNBUSD	+0.0320%	1h	787.92	+0.014%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0324%	1h	787.10	−0.090%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0432%	1h	787.58	−0.030%	$1.1M	$908K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	787.74	−0.009%	$67K	$39K	12x	as long as short