Funding you earn now, next payment 06:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h −0.004%
Price spread now: Phemex against Nado+0.058%7-day average +0.097% · you sell dearer than you buy
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−$230.225% of the position
Funding, last 3 days (all we have)−0.040%−$4 on $10k
+Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.058%, 7d avg +0.097%
=Together, before fees−0.004%+ Points / potential airdropNado: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.038% cheaper against Nado than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.097%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado BNB-PERP | 788.80 | 0.0100 | pay 0.0012% / 1h | 5m 24s | $1.4M | $2.7M | 20x |
| Short | Phemex BNBUSDT | 789.26 | 0.0061 | get 0.0061% / 8h | 2h 05m | $69.1M | $50.8M | 50x |
Nado BNB-PERP
Phemex BNBUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Nado. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$8.21
- Price spread: +0.058% → +0.097%
- −$3.84
- Slippage, 4 orders
- −$3.52
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$34.57
- Costs to cover
- 0.225%
- Break-even
- never at this rate
Slippage from Nado: live order book, 3 min ago; Phemex: 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 Nado live order book, 3 min ago | 0.06 bp | 3.6 bp −$4 | 8.6 bp −$86 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 1.27 bp | 8.0 bp −$8 | 8.7 bp −$87 | 13.4 bp −$1,342 | 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 | 788.46 | −0.043% | $46K | — | 200x | as long as short |
| Hotstuff BNB-PERP | −0.0080% | 1h | 789.19 | +0.049% | $4K | $42 | 25x | as long as short |
| StandX BNB-USD | 0.0000% | 1h | 789.04 | +0.030% | $851K | $2.9M | 30x | as long as short |
| gTrade (Gains Network) BNB/USD | L +0.0007% / S −0.0007% | 1h | 788.46 | −0.043% | $9.5M | — | 150x | as long as short |
| Injective BNB/USDC PERP | +0.0033% | 1h | 805.09 | +2.065% | $19K | $789K | 30x | as long as short |
| Aster BNBUSDT | +0.0044% | 8h | 789.12 | +0.041% | $6.1M | $19.1M | 200x | as long as short |
| BingX BNB-USDT | +0.0051% | 8h | 788.70 | −0.013% | — | $22.2M | — | as long as short |
| Phemex BNBUSDTshort | +0.0061% | 8h | 789.26 | +0.058% | $69.1M | $50.8M | 50x | |
| MEXC BNB_USDT | +0.0067% | 8h | 789.40 | +0.076% | $81.0M | $12.1M | 200x | as long as short |
| Binance BNBUSDT | +0.0067% | 8h | 789.08 | +0.035% | $491.2M | $815.8M | 75x | as long as short |
GMX BNB/USD [WBTC.b-USDC]
Hotstuff BNB-PERP
StandX BNB-USD
gTrade (Gains Network) BNB/USD
Injective BNB/USDC PERP
Aster BNBUSDT
BingX BNB-USDT
MEXC BNB_USDT
Binance BNBUSDTShow all 46 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_BNBUSD | +0.0069% | 1h | 788.55 | −0.032% | $2.5M | $1.2M | 50x | as long as short |
| Coinbase International BNB-PERP-INTX | +0.0080% | 1h | 788.38 | −0.053% | $569K | $1.9M | 50x | as long as short |
| Lighter BNB | +0.0096% | 1h | 788.77 | −0.004% | $2.7M | $3.8M | 20x | as long as short |
| Orderly PERP_BNB_USDC | +0.0100% | 8h | 788.67 | −0.016% | $265K | $490K | 50x | as long as short |
| Nado BNB-PERPlong | +0.0100% | 1h | 788.80 | long leg | $1.4M | $2.7M | 20x | |
| Hyperliquid BNB | +0.0100% | 1h | 789.26 | +0.058% | $51.7M | $17.6M | 10x | as long as short |
| Pacifica BNB | +0.0100% | 1h | 788.90 | +0.013% | $1.2M | $933K | 20x | as long as short |
| Bybit BNBUSDT | +0.0100% | 8h | 788.50 | −0.038% | $138.8M | $75.1M | 75x | as long as short |
| OKX BNB-USDT-SWAP | +0.0100% | 8h | 788.40 | −0.051% | $53.6M | $113.3M | 50x | as long as short |
| Arcus BNB-USD | +0.0100% | 1h | 788.80 | 0.000% | $52K | $129K | 10x | as long as short |
| Gate BNB_USDT | +0.0100% | 8h | 788.65 | −0.019% | $36.9M | $59.5M | 75x | as long as short |
| KuCoin BNBUSDTM | +0.0100% | 8h | 788.36 | −0.056% | $27.7M | $10.2M | 75x | as long as short |
| Bitget BNBUSDT | +0.0100% | 8h | 788.36 | −0.056% | $76.3M | $31.1M | 75x | as long as short |
| Backpack BNB_USDC_PERP | +0.0100% | 1h | 789.09 | +0.037% | $2.2M | $6.1M | 40x | as long as short |
| Variational Omni BNB | +0.0100% | 8h | 788.41 | −0.049% | $4.0M | $4.8M | — | as long as short |
| edgeX BNBUSDC | +0.0100% | 4h | 788.54 | −0.034% | $4.1M | $75.9M | 30x | as long as short |
| ApeX Omni BNBUSDT | +0.0100% | 1h | 788.44 | −0.046% | $159K | $437K | 50x | as long as short |
| Polymarket Perps BNB-USD | +0.0100% | 1h | 788.40 | −0.051% | $132K | $951K | 10x | as long as short |
| Derive BNB-PERP | +0.0100% | 1h | 788.88 | +0.010% | $31K | $12K | 10x | as long as short |
| SunX BNB-USDT | +0.0100% | 8h | 789.13 | +0.041% | $12K | $1.5M | 50x | as long as short |
| HTX BNB-USDT | +0.0100% | 8h | 788.22 | −0.074% | $8.0M | $10.1M | 75x | as long as short |
| Paradex BNB-USD-PERP | +0.0101% | 8h | 789.01 | +0.027% | $77K | $17K | 50x | as long as short |
| Extended BNB-USD | +0.0104% | 1h | 788.33 | −0.060% | $1.8M | $6.2M | 50x | as long as short |
| Aevo BNB-PERP | +0.0104% | 1h | 788.68 | −0.015% | $379K | $110K | 10x | as long as short |
| Phoenix BNB | +0.0107% | 1h | 787.87 | −0.118% | $169K | $35K | 10x | as long as short |
| SoDEX BNB-USD | +0.0122% | 1h | 788.80 | 0.000% | $388K | $989K | 10x | as long as short |
| dYdX BNB-USD | +0.0136% | 1h | 788.46 | −0.043% | $160K | $62K | 10x | as long as short |
| Kalshi KXBNBPERP | +0.0140% | 8h | 789.00 | +0.025% | $163K | $2.7M | 4.8x | as long as short |
| BloFin BNB-USDT | +0.0187% | 8h | 788.82 | +0.003% | $17.6M | $2.2M | 75x | as long as short |
| Deribit BNB_USDC-PERPETUAL | +0.0200% | 1h | 789.04 | +0.030% | $1.5M | $143K | 25x | as long as short |
| GRVT BNB_USDT_Perp | +0.0224% | 8h | 788.87 | +0.009% | $2.9M | $29.5M | 10x | as long as short |
| 01 Exchange BNBUSD | +0.0312% | 1h | 789.16 | +0.046% | $28K | $4K | 10x | as long as short |
| Reya BNBRUSDPERP | +0.0323% | 1h | 788.30 | −0.063% | $6K | $3K | 40x | as long as short |
| Bulk BNB-USD | +0.0378% | 1h | 788.15 | −0.083% | $639K | $4K | 10x | as long as short |
| RISEx BNB/USDC | +0.0432% | 1h | 788.84 | +0.005% | $1.1M | $902K | 20x | as long as short |
| Hibachi BNB/USDT-P | +0.0560% | 1h | 788.09 | −0.090% | $67K | $39K | 12x | as long as short |
Kraken Futures PF_BNBUSD
Coinbase International BNB-PERP-INTX
Lighter BNB
Orderly PERP_BNB_USDC
Hyperliquid BNB
Pacifica BNB
Bybit BNBUSDT
OKX BNB-USDT-SWAP
Arcus BNB-USD
Gate BNB_USDT
KuCoin BNBUSDTM
Bitget BNBUSDT
Backpack BNB_USDC_PERP
Variational Omni BNB
edgeX BNBUSDC
ApeX Omni BNBUSDT
Polymarket Perps BNB-USD
Derive BNB-PERP
SunX BNB-USDT
HTX BNB-USDT
Paradex BNB-USD-PERP
Extended BNB-USD
Aevo BNB-PERP
Phoenix BNB
SoDEX BNB-USD
dYdX BNB-USD
Kalshi KXBNBPERP
BloFin BNB-USDT
Deribit BNB_USDC-PERPETUAL
GRVT BNB_USDT_Perp
01 Exchange BNBUSD
Reya BNBRUSDPERP
Bulk BNB-USD
RISEx BNB/USDC
Hibachi BNB/USDT-P