Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Nado against Phoenix−0.095%7-day average −0.108% · 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−$32as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.062%−$6 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.095%, 7d avg −0.108%

Together, before fees−0.064%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BNB	786.10	0.0100	pay 0.0012% / 1h	37m 32s	$168K	$35K	10x
Short	Nado BNB-PERP	785.35	0.0100	get 0.0012% / 1h	37m 32s	$1.3M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phoenix. 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 PhoenixbpFee NadobpOrdersPrice spread, now −0.095%Rate

Funding earned: $0.08
Price spread: −0.095% → −0.108%: $1.24
Slippage, 4 orders: −$18.89
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$31.57
Costs to cover: 0.329%
Break-even: 2852.2 days

Slippage from Phoenix: live order book, 59 min ago; Nado: live order book, 6 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 Phoenix live order book, 59 min ago	1.02 bp	12.4 bp −$12	50.9 bp −$509	doesn't fit	doesn't fit
Sell Nado live order book, 6 min ago	0.06 bp	4.0 bp −$4	7.8 bp −$78	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 −0.0168% / S +0.0337%	1h	785.29	−0.103%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	785.91	−0.024%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	785.37	−0.093%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	786.34	+0.031%	$848K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	785.52	−0.074%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.416%	$19K	$789K	30x	as long as short
Aster BNBUSDT	+0.0043%	8h	785.91	−0.024%	$6.0M	$18.9M	200x	as long as short
BingX BNB-USDC	+0.0044%	8h	785.38	−0.092%	—	$13.4M	—	as long as short
Binance BNBUSDT	+0.0054%	8h	785.88	−0.028%	$488.6M	$822.5M	75x	as long as short
MEXC BNB_USDT	+0.0054%	8h	786.50	+0.051%	$80.9M	$11.9M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX BNB-USD	+0.0064%	1h	785.74	−0.045%	$159K	$62K	10x	as long as short
Phemex BNBUSDT	+0.0080%	8h	786.13	+0.004%	$68.7M	$51.5M	50x	as long as short
Lighter BNB	+0.0096%	1h	785.57	−0.068%	$2.7M	$3.8M	20x	as long as short
Phoenix BNBlong	+0.0100%	1h	786.10	long leg	$168K	$35K	10x
Nado BNB-PERPshort	+0.0100%	1h	785.35	−0.095%	$1.3M	$2.7M	20x
Hyperliquid BNB	+0.0100%	1h	785.96	−0.018%	$51.4M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	785.63	−0.060%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	785.40	−0.089%	$138.2M	$74.8M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	785.20	−0.114%	$53.4M	$113.2M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	785.70	−0.051%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	785.50	−0.076%	$38.3M	$57.6M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	785.16	−0.120%	$27.6M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.23	−0.111%	$76.1M	$31.9M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	785.90	−0.025%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	786.30	+0.025%	$4.0M	$4.7M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.25	+0.020%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.94	+0.107%	$158K	$437K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	785.24	−0.109%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	785.57	−0.067%	$264K	$422K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	785.74	−0.045%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.07	−0.004%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	785.70	−0.051%	$386K	$972K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.00	−0.013%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	785.90	−0.025%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.24	−0.109%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	785.58	−0.066%	$377K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	786.02	−0.010%	$556K	$1.9M	50x	as long as short
Kalshi KXBNBPERP	+0.0112%	8h	786.00	−0.013%	$170K	$2.7M	4.8x	as long as short
BloFin BNB-USDT	+0.0175%	8h	786.50	+0.051%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.01	−0.012%	$1.5M	$145K	25x	as long as short
Bulk BNB-USD	+0.0201%	1h	786.50	+0.051%	$637K	$831	10x	as long as short
GRVT BNB_USDT_Perp	+0.0224%	8h	786.60	+0.064%	$2.9M	$28.6M	10x	as long as short
01 Exchange BNBUSD	+0.0256%	1h	785.74	−0.046%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	785.05	−0.134%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	785.79	−0.039%	$1.1M	$906K	20x	as long as short
Hibachi BNB/USDT-P	+0.0464%	1h	785.82	−0.035%	$67K	$39K	12x	as long as short