Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.003%

Price spread now: Nado against Binance−0.177%7-day average −0.094% · 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−$27as in the Price arb table

costs, in and out, $10k−$190.192% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days+0.052%+$5 · spread now −0.177%, 7d avg −0.094%

Together, before fees+0.065%+ Points / potential airdropNado: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.083% cheaper against Binance than usual: you would sell low and buy high (spread −0.177% now, against its 7-day average of −0.094%). If the spread goes back, that is −$8 on $10k: about 4.3 days of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.013% in total) that is about 22 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BNBUSDT	785.29	0.0036	pay 0.0036% / 8h	7h 25m	$487.6M	$807.0M	75x
Short	Nado BNB-PERP	783.90	0.0100	get 0.0012% / 1h	25m 52s	$1.4M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now −0.177%Rate

Funding earned: $13.42
Price spread: −0.177% → −0.094%: −$8.26
Slippage, 4 orders: −$2.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$14.08
Costs to cover: 0.192%
Break-even: 14.3 days

Slippage from Binance: live order book, 3 min ago; Nado: live order book, 3 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 Binance live order book, 3 min ago	0.06 bp	5.1 bp −$5	6.0 bp −$60	16.6 bp −$1,665	doesn't fit
Sell Nado live order book, 3 min ago	0.06 bp	3.6 bp −$4	8.3 bp −$83	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 −0.0166% / S +0.0337%	1h	783.80	−0.190%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	784.72	−0.072%	$4K	—	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0021%	1h	783.96	−0.170%	$2.5M	$1.2M	50x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	784.92	−0.047%	$3.0M	$27.3M	10x	as long as short
StandX BNB-USD	0.0000%	1h	785.05	−0.030%	$847K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	783.88	−0.180%	$9.4M	—	150x	as long as short
Aster BNBUSDT	+0.0018%	8h	785.14	−0.019%	$5.9M	$18.2M	200x	as long as short
BingX BNB-USDC	+0.0029%	8h	784.62	−0.085%	—	$13.4M	—	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.522%	$19K	$789K	30x	as long as short
MEXC BNB_USDT	+0.0036%	8h	785.90	+0.078%	$82.3M	$12.2M	200x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BNBUSDTlong	+0.0036%	8h	785.29	long leg	$487.6M	$807.0M	75x
Lighter BNB	+0.0096%	1h	784.01	−0.163%	$2.7M	$3.7M	20x	as long as short
Nado BNB-PERPshort	+0.0100%	1h	783.90	−0.177%	$1.4M	$2.6M	20x
Hyperliquid BNB	+0.0100%	1h	784.41	−0.112%	$51.4M	$17.6M	10x	as long as short
Pacifica BNB	+0.0100%	1h	784.39	−0.115%	$1.2M	$937K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	784.63	−0.084%	$138.2M	$73.0M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	784.60	−0.088%	$53.3M	$110.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	784.20	−0.139%	$52K	$125K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	784.70	−0.075%	$39.4M	$55.9M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	783.66	−0.207%	$27.7M	$9.9M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	784.04	−0.159%	$75.2M	$32.3M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	784.33	−0.122%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	784.02	−0.162%	$4.2M	$5.0M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	784.76	−0.067%	$4.1M	$76.3M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	784.99	−0.038%	$158K	$439K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	784.15	−0.145%	$131K	$922K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	783.98	−0.167%	$264K	$358K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	784.27	−0.130%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	784.45	−0.107%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	784.10	−0.151%	$386K	$941K	10x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	784.40	−0.114%	$1.5M	$141K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	784.41	−0.112%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	784.59	−0.090%	$88K	$42K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	784.03	−0.161%	$1.8M	$5.8M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	783.88	−0.179%	$377K	$110K	10x	as long as short
Kalshi KXBNBPERP	+0.0108%	8h	785.40	+0.014%	$159K	$2.6M	4.8x	as long as short
Coinbase International BNB-PERP-INTX	+0.0120%	1h	785.76	+0.060%	$547K	$1.9M	50x	as long as short
Phoenix BNB	+0.0120%	1h	784.43	−0.109%	$158K	$38K	10x	as long as short
BloFin BNB-USDT	+0.0144%	8h	784.85	−0.056%	$17.8M	$2.2M	75x	as long as short
dYdX BNB-USD	+0.0161%	1h	784.13	−0.148%	$157K	$65K	10x	as long as short
Bulk BNB-USD	+0.0200%	1h	784.80	−0.062%	$636K	$630	10x	as long as short
Phemex BNBUSDT	+0.0227%	8h	784.63	−0.084%	$68.3M	$51.0M	50x	as long as short
01 Exchange BNBUSD	+0.0232%	1h	784.48	−0.103%	$28K	$3K	10x	as long as short
Reya BNBRUSDPERP	+0.0319%	1h	783.80	−0.189%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0355%	1h	784.32	−0.124%	$1.1M	$905K	20x	as long as short
Hibachi BNB/USDT-P	+0.0416%	1h	784.66	−0.081%	$67K	$39K	12x	as long as short