Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.011%

Price spread now: Aster against Nado+0.095%7-day average +0.093% · 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−$17as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$1 on $10k

Price spread, last 7 days−0.025%−$3 · spread now +0.095%, 7d avg +0.093%

Together, before fees−0.040%+ Points / potential airdropNado: Active · Aster: Stage 5 · 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	Nado BNB-PERP	800.67	0.0100	pay 0.0012% / 1h	26m 26s	$1.4M	$2.8M	20x
Short	Aster BNBUSDT	801.43	0.0099	get 0.0099% / 8h	1h 26m	$6.4M	$19.2M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$0.28
Price spread: +0.095% → +0.093%: $0.14
Slippage, 4 orders: −$2.48
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$17.62
Costs to cover: 0.175%
Break-even: never at this rate

Slippage from Nado: live order book, 2 min ago; Aster: live order book, 2 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, 2 min ago	0.06 bp	4.3 bp −$4	8.6 bp −$86	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	0.62 bp	5.0 bp −$5	6.4 bp −$64	18.2 bp −$1,825	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 −0.0201% / S +0.0372%	1h	800.81	+0.018%	$48K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	801.35	+0.085%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	801.71	+0.130%	$3.0M	$29.6M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	801.50	+0.103%	$158K	$2.9M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	801.64	+0.121%	$866K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	800.86	+0.024%	$9.7M	—	150x	as long as short
Variational Omni BNB	+0.0040%	8h	800.85	+0.022%	$4.1M	$5.3M	—	as long as short
BingX BNB-USDT	+0.0065%	8h	800.92	+0.031%	—	$35.0M	—	as long as short
Bybit BNBUSDT	+0.0079%	8h	800.50	−0.022%	$139.4M	$83.1M	75x	as long as short
Lighter BNB	+0.0096%	1h	800.89	+0.027%	$2.8M	$4.2M	20x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0096%	1h	801.17	+0.062%	$610K	$1.0M	50x	as long as short
Aster BNBUSDTshort	+0.0099%	8h	801.43	+0.095%	$6.4M	$19.2M	200x
Nado BNB-PERPlong	+0.0100%	1h	800.67	long leg	$1.4M	$2.8M	20x
Pacifica BNB	+0.0100%	1h	800.95	+0.035%	$1.2M	$926K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	800.70	+0.003%	$54.8M	$117.4M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	801.10	+0.053%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	800.65	−0.003%	$35.7M	$58.3M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	800.67	0.000%	$28.0M	$10.6M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	800.49	−0.023%	$80.9M	$26.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	801.89	+0.151%	$4.2M	$77.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	801.93	+0.157%	$161K	$441K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	800.77	+0.012%	$121K	$880K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	800.82	+0.018%	$387K	$568K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	801.31	+0.080%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	801.52	+0.106%	$12K	$1.7M	50x	as long as short
HTX BNB-USDT	+0.0100%	8h	801.00	+0.041%	$8.2M	$7.9M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	801.25	+0.072%	$78K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	800.15	−0.065%	$1.8M	$6.1M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	801.21	+0.068%	$385K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0118%	8h	801.80	+0.141%	$83.4M	$13.8M	200x	as long as short
Binance BNBUSDT	+0.0119%	8h	801.41	+0.092%	$503.8M	$829.4M	75x	as long as short
SoDEX BNB-USD	+0.0120%	1h	801.20	+0.066%	$394K	$1.0M	10x	as long as short
Phemex BNBUSDT	+0.0124%	8h	801.53	+0.107%	$70.0M	$51.7M	50x	as long as short
Phoenix BNB	+0.0155%	1h	801.68	+0.126%	$172K	$35K	10x	as long as short
Hibachi BNB/USDT-P	+0.0160%	1h	801.15	+0.060%	$71K	$48K	12x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	801.48	+0.101%	$1.6M	$165K	25x	as long as short
dYdX BNB-USD	+0.0201%	1h	800.59	−0.011%	$161K	$62K	10x	as long as short
Kraken Futures PF_BNBUSD	+0.0206%	1h	800.99	+0.039%	$2.6M	$984K	50x	as long as short
BloFin BNB-USDT	+0.0239%	8h	801.70	+0.128%	$18.4M	$2.6M	75x	as long as short
Hyperliquid BNB	+0.0289%	1h	801.87	+0.150%	$51.9M	$22.3M	10x	as long as short
Injective BNB/USDC PERP	+0.0311%	1h	805.09	+0.552%	$19K	$789K	30x	as long as short
RISEx BNB/USDC	+0.0318%	1h	800.88	+0.027%	$1.1M	$1.4M	20x	as long as short
01 Exchange BNBUSD	+0.0328%	1h	801.35	+0.085%	$28K	$1K	10x	as long as short
Reya BNBRUSDPERP	+0.0333%	1h	800.46	−0.027%	$6K	$3K	40x	as long as short
Bulk BNB-USD	+0.0354%	1h	801.59	+0.114%	$651K	$21K	10x	as long as short
Backpack BNB_USDC_PERP	+0.0657%	1h	801.81	+0.142%	$2.7M	$5.7M	40x	as long as short