Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h −0.003%

Price spread now: Bybit against Nado−0.026%7-day average −0.022% · 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−$23as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$4 on $10k

Price spread, last 7 days−0.015%−$2 · spread now −0.026%, 7d avg −0.022%

Together, before fees−0.060%+ Points / potential airdropNado: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado BNB-PERP	803.91	0.0100	pay 0.0012% / 1h	6m 22s	$1.5M	$2.8M	20x
Short	Bybit BNBUSDT	803.70	0.0080	get 0.0080% / 8h	2h 06m	$139.5M	$81.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$4.16
Price spread: −0.026% → −0.022%: −$0.34
Slippage, 4 orders: −$4.59
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.09
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from Nado: live order book, 3 min ago; Bybit: 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 Nado live order book, 3 min ago	0.06 bp	3.7 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.62 bp	8.4 bp −$8	11.3 bp −$113	29.5 bp −$2,947	163.1 bp −$81.6K

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 −0.0195% / S +0.0371%	1h	804.06	+0.019%	$49K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	804.60	+0.086%	$4K	$1K	25x	as long as short
GRVT BNB_USDT_Perp	0.0000%	8h	805.17	+0.158%	$3.0M	$29.5M	10x	as long as short
Kalshi KXBNBPERP	0.0000%	8h	805.10	+0.148%	$114K	$2.5M	4.8x	as long as short
StandX BNB-USD	0.0000%	1h	804.76	+0.106%	$870K	$2.8M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0008% / S −0.0007%	1h	804.10	+0.024%	$9.8M	—	150x	as long as short
Kraken Futures PF_BNBUSD	+0.0038%	1h	804.15	+0.030%	$2.5M	$919K	50x	as long as short
Variational Omni BNB	+0.0049%	8h	804.63	+0.090%	$4.1M	$5.4M	—	as long as short
BingX BNB-USDT	+0.0056%	8h	804.21	+0.038%	—	$34.5M	—	as long as short
Bybit BNBUSDTshort	+0.0080%	8h	803.70	−0.026%	$139.5M	$81.7M	75x

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BNB-PERP-INTX	+0.0088%	1h	805.15	+0.155%	$608K	$881K	50x	as long as short
Lighter BNB	+0.0096%	1h	804.49	+0.072%	$2.8M	$4.2M	20x	as long as short
Aster BNBUSDT	+0.0098%	8h	804.84	+0.116%	$6.4M	$18.8M	200x	as long as short
Nado BNB-PERPlong	+0.0100%	1h	803.91	long leg	$1.5M	$2.8M	20x
Pacifica BNB	+0.0100%	1h	804.45	+0.067%	$1.2M	$924K	20x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	804.00	+0.012%	$55.1M	$116.0M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	804.60	+0.086%	$53K	$170K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	804.00	+0.012%	$36.1M	$59.2M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	804.01	+0.013%	$28.1M	$10.5M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	803.86	−0.006%	$78.9M	$24.8M	75x	as long as short
edgeX BNBUSDC	+0.0100%	4h	805.38	+0.183%	$4.2M	$76.4M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	804.81	+0.112%	$159K	$436K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	804.08	+0.021%	$116K	$873K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	804.16	+0.031%	$389K	$592K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	804.58	+0.084%	$32K	$5K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	805.05	+0.143%	$13K	$1.7M	50x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0100%	1h	804.85	+0.117%	$1.6M	$165K	25x	as long as short
HTX BNB-USDT	+0.0100%	8h	804.90	+0.124%	$8.2M	$7.5M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	804.98	+0.133%	$79K	$19K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	803.81	−0.013%	$1.9M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	804.49	+0.073%	$386K	$40K	10x	as long as short
MEXC BNB_USDT	+0.0115%	8h	805.00	+0.136%	$84.5M	$13.7M	200x	as long as short
Binance BNBUSDT	+0.0115%	8h	804.75	+0.105%	$519.9M	$805.6M	75x	as long as short
Phoenix BNB	+0.0125%	1h	805.62	+0.213%	$173K	$35K	10x	as long as short
Phemex BNBUSDT	+0.0137%	8h	804.88	+0.121%	$70.2M	$51.8M	50x	as long as short
SoDEX BNB-USD	+0.0191%	1h	804.30	+0.049%	$396K	$1.0M	10x	as long as short
Hyperliquid BNB	+0.0203%	1h	804.78	+0.109%	$51.8M	$22.0M	10x	as long as short
RISEx BNB/USDC	+0.0209%	1h	804.54	+0.079%	$1.1M	$1.4M	20x	as long as short
dYdX BNB-USD	+0.0235%	1h	804.12	+0.026%	$170K	$55K	10x	as long as short
BloFin BNB-USDT	+0.0235%	8h	805.16	+0.156%	$18.9M	$3.1M	75x	as long as short
Bulk BNB-USD	+0.0258%	1h	805.37	+0.182%	$651K	$14K	10x	as long as short
Hibachi BNB/USDT-P	+0.0264%	1h	804.72	+0.101%	$71K	$48K	12x	as long as short
Reya BNBRUSDPERP	+0.0334%	1h	803.80	−0.014%	$6K	$3K	40x	as long as short
01 Exchange BNBUSD	+0.0344%	1h	805.02	+0.138%	$28K	$1K	10x	as long as short
Injective BNB/USDC PERP	+0.0353%	1h	804.89	+0.122%	$19K	$627K	30x	as long as short
Backpack BNB_USDC_PERP	+0.0650%	1h	805.27	+0.169%	$3.0M	$5.5M	40x	as long as short