Funding arb · Price arb /

BNB

all BNB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h −0.001%

Price spread now: Kalshi against Nado+0.057%7-day average +0.036% · 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−$25as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Nado Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.057%−$6 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.057%, 7d avg +0.036%

Together, before fees−0.080%+ Points / potential airdropNado: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.021% dearer against Nado than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.036%. Mind the row above: over the last 4 days funding on this pair cost −0.057%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado BNB-PERP	786.25	0.0100	pay 0.0012% / 1h	53m 15s	$1.4M	$2.7M	20x
Short	Kalshi KXBNBPERP	786.70	0.0117	get 0.0117% / 8h	4h 53m	$171K	$2.7M	4.8x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now +0.057%Rate

Funding earned: $3.56
Price spread: +0.057% → +0.036%: $2.14
Slippage, 4 orders: −$10.29
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$21.59
Costs to cover: 0.273%
Break-even: 49.5 days

Slippage from Nado: live order book, 1 min ago; Kalshi: live order book, 5 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, 1 min ago	0.06 bp	3.6 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	0.63 bp	14.5 bp −$15	21.0 bp −$210	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 −0.0170% / S +0.0337%	1h	786.24	−0.001%	$43K	—	200x	as long as short
Hotstuff BNB-PERP	−0.0080%	1h	787.17	+0.117%	$4K	$42	25x	as long as short
Kraken Futures PF_BNBUSD	−0.0050%	1h	786.29	+0.005%	$2.5M	$1.2M	50x	as long as short
StandX BNB-USD	0.0000%	1h	787.08	+0.106%	$849K	$2.7M	30x	as long as short
gTrade (Gains Network) BNB/USD	L +0.0007% / S −0.0007%	1h	786.27	+0.003%	$9.5M	—	150x	as long as short
Injective BNB/USDC PERP	+0.0033%	1h	805.09	+2.396%	$19K	$789K	30x	as long as short
BingX BNB-USDC	+0.0046%	8h	786.39	+0.018%	—	$13.4M	—	as long as short
Aster BNBUSDT	+0.0048%	8h	786.90	+0.083%	$6.1M	$18.8M	200x	as long as short
MEXC BNB_USDT	+0.0056%	8h	787.60	+0.172%	$81.1M	$11.9M	200x	as long as short
Binance BNBUSDT	+0.0056%	8h	786.92	+0.085%	$489.0M	$821.6M	75x	as long as short

Show all 46 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex BNBUSDT	+0.0078%	8h	786.89	+0.081%	$68.7M	$51.4M	50x	as long as short
dYdX BNB-USD	+0.0079%	1h	786.61	+0.046%	$159K	$62K	10x	as long as short
Lighter BNB	+0.0096%	1h	786.55	+0.038%	$2.7M	$3.8M	20x	as long as short
Phoenix BNB	+0.0100%	1h	787.08	+0.106%	$169K	$35K	10x	as long as short
Nado BNB-PERPlong	+0.0100%	1h	786.25	long leg	$1.4M	$2.7M	20x
Hyperliquid BNB	+0.0100%	1h	786.98	+0.093%	$51.5M	$17.7M	10x	as long as short
Pacifica BNB	+0.0100%	1h	786.64	+0.049%	$1.2M	$934K	20x	as long as short
Bybit BNBUSDT	+0.0100%	8h	786.30	+0.006%	$138.3M	$74.9M	75x	as long as short
OKX BNB-USDT-SWAP	+0.0100%	8h	786.20	−0.006%	$53.5M	$113.1M	50x	as long as short
Arcus BNB-USD	+0.0100%	1h	786.70	+0.057%	$52K	$129K	10x	as long as short
Gate BNB_USDT	+0.0100%	8h	786.30	+0.006%	$38.1M	$57.4M	75x	as long as short
KuCoin BNBUSDTM	+0.0100%	8h	786.03	−0.028%	$27.7M	$10.2M	75x	as long as short
Bitget BNBUSDT	+0.0100%	8h	785.99	−0.033%	$76.4M	$31.7M	75x	as long as short
Backpack BNB_USDC_PERP	+0.0100%	1h	786.84	+0.075%	$2.2M	$6.1M	40x	as long as short
Variational Omni BNB	+0.0100%	8h	785.70	−0.069%	$4.0M	$4.8M	—	as long as short
edgeX BNBUSDC	+0.0100%	4h	786.65	+0.051%	$4.1M	$76.1M	30x	as long as short
ApeX Omni BNBUSDT	+0.0100%	1h	786.75	+0.064%	$158K	$438K	50x	as long as short
Polymarket Perps BNB-USD	+0.0100%	1h	786.35	+0.013%	$131K	$953K	10x	as long as short
Orderly PERP_BNB_USDC	+0.0100%	8h	786.29	+0.005%	$264K	$449K	50x	as long as short
Derive BNB-PERP	+0.0100%	1h	786.74	+0.062%	$31K	$12K	10x	as long as short
SunX BNB-USDT	+0.0100%	8h	786.78	+0.068%	$12K	$1.5M	50x	as long as short
SoDEX BNB-USD	+0.0100%	1h	786.50	+0.032%	$387K	$976K	10x	as long as short
HTX BNB-USDT	+0.0100%	8h	786.98	+0.093%	$8.0M	$10.3M	75x	as long as short
Paradex BNB-USD-PERP	+0.0100%	8h	786.93	+0.087%	$78K	$18K	50x	as long as short
Extended BNB-USD	+0.0104%	1h	785.99	−0.033%	$1.8M	$5.9M	50x	as long as short
Aevo BNB-PERP	+0.0104%	1h	786.32	+0.009%	$378K	$110K	10x	as long as short
Coinbase International BNB-PERP-INTX	+0.0104%	1h	787.43	+0.150%	$564K	$1.9M	50x	as long as short
Kalshi KXBNBPERPshort	+0.0117%	8h	786.70	+0.057%	$171K	$2.7M	4.8x
BloFin BNB-USDT	+0.0176%	8h	786.80	+0.070%	$17.7M	$2.2M	75x	as long as short
Deribit BNB_USDC-PERPETUAL	+0.0200%	1h	786.73	+0.062%	$1.5M	$145K	25x	as long as short
GRVT BNB_USDT_Perp	+0.0226%	8h	787.01	+0.097%	$2.9M	$28.6M	10x	as long as short
Bulk BNB-USD	+0.0230%	1h	786.88	+0.080%	$638K	$831	10x	as long as short
01 Exchange BNBUSD	+0.0272%	1h	786.97	+0.092%	$28K	$4K	10x	as long as short
Reya BNBRUSDPERP	+0.0321%	1h	786.04	−0.026%	$6K	$3K	40x	as long as short
RISEx BNB/USDC	+0.0350%	1h	786.67	+0.054%	$1.1M	$907K	20x	as long as short
Hibachi BNB/USDT-P	+0.0448%	1h	786.98	+0.093%	$67K	$39K	12x	as long as short