Funding you earn now, next payment 02:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.03 per $10,000 · paid last 24h −0.027%
Price spread now: Nado against Deribit+0.005%46s7-day average −0.054% · 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—prices read too far apart to compare
costs, in and out, $10k−$140.142% of the position
Funding, last 3 days (all we have)−0.017%−$2 on $10k
+Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.005%, 7d avg −0.054%
=Together, before fees−0.086%+ Points / potential airdropNado: Active · farm board−$9 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.059% dearer against Deribit than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.054%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.6 days. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BTC-PERPETUAL | 85,871.4 | 0.0097 | pay 0.0012% / 1h | 49m 27s | $895.0M | $1.54B | 50x |
| Short | Nado BTC-PERP | 85,876.1 | 0.0074 | get 0.0009% / 1h | 49m 27s | $22.5M | $228.8M | 50x |
Deribit BTC-PERPETUAL
Nado BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Deribit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$4.8
- Price spread: +0.005% → −0.054%
- $5.93
- Slippage, 4 orders
- −$0.17
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$13.05
- Costs to cover
- 0.142%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 5 min ago; Nado: 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 Deribit live order book, 5 min ago | 0.03 bp | 3.5 bp −$4 | 3.5 bp −$35 | 9.4 bp −$942 | 13.9 bp −$6,934 |
| Sell Nado live order book, 5 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.3 bp −$430 | 11.3 bp −$5,671 |
BTC on 56 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,788 | −0.097% | $2.2M | $10.5M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,779 | −0.108% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,852.9 | −0.022% | $365K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0039% | 8h | 85,793.5 | −0.091% | $415.3M | $657.4M | 150x | as long as short |
| ApeX Omni BTCUSDT | −0.0018% | 1h | 85,787.3 | −0.098% | $140.3M | $320.8M | 100x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,880.2 | +0.010% | $16.8M | $20.6M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,883.1 | +0.014% | $513K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,854.1 | −0.020% | $36.7M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,810 | −0.072% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0031% | 8h | 85,848.8 | −0.026% | $498.1M | $1.13B | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
ApeX Omni BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XBTUSDTM | +0.0041% | 8h | 85,860.1 | −0.013% | $894.7M | $757.1M | 125x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,860.2 | −0.013% | $8.1M | $42.6M | 25x | as long as short |
| BingX BTC-USDT | +0.0052% | 8h | 85,842.8 | −0.033% | — | $1.59B | — | as long as short |
| Reya BTCRUSDPERP | +0.0053% | 1h | 85,849.7 | −0.025% | $6.7M | $146.0M | 40x | as long as short |
| HTX BTC-USDT | +0.0057% | 8h | 85,815.9 | −0.065% | $2.28B | $968.8M | 200x | as long as short |
| Bitget BTCUSDT | +0.0066% | 8h | 85,874.3 | +0.003% | $2.95B | $5.13B | 150x | as long as short |
| Nado BTC-PERPshort | +0.0074% | 1h | 85,876.1 | +0.005% | $22.5M | $228.8M | 50x | |
| Aevo BTC-PERP | +0.0080% | 1h | 85,820.9 | −0.059% | $2.5M | $1.8M | 20x | as long as short |
| MEXC BTC_USDT | +0.0082% | 8h | 85,848.9 | −0.026% | $5.09B | $5.66B | 500x | as long as short |
| Binance BTCUSDT | +0.0083% | 8h | 85,842.9 | −0.033% | $9.34B | $24.59B | 150x | as long as short |
| Gate BTC_USDT | +0.0090% | 8h | 85,848.3 | −0.027% | $5.66B | $10.36B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,854.1 | −0.020% | $170.9M | $976.3M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,864.5 | −0.008% | $23.3M | $145.1M | 50x | as long as short |
| GRVT BTC_USDT_Perp | +0.0096% | 8h | 85,757.5 | −0.133% | $215.4M | $162.7M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,856 | −0.018% | $8.4M | $52.5M | 100x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0097% | 1h | 85,871.4 | long leg | $895.0M | $1.54B | 50x | |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,833 | −0.045% | $199K | $7.5M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,870.2 | −0.001% | $3.8M | $8.8M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,942 | +0.082% | $3.76B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,880.9 | +0.011% | $40.9M | $569.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,852.4 | −0.022% | $5.26B | $9.81B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,848.6 | −0.027% | $2.55B | $12.55B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,886 | +0.017% | $3.9M | $17.9M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,840.5 | −0.036% | $7.3M | $98.0M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,888.3 | +0.020% | $579.3M | $92.3M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,858.3 | −0.015% | $35.2M | $162.7M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,782.9 | −0.103% | $155.6M | $556.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,687.9 | −0.214% | $277.7M | $941.4M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,830.1 | −0.048% | $30.4M | $206.6M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,911.4 | +0.047% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,865 | −0.007% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,845 | −0.031% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,832.7 | −0.045% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,876.1 | +0.005% | $186K | $709K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,840.6 | −0.036% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,807.5 | −0.074% | $2.9M | $6.6M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,836 | −0.041% | $60.1M | $338.1M | 40x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,847.6 | −0.028% | $153.8M | $476.8M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,833.6 | −0.044% | $44.9M | $226.4M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,883 | +0.014% | — | $101.6M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,871.1 | 0.000% | $131.7M | $5.26B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0128% | 1h | 85,843.4 | −0.033% | $710K | $8.0M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,864.3 | −0.008% | $189.4M | $969.6M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0152% | 1h | 85,841.3 | −0.035% | $77K | $217K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0203% | 8h | 85,840 | −0.037% | $9.9M | $768.5M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0204% / S −0.0194% | 1h | 85,846 | −0.030% | $13.8M | — | 200x | as long as short |
KuCoin XBTUSDTM
RISEx BTC/USDC
BingX BTC-USDT
Reya BTCRUSDPERP
HTX BTC-USDT
Bitget BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
GRVT BTC_USDT_Perp
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]