Funding you earn now, next payment 08:00 UTC−0.0020%/8h= −2.2% APRnext payment −$0.03 per $10,000 · paid last 24h −0.006%
Price spread now: Nado against Derive−0.010%108s7-day average −0.002% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.022%+$2 on $10k
+Price spread, last 4 days (all we have)+0.030%+$3 · spread now −0.010%, 7d avg −0.002%
=Together, before fees+0.052%+ Points / potential airdropNado: Active · farm board+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 108 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 | Derive BTC-PERP | 85,424.1 | 0.0100 | pay 0.0013% / 1h | 45m 12s | $30.0M | $45.9M | 15x |
| Short | Nado BTC-PERP | 85,415.2 | 0.0080 | get 0.0010% / 1h | 45m 12s | $24.1M | $220.0M | 50x |
Derive BTC-PERP
Nado BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Derive. 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
- −$4.21
- Price spread: −0.010% → −0.002%
- −$0.82
- Slippage, 4 orders
- no order book: not counted
- Fee Derive: 3 bp × 2 orders
- −$6
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$18.03
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Derive: no order-book sample; Nado: live order book, 4 min ago. Net counts fees only.
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 Derive no order-book sample | — | — | — | — | — |
| Sell Nado live order book, 4 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.6 bp −$457 | 10.9 bp −$5,470 |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,420 | −0.005% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,472 | +0.056% | $2.3M | $10.8M | 40x | as long as short |
| KuCoin XBTUSDTM | −0.0027% | 8h | 85,427.5 | +0.004% | $931.7M | $774.6M | 125x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 85,423.5 | −0.001% | $420.9M | $682.7M | 150x | as long as short |
| Aster BTCUSDT | −0.0005% | 8h | 85,419.8 | −0.005% | $512.4M | $1.09B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,437.8 | +0.016% | $348K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,451.6 | +0.032% | $486K | $18.3M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0004% | 1h | 85,444.2 | +0.024% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,431.4 | +0.009% | $36.5M | — | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,433.1 | +0.011% | $185.4M | $952.8M | 100x | as long as short |
Hotstuff BTC-PERP
Phoenix BTC
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
01 Exchange BTCUSD
Perpl BTC
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Kraken Futures PF_XBTUSDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,367 | −0.067% | $338K | $24.6M | 52x | as long as short |
| ApeX Omni BTCUSDT | +0.0067% | 1h | 85,418 | −0.007% | $139.6M | $313.0M | 100x | as long as short |
| BingX BTC-USDT | +0.0068% | 8h | 85,433.5 | +0.011% | — | $1.57B | — | as long as short |
| Nado BTC-PERPshort | +0.0080% | 1h | 85,415.2 | −0.010% | $24.1M | $220.0M | 50x | |
| Bybit BTCUSDT | +0.0084% | 8h | 85,432 | +0.009% | $5.14B | $9.97B | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0090% | 1h | 85,461.2 | +0.043% | $841.6M | $1.65B | 50x | as long as short |
| Bitget BTCUSDT | +0.0091% | 8h | 85,433.7 | +0.011% | $2.98B | $5.17B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,435 | +0.013% | $169.3M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,434.6 | +0.012% | $23.6M | $147.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,423 | −0.001% | $8.4M | $57.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,415.5 | −0.010% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0097% | 8h | 85,424.3 | 0.000% | $5.05B | $5.72B | 500x | as long as short |
| Binance BTCUSDT | +0.0098% | 8h | 85,424.4 | 0.000% | $9.42B | $25.02B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,405 | −0.022% | $271K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,459 | +0.041% | $5.8M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,507 | +0.097% | $3.76B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,447.3 | +0.027% | $40.1M | $605.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,440 | +0.019% | $2.60B | $12.21B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,417 | −0.008% | $3.9M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,428.9 | +0.006% | $4.7M | $96.8M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,349 | −0.088% | $691.7M | $275.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,430.3 | +0.007% | $5.54B | $11.02B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,425.6 | +0.002% | $37.3M | $185.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,426.4 | +0.003% | $156.0M | $554.8M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,436.8 | +0.015% | $283.3M | $959.9M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,457.4 | +0.039% | $214.5M | $159.5M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,472.8 | +0.057% | $30.1M | $209.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,485.9 | +0.072% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,424 | 0.000% | $11.0M | $14.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,428 | +0.005% | $198K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,422.6 | −0.002% | $2.6M | $9.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,459.6 | +0.042% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERPlong | +0.0100% | 1h | 85,424.1 | long leg | $30.0M | $45.9M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,424.5 | 0.000% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,423 | −0.001% | $59.8M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,417.5 | −0.008% | $2.26B | $965.5M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,430.6 | +0.008% | $158.3M | $513.6M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,399.1 | −0.029% | $45.5M | $241.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,433.2 | +0.011% | — | $105.2M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,464 | +0.047% | $112.4M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0137% | 1h | 85,414.6 | −0.011% | $6.6M | $146.6M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0173% | 8h | 85,453 | +0.034% | $12.0M | $737.8M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,451.7 | +0.032% | $8.8M | $42.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0147% | 1h | 85,430.7 | +0.008% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,484.1 | +0.070% | $684K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0285% | 1h | 85,438.8 | +0.017% | $79K | $252K | 20x | as long as short |
Injective BTC/USDC PERP
ApeX Omni BTCUSDT
BingX BTC-USDT
Bybit BTCUSDT
Deribit BTC-PERPETUAL
Bitget BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD