BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.001%

Price spread now: Nado against Extended−0.040%51s7-day average +0.042% · 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—prices read too far apart to compare

costs, in and out, $10k−$120.122% of the position

Long on Extended Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.040%, 7d avg +0.042%

Together, before fees+0.054%+ Points / potential airdropExtended: Active · Nado: Active · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.082% cheaper against Extended than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.042%. The two prices were read 51 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	Extended BTC-USD	86,394.4	0.0104	pay 0.0013% / 1h	39m 39s	$45.8M	$222.4M	50x
Short	Nado BTC-PERP	86,360.1	0.0100	get 0.0012% / 1h	39m 39s	$21.9M	$230.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Extended. 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 ExtendedbpFee NadobpOrdersPrice spread, now −0.040%Rate

Funding earned: −$0.84
Price spread: −0.040% → +0.042%: −$8.23
Slippage, 4 orders: −$0.23
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$21.3
Costs to cover: 0.122%
Break-even: never at this rate

Slippage from Extended: 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 Extended live order book, 5 min ago	0.06 bp	2.6 bp −$3	2.6 bp −$26	2.6 bp −$262	8.9 bp −$4,473
Sell Nado live order book, 5 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.6 bp −$459	12.3 bp −$6,142

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	−0.0129%	1h	86,448	+0.062%	$2.2M	$11.2M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,422	+0.032%	$9K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0032%	1h	86,397.5	+0.004%	$361K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	86,409.8	+0.018%	$479K	$21.9M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	86,435.4	+0.047%	$36.9M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0019%	1h	86,454.2	+0.069%	$903.6M	$1.51B	50x	as long as short
Aster BTCUSDT	+0.0021%	8h	86,431	+0.042%	$501.3M	$1.14B	200x	as long as short
dYdX BTC-USD	+0.0022%	1h	86,402.9	+0.010%	$16.9M	$20.5M	50x	as long as short
Injective BTC/USDC PERP	+0.0023%	1h	86,616	+0.256%	$333K	$26.9M	52x	as long as short
Phemex BTCUSDT	+0.0037%	8h	86,415.4	+0.024%	$153.8M	$475.3M	150x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XBTUSDTM	+0.0037%	8h	86,430.8	+0.042%	$831.1M	$723.5M	125x	as long as short
Reya BTCRUSDPERP	+0.0043%	1h	86,412.8	+0.021%	$6.7M	$145.7M	40x	as long as short
BingX BTC-USDT	+0.0049%	8h	86,413.4	+0.022%	—	$1.58B	—	as long as short
RISEx BTC/USDC	+0.0052%	1h	86,410.3	+0.018%	$8.3M	$42.5M	25x	as long as short
Bitget BTCUSDT	+0.0062%	8h	86,403.8	+0.011%	$2.97B	$5.05B	150x	as long as short
MEXC BTC_USDT	+0.0078%	8h	86,426.7	+0.037%	$5.13B	$5.68B	500x	as long as short
Binance BTCUSDT	+0.0078%	8h	86,426.9	+0.038%	$9.41B	$24.39B	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	86,400.6	+0.007%	$2.5M	$1.7M	20x	as long as short
Lighter BTC	+0.0096%	1h	86,440.8	+0.054%	$170.3M	$984.2M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,447	+0.061%	$23.7M	$149.0M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,387	−0.009%	$8.4M	$52.0M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,369	−0.029%	$201K	$7.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,435.9	+0.048%	$4.6M	$8.5M	50x	as long as short
Nado BTC-PERPshort	+0.0100%	1h	86,360.1	−0.040%	$21.9M	$230.1M	50x
Hyperliquid BTC	+0.0100%	1h	86,492	+0.113%	$3.80B	$4.99B	40x	as long as short
Pacifica BTC	+0.0100%	1h	86,459	+0.075%	$40.7M	$551.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	86,429.2	+0.040%	$5.26B	$9.70B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,415.9	+0.025%	$2.56B	$12.54B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,433	+0.045%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,431.1	+0.042%	$7.2M	$95.1M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,418.3	+0.028%	$5.82B	$10.52B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,427.6	+0.038%	$37.5M	$156.0M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,351.7	−0.050%	$158.4M	$564.0M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,429.4	+0.040%	$279.2M	$949.5M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,468.6	+0.086%	$217.0M	$165.5M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	86,422.4	+0.032%	$141.5M	$322.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	86,404	+0.011%	$30.7M	$208.9M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,441.1	+0.054%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,412	+0.020%	$11.1M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,420	+0.030%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,422.7	+0.033%	$2.5M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,456.2	+0.071%	$144K	$667K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	86,447.6	+0.062%	$30.5M	$62.5M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,350	−0.051%	$3.4M	$5.2M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,421	+0.031%	$60.4M	$338.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,400	+0.006%	$2.29B	$963.6M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,336.3	−0.067%	$571.6M	$13.0M	40x	as long as short
Extended BTC-USDlong	+0.0104%	1h	86,394.4	long leg	$45.8M	$222.4M	50x
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	86,419.7	+0.029%	—	$99.0M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,461.9	+0.078%	$132.2M	$5.47B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0121%	1h	86,455.8	+0.071%	$192.3M	$943.7M	100x	as long as short
Hibachi BTC/USDT-P	+0.0160%	1h	86,468	+0.085%	$712K	$8.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0165%	1h	86,429.2	+0.040%	$78K	$217K	20x	as long as short
BloFin BTC-USDT	+0.0199%	8h	86,354.6	−0.046%	$414.4M	$649.7M	150x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0217%	1h	86,426.2	+0.037%	$14.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0210%	8h	86,409	+0.017%	$10.1M	$762.2M	6.4x	as long as short