Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.020%
Price spread now: Nado against Hyperliquid−0.001%7-day average −0.035% · 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−$13as in the Price arb table
costs, in and out, $10k−$160.162% of the position
Funding, last 3 days (all we have)−0.021%−$2 on $10k
+Price spread, last 7 days0.000%$0 · spread now −0.001%, 7d avg −0.035%
=Together, before fees−0.021%+ Points / potential airdropHyperliquid: Season 2 · Nado: Active · farm board−$2 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 0.033% dearer against Hyperliquid than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.035%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid BTC | 86,296 | 0.0100 | pay 0.0013% / 1h | 19m 39s | $3.78B | $4.97B | 40x |
| Short | Nado BTC-PERP | 86,294.8 | 0.0100 | get 0.0012% / 1h | 19m 39s | $22.1M | $227.0M | 50x |
Hyperliquid BTC
Nado BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Hyperliquid. 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
- $0
- Price spread: −0.001% → −0.035%
- $3.32
- Slippage, 4 orders
- −$0.23
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$12.91
- Costs to cover
- 0.162%
- Break-even
- never at this rate
Slippage from Hyperliquid: 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 Hyperliquid live order book, 5 min ago | 0.06 bp | 4.6 bp −$5 | 4.6 bp −$46 | 5.0 bp −$502 | doesn't fit |
| Sell Nado live order book, 5 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 5.1 bp −$505 | 10.4 bp −$5,193 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.0139% | 1h | 86,337.5 | +0.048% | $144K | $666K | 40x | as long as short |
| Phoenix BTC | −0.0129% | 1h | 86,359 | +0.073% | $2.2M | $11.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 86,268 | −0.032% | $9K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0032% | 1h | 86,263.8 | −0.037% | $363K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 86,303.8 | +0.009% | $481K | $21.4M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 86,316.4 | +0.024% | $36.9M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0023% | 1h | 86,358 | +0.072% | $343K | $26.9M | 52x | as long as short |
| dYdX BTC-USD | +0.0023% | 1h | 86,292.5 | −0.004% | $16.9M | $20.5M | 50x | as long as short |
| Aster BTCUSDT | +0.0030% | 8h | 86,258.7 | −0.043% | $500.3M | $1.13B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0042% | 8h | 86,242.9 | −0.061% | $830.6M | $717.9M | 125x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
dYdX BTC-USD
Aster BTCUSDT
KuCoin XBTUSDTMShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya BTCRUSDPERP | +0.0047% | 1h | 86,284.7 | −0.013% | $6.7M | $145.8M | 40x | as long as short |
| BingX BTC-USDT | +0.0050% | 8h | 86,249.4 | −0.054% | — | $1.57B | — | as long as short |
| RISEx BTC/USDC | +0.0052% | 1h | 86,265.6 | −0.035% | $8.3M | $42.4M | 25x | as long as short |
| Bitget BTCUSDT | +0.0064% | 8h | 86,248.7 | −0.055% | $2.97B | $5.04B | 150x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 86,310.7 | +0.017% | $2.5M | $1.8M | 20x | as long as short |
| SoDEX BTC-USD | +0.0081% | 1h | 86,305 | +0.010% | $60.4M | $338.2M | 40x | as long as short |
| MEXC BTC_USDT | +0.0083% | 8h | 86,243.8 | −0.060% | $5.13B | $5.73B | 500x | as long as short |
| Binance BTCUSDT | +0.0083% | 8h | 86,260.3 | −0.041% | $9.40B | $24.27B | 150x | as long as short |
| Gate BTC_USDT | +0.0092% | 8h | 86,252.4 | −0.051% | $5.77B | $10.57B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 86,247.2 | −0.057% | $170.3M | $988.5M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 86,254.6 | −0.048% | $23.7M | $151.0M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 86,260 | −0.042% | $8.4M | $52.0M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 86,226 | −0.081% | $197K | $7.2M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 86,263.7 | −0.037% | $4.2M | $8.6M | 50x | as long as short |
| Nado BTC-PERPshort | +0.0100% | 1h | 86,294.8 | −0.001% | $22.1M | $227.0M | 50x | |
| Hyperliquid BTClong | +0.0100% | 1h | 86,296 | long leg | $3.78B | $4.97B | 40x | |
| Pacifica BTC | +0.0100% | 1h | 86,274.9 | −0.024% | $40.6M | $558.6M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 86,279.9 | −0.019% | $5.25B | $9.66B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 86,281.7 | −0.017% | $2.56B | $12.45B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 86,240 | −0.065% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 86,277.4 | −0.022% | $7.2M | $94.9M | 40x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 86,289.7 | −0.007% | $37.4M | $159.0M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 86,271.9 | −0.028% | $157.9M | $558.2M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 86,274.4 | −0.025% | $278.7M | $950.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 86,277 | −0.022% | $216.6M | $165.7M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 86,283.5 | −0.014% | $141.3M | $321.0M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 86,307.5 | +0.013% | $30.6M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 86,326.8 | +0.036% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 86,288 | −0.009% | $11.1M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 86,304 | +0.009% | $191K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 86,316.1 | +0.023% | $2.4M | $8.9M | 100x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 86,332 | +0.042% | $30.3M | $56.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 86,295.9 | 0.000% | $3.4M | $5.4M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 86,275.9 | −0.023% | $2.29B | $958.6M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 86,312.1 | +0.019% | $155.1M | $473.1M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 86,411.1 | +0.133% | $576.0M | $32.8M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 86,228.3 | −0.078% | $46.0M | $222.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 86,300.3 | +0.005% | — | $98.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0120% | 1h | 86,341.1 | +0.052% | $132.5M | $5.34B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0121% | 1h | 86,333.3 | +0.043% | $192.4M | $944.4M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0153% | 1h | 86,350.1 | +0.063% | $902.2M | $1.51B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0168% | 1h | 86,341.8 | +0.053% | $709K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0170% | 1h | 86,381.2 | +0.099% | $77K | $217K | 20x | as long as short |
| BloFin BTC-USDT | +0.0203% | 8h | 86,280.1 | −0.018% | $415.0M | $641.3M | 150x | as long as short |
| Kalshi KXBTCPERP | +0.0206% | 8h | 86,311 | +0.017% | $10.6M | $765.1M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0206% / S −0.0221% | 1h | 86,310.7 | +0.017% | $14.5M | — | 200x | as long as short |
Reya BTCRUSDPERP
BingX BTC-USDT
RISEx BTC/USDC
Bitget BTCUSDT
Aevo BTC-PERP
SoDEX BTC-USD
MEXC BTC_USDT
Binance BTCUSDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD
BloFin BTC-USDT
Kalshi KXBTCPERP
GMX BTC/USD [WBTC.b-USDC]