BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0127%/8h= −13.9% APRnext payment −$0.16 per $10,000 · paid last 24h +0.005%

Price spread now: Nado against Kraken Futures−0.030%7-day average −0.022% · 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−$18as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Kraken Futures Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.030%, 7d avg −0.022%

Together, before fees+0.181%+ Points / potential airdropNado: Active · farm board+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XBTUSD	85,721.5	0.0138	pay 0.0017% / 1h	32m 40s	$188.9M	$949.4M	100x
Short	Nado BTC-PERP	85,695.9	0.0011	get 0.0001% / 1h	32m 40s	$22.9M	$221.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Kraken Futures. 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 Kraken FuturesbpFee NadobpOrdersPrice spread, now −0.030%Rate

Funding earned: −$26.73
Price spread: −0.030% → −0.022%: −$0.78
Slippage, 4 orders: −$0.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$45.22
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Nado: live order book, 2 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 Kraken Futures live order book, 2 min ago	0.06 bp	5.5 bp −$5	6.2 bp −$62	7.1 bp −$713	9.1 bp −$4,566
Sell Nado live order book, 2 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.4 bp −$440	10.9 bp −$5,463

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	−0.0160%	1h	85,662	−0.069%	$2.2M	$10.3M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,712	−0.011%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0048%	1h	85,685.6	−0.042%	$370K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0034%	8h	85,695.3	−0.031%	$416.8M	$664.2M	150x	as long as short
dYdX BTC-USD	0.0000%	1h	85,685.8	−0.042%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,701.5	−0.023%	$36.6M	—	200x	as long as short
Bluefin BTC-PERP	+0.0010%	1h	85,726.5	+0.006%	$196K	$722K	40x	as long as short
Nado BTC-PERPshort	+0.0011%	1h	85,695.9	−0.030%	$22.9M	$221.3M	50x
KuCoin XBTUSDTM	+0.0011%	8h	85,684.2	−0.044%	$918.3M	$753.0M	125x	as long as short
Aster BTCUSDT	+0.0019%	8h	85,686.5	−0.041%	$516.3M	$1.11B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0054%	8h	85,706.4	−0.018%	—	$1.53B	—	as long as short
Bitget BTCUSDT	+0.0068%	8h	85,699.9	−0.025%	$2.95B	$5.02B	150x	as long as short
Reya BTCRUSDPERP	+0.0068%	1h	85,692.9	−0.033%	$6.7M	$146.4M	40x	as long as short
HTX BTC-USDT	+0.0070%	8h	85,690.8	−0.036%	$2.27B	$935.3M	200x	as long as short
Injective BTC/USDC PERP	+0.0079%	1h	85,578	−0.167%	$340K	$26.9M	52x	as long as short
Phemex BTCUSDT	+0.0080%	8h	85,691.9	−0.035%	$147.9M	$479.0M	150x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,686.5	−0.041%	$2.5M	$1.7M	20x	as long as short
SunX BTC-USDT	+0.0083%	8h	85,675.7	−0.053%	$2.9M	$6.1M	100x	as long as short
MEXC BTC_USDT	+0.0086%	8h	85,699	−0.026%	$5.05B	$5.62B	500x	as long as short
Deribit BTC-PERPETUAL	+0.0087%	1h	85,733.2	+0.014%	$892.7M	$1.52B	50x	as long as short
Binance BTCUSDT	+0.0087%	8h	85,701.3	−0.024%	$9.36B	$23.91B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,703.4	−0.021%	$170.2M	$989.5M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,712.1	−0.011%	$23.9M	$148.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,704	−0.020%	$8.4M	$52.0M	100x	as long as short
Paradex BTC-USD-PERP	+0.0099%	8h	85,738.7	+0.020%	$3.8M	$8.2M	50x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,673	−0.057%	$196K	$7.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,772	+0.059%	$3.78B	$4.94B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,728.8	+0.009%	$40.5M	$573.5M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,708.6	−0.015%	$5.34B	$9.58B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,713	−0.010%	$2.57B	$12.12B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,705	−0.019%	$3.9M	$18.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,662.5	−0.069%	$7.2M	$96.9M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,707.7	−0.016%	$5.56B	$10.50B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,692.2	−0.034%	$35.5M	$172.5M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,622.5	−0.116%	$155.0M	$548.4M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,599.5	−0.142%	$279.3M	$929.9M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,645.6	−0.089%	$214.9M	$166.3M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,618.1	−0.121%	$140.2M	$316.2M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,651	−0.082%	$30.3M	$210.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,735.6	+0.016%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,691	−0.036%	$11.0M	$14.1M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,700	−0.025%	$189K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,693.2	−0.033%	$2.3M	$8.8M	100x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,685.6	−0.042%	$30.0M	$52.6M	15x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,696	−0.030%	$60.0M	$336.2M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,614.4	−0.125%	$621.3M	$398.6M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,676.8	−0.052%	$44.1M	$227.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,683.7	−0.044%	—	$105.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,736.2	+0.017%	$130.7M	$5.11B	50x	as long as short
RISEx BTC/USDC	+0.0120%	1h	85,730.4	+0.010%	$8.4M	$42.3M	25x	as long as short
Kraken Futures PF_XBTUSDlong	+0.0138%	1h	85,721.5	long leg	$188.9M	$949.4M	100x
Aftermath Perps BTCUSD	+0.0193%	1h	85,629.2	−0.108%	$78K	$219K	20x	as long as short
Hibachi BTC/USDT-P	+0.0200%	1h	85,683.2	−0.045%	$701K	$7.9M	30x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0180%	1h	85,700	−0.025%	$13.6M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0215%	8h	85,712	−0.011%	$10.5M	$760.2M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,682	−0.046%	$519K	$19.4M	6.7x	as long as short