Funding you earn now, next payment 08:00 UTC−0.0013%/8h= −1.4% APRnext payment −$0.02 per $10,000 · paid last 24h −0.005%
Price spread now: Nado against Lighter RH+0.004%7-day average −0.005% · 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−$8as in the Price arb table
costs, in and out, $10k−$90.085% of the position
Funding, last 4 days (all we have)−0.002%$0 on $10k
+Price spread, last 7 days+0.013%+$1 · spread now +0.004%, 7d avg −0.005%
=Together, before fees+0.011%+ Points / potential airdropLighter RH: Points live · Nado: Active · farm board+$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH BTC | 85,324.7 | 0.0096 | pay 0.0012% / 1h | 39m 14s | $23.6M | $148.1M | 50x |
| Short | Nado BTC-PERP | 85,327.8 | 0.0083 | get 0.0010% / 1h | 39m 14s | $24.1M | $220.2M | 50x |
Lighter RH BTC
Nado BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Lighter RH. 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
- −$2.68
- Price spread: +0.004% → −0.005%
- $0.87
- Slippage, 4 orders
- −$1.53
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$10.34
- Costs to cover
- 0.085%
- Break-even
- never at this rate
Slippage from Lighter RH: 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 Lighter RH live order book, 5 min ago | 0.11 bp | 0.1 bp $0 | 0.2 bp −$2 | 2.9 bp −$292 | 24.2 bp −$12.1K |
| Sell Nado live order book, 5 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.6 bp −$457 | 11.4 bp −$5,712 |
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 | 85,339 | +0.017% | $8K | $3K | 50x | as long as short |
| Phoenix BTC | −0.0034% | 1h | 85,392 | +0.079% | $2.3M | $10.8M | 40x | as long as short |
| KuCoin XBTUSDTM | −0.0025% | 8h | 85,335.1 | +0.012% | $929.9M | $775.3M | 125x | as long as short |
| BloFin BTC-USDT | −0.0022% | 8h | 85,311.6 | −0.015% | $420.7M | $681.9M | 150x | as long as short |
| Aster BTCUSDT | −0.0005% | 8h | 85,309.5 | −0.018% | $511.6M | $1.08B | 200x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,312.8 | −0.014% | $347K | $2.3M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,349.8 | +0.029% | $466K | $18.3M | 6.7x | as long as short |
| dYdX BTC-USD | +0.0004% | 1h | 85,342.5 | +0.021% | $16.7M | $21.0M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,321.5 | −0.004% | $36.5M | — | 200x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0026% | 1h | 85,326.6 | +0.002% | $186.1M | $953.0M | 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 | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0063% | 1h | 85,387.6 | +0.074% | $139.8M | $312.7M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0067% | 1h | 85,342 | +0.020% | $338K | $24.7M | 52x | as long as short |
| BingX BTC-USDC | +0.0067% | 8h | 85,295 | −0.035% | — | $17.4M | — | as long as short |
| Bybit BTCUSDT | +0.0082% | 8h | 85,302.6 | −0.026% | $5.13B | $9.98B | 150x | as long as short |
| Nado BTC-PERPshort | +0.0083% | 1h | 85,327.8 | +0.004% | $24.1M | $220.2M | 50x | |
| Deribit BTC-PERPETUAL | +0.0085% | 1h | 85,354.6 | +0.035% | $840.9M | $1.66B | 50x | as long as short |
| Bitget BTCUSDT | +0.0092% | 8h | 85,311 | −0.016% | $2.97B | $5.18B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,325.4 | +0.001% | $168.7M | $1.02B | 50x | as long as short |
| Lighter RH BTClong | +0.0096% | 1h | 85,324.7 | long leg | $23.6M | $148.1M | 50x | |
| Popdex BTCUSDT | +0.0096% | 1h | 85,307 | −0.021% | $8.4M | $57.4M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,309.5 | −0.018% | $2.4M | $6.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0098% | 8h | 85,325 | 0.000% | $5.05B | $5.73B | 500x | as long as short |
| Binance BTCUSDT | +0.0098% | 8h | 85,314.5 | −0.012% | $9.40B | $25.02B | 150x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,281 | −0.051% | $271K | $8.7M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,386 | +0.072% | $5.8M | $9.5M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,415 | +0.106% | $3.75B | $5.07B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,338 | +0.016% | $40.0M | $606.5M | 50x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,314.1 | −0.012% | $2.60B | $12.20B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,312 | −0.015% | $3.8M | $17.3M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,311.2 | −0.016% | $4.7M | $96.8M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,328.8 | +0.005% | $5.52B | $11.04B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,325.9 | +0.001% | $37.2M | $185.1M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,361.8 | +0.043% | $156.0M | $553.1M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,384 | +0.069% | $283.1M | $956.3M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,395.4 | +0.083% | $214.4M | $158.5M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,423 | +0.115% | $30.1M | $210.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,394.9 | +0.082% | — | $10.1M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,328 | +0.004% | $11.0M | $14.7M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,327 | +0.003% | $197K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,313.8 | −0.013% | $2.6M | $9.7M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,356.5 | +0.037% | $194K | $795K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,320.3 | −0.005% | $29.9M | $45.8M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,320.9 | −0.004% | $2.9M | $6.1M | 100x | as long as short |
| SoDEX BTC-USD | +0.0100% | 1h | 85,313 | −0.014% | $59.7M | $336.5M | 40x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,312.5 | −0.014% | $2.25B | $967.7M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,332.4 | +0.009% | $159.0M | $514.6M | 150x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,299.3 | −0.030% | $693.1M | $258.2M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,274.3 | −0.059% | $45.5M | $241.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,312.1 | −0.015% | — | $105.9M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,351.9 | +0.032% | $112.2M | $5.48B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0138% | 1h | 85,320.1 | −0.005% | $6.6M | $146.0M | 40x | as long as short |
| Kalshi KXBTCPERP | +0.0173% | 8h | 85,345 | +0.024% | $12.0M | $736.3M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,327.5 | +0.003% | $8.8M | $42.8M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0147% | 1h | 85,326.7 | +0.002% | $13.0M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0200% | 1h | 85,387.3 | +0.073% | $683K | $7.7M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0298% | 1h | 85,396.7 | +0.084% | $79K | $252K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDC
Bybit BTCUSDT
Deribit BTC-PERPETUAL
Bitget BTCUSDT
Lighter 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
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
Derive BTC-PERP
SunX BTC-USDT
SoDEX BTC-USD
HTX BTC-USDT
Phemex BTCUSDT
Bulk BTC-USD
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