BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0091%/8h= +9.9% APRnext payment +$0.11 per $10,000 · paid last 24h −0.168%

Price spread now: Bluefin against Nado+0.048%50s7-day average −0.013% · 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—prices read too far apart to compare

costs, in and out, $10k−$210.209% of the position

Long on Nado Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.424%−$42 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.048%, 7d avg −0.013%

Together, before fees−0.514%+ Points / potential airdropNado: Active · farm board−$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bluefin is 0.061% dearer against Nado than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.013%. Mind the row above: over the last 3 days funding on this pair cost −0.424%, so the current rate has only just turned in your favour. The two prices were read 50 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	Nado BTC-PERP	85,676.5	0.0009	pay 0.0001% / 1h	54m 28s	$24.8M	$222.7M	50x
Short	Bluefin BTC-PERP	85,717.5	0.0100	get 0.0013% / 1h	54m 28s	$207K	$739K	40x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin against Nado. 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 NadobpFee BluefinbpOrdersPrice spread, now +0.048%Rate

Funding earned: $19.02
Price spread: +0.048% → −0.013%: $6.09
Slippage, 4 orders: −$6.89
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: $4.22
Costs to cover: 0.209%
Break-even: 5.4 days

Slippage from Nado: live order book, 5 min ago; Bluefin: live order book, 65 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 Nado live order book, 5 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.4 bp −$439	10.8 bp −$5,417
Sell Bluefin live order book, 65 min ago	2.16 bp	6.1 bp −$6	11.3 bp −$113	doesn't fit	doesn't fit

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	−0.0179%	1h	85,646	−0.036%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,688	+0.013%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0037%	8h	85,618.9	−0.067%	$923.2M	$755.9M	125x	as long as short
BloFin BTC-USDT	−0.0020%	8h	85,677.2	+0.001%	$417.5M	$676.0M	150x	as long as short
01 Exchange BTCUSD	−0.0016%	1h	85,654.6	−0.026%	$367K	$2.3M	50x	as long as short
dYdX BTC-USD	0.0000%	1h	85,678.6	+0.002%	$16.8M	$21.2M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,688.6	+0.014%	$36.6M	—	200x	as long as short
Nado BTC-PERPlong	+0.0009%	1h	85,676.5	long leg	$24.8M	$222.7M	50x
Aster BTCUSDT	+0.0013%	8h	85,648.5	−0.033%	$516.0M	$1.10B	200x	as long as short
Injective BTC/USDC PERP	+0.0044%	1h	85,690	+0.016%	$340K	$26.9M	52x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDC	+0.0063%	8h	85,658.4	−0.021%	—	$17.2M	—	as long as short
Phemex BTCUSDT	+0.0067%	8h	85,674.7	−0.002%	$148.7M	$489.4M	150x	as long as short
Bitget BTCUSDT	+0.0080%	8h	85,621.3	−0.064%	$2.96B	$5.11B	150x	as long as short
Reya BTCRUSDPERP	+0.0090%	1h	85,621.1	−0.065%	$6.6M	$146.9M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,687.9	+0.013%	$172.3M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,690.5	+0.016%	$23.9M	$147.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,655	−0.025%	$8.7M	$54.0M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,662.8	−0.016%	$2.5M	$1.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,638	−0.045%	$201K	$8.2M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,745.9	+0.081%	$5.3M	$9.2M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,710	+0.039%	$3.79B	$5.00B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,709.5	+0.039%	$40.5M	$582.0M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	85,661.9	−0.017%	$9.42B	$24.29B	150x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,625.8	−0.059%	$5.19B	$9.83B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,635	−0.048%	$2.59B	$12.17B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,672	−0.005%	$3.8M	$17.8M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,656.9	−0.023%	$4.4M	$98.4M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,676.9	+0.001%	$5.53B	$10.72B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	85,620.6	−0.065%	$5.07B	$5.63B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,676.5	0.000%	$35.7M	$176.9M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,637.7	−0.045%	$153.8M	$564.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,615.1	−0.072%	$279.7M	$922.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,633.8	−0.050%	$214.9M	$167.9M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,629.8	−0.054%	$140.0M	$315.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,638.2	−0.045%	$30.3M	$208.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,693.3	+0.020%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,636	−0.047%	$11.1M	$14.3M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,623.8	−0.061%	$195K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,672.3	−0.005%	$2.4M	$8.7M	100x	as long as short
Bluefin BTC-PERPshort	+0.0100%	1h	85,717.5	+0.048%	$207K	$739K	40x
Derive BTC-PERP	+0.0100%	1h	85,668.1	−0.010%	$30.0M	$50.1M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,623.2	−0.062%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,682	+0.006%	$60.0M	$336.1M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,670.2	−0.007%	$2.27B	$946.3M	200x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,665.1	−0.013%	$677.0M	$718.2M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,645.6	−0.036%	$44.8M	$231.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,671.8	−0.005%	—	$107.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,717.9	+0.048%	$117.4M	$5.22B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0111%	1h	85,716.4	+0.047%	$885.7M	$1.58B	50x	as long as short
Kraken Futures PF_XBTUSD	+0.0135%	1h	85,706.7	+0.035%	$187.8M	$956.2M	100x	as long as short
RISEx BTC/USDC	+0.0174%	1h	85,698.5	+0.026%	$8.9M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0178%	1h	85,682.1	+0.007%	$13.2M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0209%	8h	85,670	−0.008%	$12.0M	$757.1M	6.4x	as long as short
Aftermath Perps BTCUSD	+0.0222%	1h	85,643.2	−0.039%	$78K	$220K	20x	as long as short
Hibachi BTC/USDT-P	+0.0256%	1h	85,684.6	+0.009%	$704K	$7.9M	30x	as long as short
Perpl BTC	+0.0335%	43m	85,638.4	−0.044%	$496K	$18.8M	6.7x	as long as short