Funding you earn now, next payment 07:00 UTC+0.0054%/8h= +5.9% APRnext payment +$0.07 per $10,000 · paid last 24h +0.008%
Price spread now: Derive against Nado−0.003%7-day average +0.003% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.023%−$2 on $10k
+Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.003%, 7d avg +0.003%
=Together, before fees−0.035%+ Points / potential airdropNado: Active · farm board−$3 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado BTC-PERP | 85,219.2 | 0.0046 | pay 0.0006% / 1h | 38m 52s | $24.4M | $222.6M | 50x |
| Short | Derive BTC-PERP | 85,216.4 | 0.0100 | get 0.0013% / 1h | 38m 52s | $29.9M | $47.8M | 15x |
Nado BTC-PERP
Derive BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Derive against Nado. 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
- $11.31
- Price spread: −0.003% → +0.003%
- −$0.61
- Slippage, 4 orders
- no order book: not counted
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Derive: 3 bp × 2 orders
- −$6
- Net
- −$2.29
- Costs to cover
- 0.130%
- Break-even
- 8.4 days
Slippage unknown: Nado: live order book, 5 min ago; Derive: no order-book sample. Net counts fees only.
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 | 4.1 bp −$412 | 10.4 bp −$5,220 |
| Sell Derive no order-book sample | — | — | — | — | — |
Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0082% | 1h | 85,287 | +0.080% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,251 | +0.037% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0047% | 8h | 85,236.7 | +0.021% | $927.0M | $773.7M | 125x | as long as short |
| BloFin BTC-USDT | −0.0027% | 8h | 85,238.9 | +0.023% | $421.0M | $682.0M | 150x | as long as short |
| Aster BTCUSDT | −0.0012% | 8h | 85,240.6 | +0.025% | $512.2M | $1.09B | 200x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,277 | +0.068% | $16.7M | $21.4M | 50x | as long as short |
| 01 Exchange BTCUSD | 0.0000% | 1h | 85,243.2 | +0.028% | $353K | $2.4M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,241.6 | +0.026% | $532K | $18.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,249.1 | +0.035% | $36.4M | — | 200x | as long as short |
| Nado BTC-PERPlong | +0.0046% | 1h | 85,219.2 | long leg | $24.4M | $222.6M | 50x |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
Aster BTCUSDT
dYdX BTC-USD
01 Exchange BTCUSD
Perpl BTC
gTrade (Gains Network) BTC/USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni BTCUSDT | +0.0049% | 1h | 85,297.3 | +0.092% | $139.5M | $314.5M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0057% | 1h | 85,247 | +0.033% | $338K | $26.8M | 52x | as long as short |
| BingX BTC-USDC | +0.0070% | 8h | 85,221 | +0.002% | — | $17.5M | — | as long as short |
| Bitget BTCUSDT | +0.0088% | 8h | 85,236.6 | +0.020% | $2.95B | $5.18B | 150x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0089% | 1h | 85,270.1 | +0.060% | $186.0M | $956.5M | 100x | as long as short |
| MEXC BTC_USDT | +0.0092% | 8h | 85,243.5 | +0.029% | $5.01B | $5.74B | 500x | as long as short |
| Binance BTCUSDT | +0.0093% | 8h | 85,241.7 | +0.026% | $9.42B | $24.97B | 150x | as long as short |
| SoDEX BTC-USD | +0.0096% | 1h | 85,250 | +0.036% | $59.7M | $336.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,245 | +0.030% | $169.9M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,262.2 | +0.051% | $23.5M | $147.9M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,232 | +0.015% | $8.4M | $56.1M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,230.1 | +0.013% | $2.4M | $6.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,206 | −0.015% | $236K | $8.6M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,288.2 | +0.081% | $5.8M | $9.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,321 | +0.120% | $3.74B | $5.08B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,261.2 | +0.049% | $40.2M | $604.4M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,237.1 | +0.021% | $5.14B | $9.99B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,242.8 | +0.028% | $2.59B | $12.25B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,223 | +0.005% | $3.8M | $17.1M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,230.9 | +0.014% | $4.9M | $99.3M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,278.8 | +0.070% | $682.9M | $449.0M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,246.2 | +0.032% | $5.50B | $10.99B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,240.1 | +0.025% | $36.7M | $178.2M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,253.8 | +0.041% | $154.6M | $558.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,273.1 | +0.063% | $279.4M | $949.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,291 | +0.084% | $214.2M | $166.1M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,254.7 | +0.042% | $30.0M | $204.2M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,298.4 | +0.093% | — | $10.9M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,237 | +0.021% | $11.0M | $14.5M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,240 | +0.024% | $200K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,238.1 | +0.022% | $2.6M | $9.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,281.7 | +0.073% | $193K | $795K | 40x | as long as short |
| Derive BTC-PERPshort | +0.0100% | 1h | 85,216.4 | −0.003% | $29.9M | $47.8M | 15x | |
| SunX BTC-USDT | +0.0100% | 8h | 85,222 | +0.003% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,250.8 | +0.037% | $2.25B | $970.3M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,272.4 | +0.062% | $150.8M | $509.0M | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0102% | 1h | 85,290 | +0.083% | $868.8M | $1.64B | 50x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,222.4 | +0.004% | $44.8M | $240.8M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,242.2 | +0.027% | — | $107.1M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,297 | +0.091% | $117.2M | $5.46B | 50x | as long as short |
| Reya BTCRUSDPERP | +0.0126% | 1h | 85,232.1 | +0.015% | $6.6M | $147.6M | 40x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0175% / S −0.0152% | 1h | 85,266.1 | +0.055% | $13.0M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0189% | 8h | 85,271 | +0.061% | $11.7M | $742.5M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0193% | 1h | 85,259.6 | +0.047% | $8.7M | $43.1M | 25x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,279.9 | +0.071% | $684K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0257% | 1h | 85,311.9 | +0.109% | $79K | $229K | 20x | as long as short |
ApeX Omni BTCUSDT
Injective BTC/USDC PERP
BingX BTC-USDC
Bitget BTCUSDT
Kraken Futures PF_XBTUSD
MEXC BTC_USDT
Binance BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk 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
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Deribit BTC-PERPETUAL
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Reya BTCRUSDPERP
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
RISEx BTC/USDC
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD