BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0089%/8h= +9.8% APRnext payment +$0.11 per $10,000 · paid last 24h +0.029%

Price spread now: GMX against Nado+0.077%7-day average +0.042% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.070%+$7 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.077%, 7d avg +0.042%

Together, before fees+0.004%+ Points / potential airdropNado: Active · farm board$0 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 GMX is 0.035% dearer against Nado than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado BTC-PERP	85,987.5	0.0087	pay 0.0011% / 1h	14m 46s	$22.2M	$209.9M	50x
Short	GMX BTC/USD [WBTC.b-USDC]	86,053.9	L +0.0198% / S −0.0176%	get 0.0022% / 1h	14m 46s	$12.9M	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.077%Rate

Funding earned: $18.77
Price spread: +0.077% → +0.042%: $3.5
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $3.27
Costs to cover: 0.190%
Break-even: 5.8 days

Slippage unknown: Nado: live order book, 4 min ago; GMX: 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, 4 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.1 bp −$414	10.0 bp −$4,994
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 55 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	−0.0516%	1h	86,081.5	+0.109%	$195K	$684K	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,031	+0.051%	$8K	$2K	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,061.3	+0.086%	$424.5M	$626.5M	150x	as long as short
01 Exchange BTCUSD	−0.0008%	1h	86,006	+0.022%	$355K	$2.1M	50x	as long as short
Injective BTC/USDC PERP	−0.0006%	1h	86,071	+0.097%	$308K	$27.2M	52x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,040	+0.061%	$36.8M	—	200x	as long as short
KuCoin XBTUSDTM	+0.0027%	8h	86,140	+0.177%	$923.4M	$681.4M	125x	as long as short
dYdX BTC-USD	+0.0042%	1h	86,132.8	+0.169%	$16.8M	$19.3M	50x	as long as short
Aster BTCUSDT	+0.0044%	8h	86,107.1	+0.139%	$503.3M	$992.7M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0068%	1h	86,070.1	+0.096%	$188.5M	$872.0M	100x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix BTC	+0.0075%	1h	85,933	−0.063%	$2.3M	$10.4M	40x	as long as short
BingX BTC-USDT	+0.0080%	8h	86,118.3	+0.152%	—	$1.49B	—	as long as short
Bybit BTCUSDT	+0.0082%	8h	86,131.6	+0.168%	$5.11B	$9.20B	150x	as long as short
Nado BTC-PERPlong	+0.0087%	1h	85,987.5	long leg	$22.2M	$209.9M	50x
Lighter BTC	+0.0096%	1h	86,129.4	+0.165%	$173.1M	$961.4M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,136.6	+0.173%	$23.2M	$136.8M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	86,003	+0.018%	$8.7M	$52.3M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,047.8	+0.070%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,110	+0.143%	$216K	$8.3M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,191.4	+0.237%	$5.9M	$9.0M	50x	as long as short
Pacifica BTC	+0.0100%	1h	86,160.6	+0.201%	$40.5M	$591.1M	50x	as long as short
Binance BTCUSDT	+0.0100%	8h	86,140	+0.177%	$9.44B	$23.14B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,133.7	+0.170%	$2.61B	$10.84B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,134	+0.170%	$3.9M	$16.4M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,148.8	+0.188%	$4.7M	$95.2M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	86,129.9	+0.166%	$5.50B	$10.13B	200x	as long as short
MEXC BTC_USDT	+0.0100%	8h	86,135.8	+0.173%	$5.10B	$5.85B	500x	as long as short
Bitget BTCUSDT	+0.0100%	8h	86,133.3	+0.170%	$2.99B	$4.59B	150x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,027.7	+0.047%	$37.9M	$187.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,046.3	+0.068%	$156.9M	$515.9M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,898.8	−0.103%	$287.3M	$974.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,846.1	−0.164%	$215.6M	$155.7M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,913.6	−0.086%	$137.1M	$302.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,905.6	−0.095%	$30.3M	$214.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,074.6	+0.101%	—	$9.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,984	−0.004%	$11.0M	$13.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,018	+0.036%	$211K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,036.9	+0.058%	$2.6M	$9.4M	100x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,048.2	+0.071%	$3.1M	$7.0M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	86,042	+0.063%	$60.2M	$258.0M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,042.6	+0.064%	$2.27B	$915.4M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	86,048.9	+0.071%	$167.4M	$500.3M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,869.6	−0.137%	$707.4M	$169.5M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	86,097.2	+0.128%	$46.3M	$223.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,007.9	+0.024%	—	$94.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	86,094.4	+0.124%	$112.6M	$5.33B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0148%	1h	86,087.8	+0.117%	$830.3M	$1.61B	50x	as long as short
Reya BTCRUSDPERP	+0.0152%	1h	85,986	−0.002%	$6.7M	$134.3M	40x	as long as short
Hyperliquid BTC	+0.0155%	1h	86,198	+0.245%	$3.88B	$4.78B	40x	as long as short
Kalshi KXBTCPERP	+0.0189%	8h	86,047	+0.069%	$11.0M	$726.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0194%	1h	86,029.5	+0.049%	$9.0M	$40.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]short	L +0.0198% / S −0.0176%	1h	86,053.9	+0.077%	$12.9M	—	200x
Hibachi BTC/USDT-P	+0.0328%	1h	85,948	−0.046%	$698K	$7.4M	30x	as long as short
Aftermath Perps BTCUSD	+0.0365%	1h	85,888	−0.116%	$84K	$258K	20x	as long as short
Perpl BTC	+0.0447%	43m	86,032.4	+0.052%	$480K	$17.0M	6.7x	as long as short