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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%
Price spread now: Hyperliquid against Nado+0.072%7-day average +0.035% · 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−$12as in the Price arb table
costs, in and out, $10k−$160.162% of the position
Long on NadoShort on Hyperliquid
What this pair did over the last
the charts below follow
Funding, last 3 days (all we have)+0.021%+$2 on $10k
Price spread, last 7 days−0.070%−$7 · spread now +0.072%, 7d avg +0.035%
Together, before fees−0.050%+ Points / potential airdropNado: Active · Hyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.038% dearer against Nado than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.035%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongNado BTC-PERP86,294.80.0100pay 0.0012% / 1h20m 07s$22.1M$227.0M50x
ShortHyperliquid BTC86,3570.0100get 0.0013% / 1h20m 07s$3.79B$4.97B40x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Hyperliquid against Nado. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

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latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
$0
Price spread: +0.072% → +0.035%
$3.75
Slippage, 4 orders
−$0.23
Fee Nado: 3.5 bp × 2 orders
−$7
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Net
−$12.48
Costs to cover
0.162%
Break-even
1282208216475518.5 days
Slippage from Nado: live order book, 4 min ago; Hyperliquid: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Nado live order book, 4 min ago0.06 bp3.6 bp −$43.6 bp −$364.0 bp −$40410.1 bp −$5,048
Sell Hyperliquid live order book, 4 min ago0.06 bp4.6 bp −$54.6 bp −$465.1 bp −$509doesn't fit

BTC on 56 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bluefin BTC-PERP−0.0139%1h86,337.5+0.050%$144K$666K40xas long as short
Phoenix BTC−0.0129%1h86,359+0.074%$2.2M$11.2M40xas long as short
Hotstuff BTC-PERP−0.0080%1h86,289−0.007%$9K$3K50xas long as short
01 Exchange BTCUSD−0.0032%1h86,288.4−0.007%$363K$2.4M50xas long as short
Perpl BTC0.0000%43m86,303.8+0.010%$481K$21.4M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0005% / S −0.0004%1h86,316.4+0.025%$36.9M—200xas long as short
Injective BTC/USDC PERP+0.0023%1h86,358+0.073%$343K$26.9M52xas long as short
dYdX BTC-USD+0.0024%1h86,292.5−0.003%$16.9M$20.5M50xas long as short
Aster BTCUSDT+0.0030%8h86,300.1+0.006%$500.5M$1.13B200xas long as short
KuCoin XBTUSDTM+0.0042%8h86,300+0.006%$831.1M$717.9M125xas long as short
Show all 56 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Reya BTCRUSDPERP+0.0047%1h86,284.7−0.012%$6.7M$145.8M40xas long as short
BingX BTC-USDC+0.0050%8h86,278.8−0.018%—$15.3M—as long as short
RISEx BTC/USDC+0.0052%1h86,299.6+0.006%$8.3M$42.4M25xas long as short
Bitget BTCUSDT+0.0064%8h86,294.90.000%$2.98B$5.04B150xas long as short
Aevo BTC-PERP+0.0080%1h86,310.7+0.018%$2.5M$1.8M20xas long as short
SoDEX BTC-USD+0.0081%1h86,305+0.012%$60.4M$338.2M40xas long as short
MEXC BTC_USDT+0.0083%8h86,299.1+0.005%$5.13B$5.72B500xas long as short
Binance BTCUSDT+0.0083%8h86,298.2+0.004%$9.40B$24.27B150xas long as short
Lighter BTC+0.0096%1h86,315.8+0.024%$170.5M$988.3M50xas long as short
Lighter RH BTC+0.0096%1h86,322.8+0.033%$23.7M$150.9M50xas long as short
Popdex BTCUSDT+0.0096%1h86,291−0.004%$8.4M$52.0M100xas long as short
Gate BTC_USDT+0.0099%8h86,296.5+0.002%$5.78B$10.57B200xas long as short
Katana Perps BTC-USD+0.0100%8h86,256−0.045%$197K$7.2M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,308.2+0.016%$4.2M$8.6M50xas long as short
Nado BTC-PERPlong+0.0100%1h86,294.8long leg$22.1M$227.0M50x
Hyperliquid BTCshort+0.0100%1h86,357+0.072%$3.79B$4.97B40x
Pacifica BTC+0.0100%1h86,306+0.013%$41.1M$552.2M50xas long as short
Bybit BTCUSDT+0.0100%8h86,301+0.007%$5.25B$9.66B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,301.4+0.008%$2.57B$12.45B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,287−0.009%$3.9M$17.8M25xas long as short
Arcus BTC-USD+0.0100%1h86,313.2+0.021%$7.2M$94.9M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,289.7−0.006%$37.4M$159.0M75xas long as short
Variational Omni BTC+0.0100%8h86,271.9−0.026%$157.9M$558.2M—as long as short
edgeX BTCUSDC+0.0100%4h86,378.6+0.097%$279.0M$949.9M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,434.6+0.162%$217.1M$165.2M50xas long as short
ApeX Omni BTCUSDT+0.0100%1h86,403.6+0.126%$141.5M$321.0M100xas long as short
StandX BTC-USD+0.0100%1h86,307.5+0.015%$30.6M$208.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,326.8+0.037%—$11.8M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,288−0.008%$11.1M$14.1M50xas long as short
Bullet BTC-USD+0.0100%1h86,304+0.011%$191K$3.3M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,316.1+0.025%$2.4M$8.9M100xas long as short
Derive BTC-PERP+0.0100%1h86,332+0.043%$30.3M$56.9M15xas long as short
SunX BTC-USDT+0.0100%8h86,295.9+0.001%$3.4M$5.4M100xas long as short
HTX BTC-USDT+0.0100%8h86,275.9−0.022%$2.29B$958.6M200xas long as short
Phemex BTCUSDT+0.0100%8h86,312.1+0.020%$155.1M$473.1M150xas long as short
Bulk BTC-USD+0.0100%1h86,411.1+0.135%$576.0M$32.8M40xas long as short
Extended BTC-USD+0.0104%1h86,291−0.004%$46.1M$222.0M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0048%1h86,300.3+0.006%—$98.5M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,341.1+0.054%$132.5M$5.34B50xas long as short
Kraken Futures PF_XBTUSD+0.0121%1h86,333.3+0.045%$192.4M$944.4M100xas long as short
Deribit BTC-PERPETUAL+0.0153%1h86,350.1+0.064%$902.2M$1.51B50xas long as short
Hibachi BTC/USDT-P+0.0168%1h86,341.8+0.055%$709K$7.9M30xas long as short
Aftermath Perps BTCUSD+0.0170%1h86,381.2+0.100%$77K$217K20xas long as short
BloFin BTC-USDT+0.0203%8h86,280.1−0.017%$415.0M$641.3M150xas long as short
Kalshi KXBTCPERP+0.0206%8h86,311+0.019%$10.6M$765.1M6.4xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0206% / S −0.0221%1h86,310.7+0.019%$14.5M—200xas long as short