Funding you earn now, next payment 04:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.002%
Price spread now: Orderly against Nado−0.013%51s7-day average +0.004% · 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)+0.002%$0 on $10k
+Price spread, last 4 days (all we have)−0.017%−$2 · spread now −0.013%, 7d avg +0.004%
=Together, before fees−0.015%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 51 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 | 85,533.9 | 0.0056 | pay 0.0007% / 1h | 48m 34s | $22.5M | $218.7M | 50x |
| Short | Orderly PERP_BTC_USDC | 85,522.7 | 0.0100 | get 0.0100% / 8h | 4h 48m | $2.4M | $8.7M | 100x |
Nado BTC-PERP
Orderly PERP_BTC_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- $9.28
- Price spread: −0.013% → +0.004%
- −$1.74
- Slippage, 4 orders
- no order book: not counted
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$5.46
- Costs to cover
- 0.130%
- Break-even
- 11.1 days
Slippage unknown: Nado: live order book, 6 min ago; Orderly: 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, 6 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.2 bp −$425 | 11.1 bp −$5,573 |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | |
|---|---|---|---|---|---|---|---|---|
| Bluefin BTC-PERP | −0.1397% | 1h | 85,566.1 | +0.038% | $194K | $725K | 40x | as long as short |
| Phoenix BTC | −0.0179% | 1h | 85,568 | +0.040% | $2.2M | $10.3M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,576 | +0.049% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0040% | 1h | 85,531.7 | −0.003% | $368K | $2.3M | 50x | as long as short |
| BloFin BTC-USDT | −0.0030% | 8h | 85,528.7 | −0.006% | $417.9M | $665.3M | 150x | as long as short |
| KuCoin XBTUSDTM | −0.0003% | 8h | 85,530.5 | −0.004% | $918.4M | $749.4M | 125x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,559.9 | +0.031% | $16.7M | $21.2M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,536.9 | +0.004% | $36.5M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,518.4 | −0.018% | $515.4M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,531.1 | −0.003% | $6.9M | $97.2M | 40x | as long as short |
Bluefin BTC-PERP
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
BloFin BTC-USDT
KuCoin XBTUSDTM
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
Arcus BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado BTC-PERPlong | +0.0056% | 1h | 85,533.9 | long leg | $22.5M | $218.7M | 50x | |
| BingX BTC-USDT | +0.0058% | 8h | 85,536.5 | +0.003% | — | $1.54B | — | as long as short |
| Bitget BTCUSDT | +0.0075% | 8h | 85,531.7 | −0.003% | $2.96B | $5.01B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0077% | 1h | 85,521.4 | −0.015% | $6.7M | $146.6M | 40x | as long as short |
| Aevo BTC-PERP | +0.0088% | 1h | 85,536 | +0.002% | $2.5M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0089% | 8h | 85,529 | −0.006% | $5.04B | $5.58B | 500x | as long as short |
| Binance BTCUSDT | +0.0089% | 8h | 85,534.8 | +0.001% | $9.33B | $23.97B | 150x | as long as short |
| SoDEX BTC-USD | +0.0095% | 1h | 85,532 | −0.002% | $59.9M | $336.1M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,526.6 | −0.008% | $173.7M | $1.00B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,534.4 | +0.001% | $23.8M | $148.2M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,546 | +0.014% | $8.4M | $52.6M | 100x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,571.6 | +0.044% | $3.9M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,524 | −0.012% | $232K | $7.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,615 | +0.095% | $3.74B | $4.97B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,553.7 | +0.023% | $40.1M | $575.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,539.9 | +0.007% | $5.32B | $9.58B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,538 | +0.005% | $2.57B | $12.08B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,529 | −0.006% | $3.9M | $17.9M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,696.6 | +0.190% | $648.3M | $574.6M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,552.4 | +0.022% | $5.53B | $10.55B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,514.5 | −0.023% | $35.8M | $175.9M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,584.4 | +0.059% | $156.6M | $560.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,637.5 | +0.121% | $279.7M | $917.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,650.2 | +0.136% | $214.9M | $165.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,590.3 | +0.066% | $139.9M | $314.8M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,595.3 | +0.072% | $30.2M | $207.5M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,591.3 | +0.067% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,525 | −0.010% | $11.0M | $14.2M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,529 | −0.006% | $194K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDCshort | +0.0100% | 8h | 85,522.7 | −0.013% | $2.4M | $8.7M | 100x | |
| Derive BTC-PERP | +0.0100% | 1h | 85,528.9 | −0.006% | $30.0M | $50.9M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,539 | +0.006% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,533.6 | 0.000% | $2.26B | $939.1M | 200x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,532.7 | −0.001% | $150.9M | $482.9M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,510.8 | −0.027% | $44.5M | $226.3M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,585.5 | +0.060% | — | $106.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,567.9 | +0.040% | $117.4M | $5.15B | 50x | as long as short |
| Injective BTC/USDC PERP | +0.0150% | 1h | 85,497 | −0.043% | $339K | $26.9M | 52x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0170% | 1h | 85,554.5 | +0.024% | $188.5M | $952.6M | 100x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0151% | 1h | 85,545.1 | +0.013% | $13.4M | — | 200x | as long as short |
| Deribit BTC-PERPETUAL | +0.0183% | 1h | 85,581.3 | +0.055% | $893.4M | $1.53B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0184% | 1h | 85,584 | +0.059% | $694K | $7.9M | 30x | as long as short |
| RISEx BTC/USDC | +0.0194% | 1h | 85,574.5 | +0.048% | $8.4M | $42.4M | 25x | as long as short |
| Aftermath Perps BTCUSD | +0.0203% | 1h | 85,630.6 | +0.113% | $78K | $219K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0218% | 8h | 85,581 | +0.055% | $10.7M | $758.5M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,542.5 | +0.010% | $494K | $18.9M | 6.7x | as long as short |
BingX BTC-USDT
Bitget BTCUSDT
Reya BTCRUSDPERP
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
SoDEX BTC-USD
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
ApeX Omni BTCUSDT
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Injective BTC/USDC PERP
Kraken Futures PF_XBTUSD
GMX BTC/USD [WBTC.b-USDC]
Deribit BTC-PERPETUAL
Hibachi BTC/USDT-P
RISEx BTC/USDC
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Perpl BTC