Funding you earn now, next payment 05:00 UTC−0.0038%/8h= −4.1% APRpaid last 24h −0.002%
Price spread now: Nado against Orderly+0.007%7-day average −0.004% · you sell dearer than you buy
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)+0.023%+$2 · spread now +0.007%, 7d avg −0.004%
=Together, before fees+0.021%+ Points / potential airdropNado: Active · farm board+$2 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BTC_USDC | 85,650.5 | 0.0100 | pay 0.0100% / 8h | 3h 59m | $2.4M | $8.8M | 100x |
| Short | Nado BTC-PERP | 85,656.6 | 0.0062 | get 0.0008% / 1h | 59m 19s | $25.1M | $222.4M | 50x |
Orderly PERP_BTC_USDC
Nado BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Orderly. 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
- −$7.92
- Price spread: +0.007% → −0.004%
- $1.14
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$19.78
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Nado: live order book, 5 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Nado live order book, 5 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.2 bp −$418 | 10.5 bp −$5,226 |
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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0179% | 1h | 85,565 | −0.100% | $2.1M | $10.2M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,643 | −0.009% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0036% | 8h | 85,639.7 | −0.013% | $921.9M | $752.6M | 125x | as long as short |
| BloFin BTC-USDT | −0.0020% | 8h | 85,665 | +0.017% | $418.0M | $675.1M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,673.4 | +0.027% | $367K | $2.3M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0005% / S −0.0004% | 1h | 85,668 | +0.020% | $36.6M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0010% | 1h | 85,680 | +0.034% | $16.8M | $21.3M | 50x | as long as short |
| Aster BTCUSDT | +0.0015% | 8h | 85,665 | +0.017% | $516.4M | $1.10B | 200x | as long as short |
| Arcus BTC-USD | +0.0021% | 1h | 85,654 | +0.004% | $4.2M | $98.3M | 40x | as long as short |
| SoDEX BTC-USD | +0.0042% | 1h | 85,649 | −0.002% | $60.0M | $336.1M | 40x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
gTrade (Gains Network) BTC/USD
dYdX BTC-USD
Aster BTCUSDT
Arcus BTC-USD
SoDEX BTC-USDShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BTC/USDC PERP | +0.0044% | 1h | 85,690 | +0.046% | $340K | $26.9M | 52x | as long as short |
| Phemex BTCUSDT | +0.0062% | 8h | 85,652.3 | +0.002% | $148.6M | $489.2M | 150x | as long as short |
| Nado BTC-PERPshort | +0.0062% | 1h | 85,656.6 | +0.007% | $25.1M | $222.4M | 50x | |
| BingX BTC-USDC | +0.0063% | 8h | 85,650 | −0.001% | — | $17.2M | — | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,657.7 | +0.008% | $2.96B | $5.10B | 150x | as long as short |
| Reya BTCRUSDPERP | +0.0088% | 1h | 85,658.2 | +0.009% | $6.6M | $146.9M | 40x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,660.4 | +0.012% | $172.4M | $1.01B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,669.6 | +0.022% | $23.9M | $149.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,662 | +0.013% | $8.7M | $53.9M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,645.8 | −0.006% | $2.5M | $1.7M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,629 | −0.025% | $203K | $8.1M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,731.7 | +0.095% | $5.2M | $9.1M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,750.9 | +0.117% | $3.79B | $5.01B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,695.7 | +0.053% | $40.5M | $582.0M | 50x | as long as short |
| Binance BTCUSDT | +0.0100% | 8h | 85,658.3 | +0.009% | $9.38B | $24.25B | 150x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,650.4 | 0.000% | $5.20B | $9.82B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,660.3 | +0.011% | $2.59B | $12.17B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,663 | +0.015% | $3.8M | $17.8M | 25x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,487.5 | −0.190% | $672.1M | $698.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,664.5 | +0.016% | $5.52B | $10.69B | 200x | as long as short |
| MEXC BTC_USDT | +0.0100% | 8h | 85,661.4 | +0.013% | $5.07B | $5.62B | 500x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,614.6 | −0.042% | $35.7M | $177.5M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,565.9 | −0.099% | $153.8M | $564.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,561.6 | −0.104% | $279.5M | $922.8M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,554.3 | −0.112% | $214.7M | $167.9M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,562.4 | −0.103% | $139.9M | $314.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,615.4 | −0.041% | $30.2M | $208.8M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,706.7 | +0.066% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,661 | +0.012% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,662 | +0.013% | $195K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDClong | +0.0100% | 8h | 85,650.5 | long leg | $2.4M | $8.8M | 100x | |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,698.2 | +0.056% | $207K | $739K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,646.7 | −0.004% | $30.0M | $50.0M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,625.1 | −0.030% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,642.3 | −0.010% | $2.27B | $946.6M | 200x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,621 | −0.034% | $44.8M | $231.2M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,642 | −0.010% | — | $107.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,687.9 | +0.044% | $117.2M | $5.21B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,672.5 | +0.026% | $187.6M | $955.1M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0146% | 1h | 85,697.5 | +0.055% | $886.7M | $1.58B | 50x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,687 | +0.043% | $8.4M | $42.6M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0202% / S −0.0178% | 1h | 85,672.8 | +0.026% | $13.2M | — | 200x | as long as short |
| Aftermath Perps BTCUSD | +0.0211% | 1h | 85,582.8 | −0.079% | $78K | $220K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0220% | 8h | 85,638 | −0.015% | $10.4M | $755.0M | 6.4x | as long as short |
| Hibachi BTC/USDT-P | +0.0256% | 1h | 85,621.2 | −0.034% | $702K | $7.8M | 30x | as long as short |
| Perpl BTC | +0.0335% | 43m | 85,682.6 | +0.037% | $506K | $18.8M | 6.7x | as long as short |
Injective BTC/USDC PERP
Phemex BTCUSDT
BingX BTC-USDC
Bitget BTCUSDT
Reya BTCRUSDPERP
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Binance BTCUSDT
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Bulk BTC-USD
Gate BTC_USDT
MEXC 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
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Aftermath Perps BTCUSD
Kalshi KXBTCPERP
Hibachi BTC/USDT-P
Perpl BTC