BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0015%/8h= −1.6% APRnext payment −$0.02 per $10,000 · paid last 24h 0.000%

Price spread now: Nado against Polymarket Perps+0.005%7-day average +0.016% · 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−$18as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Polymarket Perps Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.005%$0 · spread now +0.005%, 7d avg +0.016%

Together, before fees−0.005%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.016%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BTC-USD	85,770	0.0100	pay 0.0013% / 1h	50m 45s	$11.0M	$14.2M	50x
Short	Nado BTC-PERP	85,774.3	0.0085	get 0.0011% / 1h	50m 45s	$22.5M	$228.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Polymarket Perps. 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 Polymarket PerpsbpFee NadobpOrdersPrice spread, now +0.005%Rate

Funding earned: −$3.09
Price spread: +0.005% → +0.016%: −$1.14
Slippage, 4 orders: −$1.58
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$20.81
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Nado: live order book, 3 min ago.

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 Polymarket Perps live order book, 3 min ago	0.06 bp	5.2 bp −$5	5.9 bp −$59	8.1 bp −$808	doesn't fit
Sell Nado live order book, 3 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.3 bp −$430	11.3 bp −$5,671

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	−0.0144%	1h	85,641	−0.150%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,779	+0.010%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0056%	1h	85,771.5	+0.002%	$364K	$2.3M	50x	as long as short
BloFin BTC-USDT	−0.0039%	8h	85,793.5	+0.027%	$415.3M	$657.4M	150x	as long as short
ApeX Omni BTCUSDT	−0.0008%	1h	85,747.6	−0.026%	$140.2M	$320.8M	100x	as long as short
dYdX BTC-USD	0.0000%	1h	85,837.1	+0.078%	$16.8M	$20.6M	50x	as long as short
Perpl BTC	0.0000%	43m	85,794.1	+0.028%	$512K	$21.3M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,796	+0.030%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,810	+0.047%	$341K	$26.9M	52x	as long as short
Aster BTCUSDT	+0.0031%	8h	85,815.2	+0.053%	$497.9M	$1.13B	200x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XBTUSDTM	+0.0042%	8h	85,812.8	+0.050%	$894.1M	$756.2M	125x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,783	+0.015%	$8.1M	$42.6M	25x	as long as short
HTX BTC-USDT	+0.0049%	8h	85,768.8	−0.001%	$2.28B	$967.7M	200x	as long as short
BingX BTC-USDT	+0.0052%	8h	85,838.7	+0.080%	—	$1.59B	—	as long as short
Reya BTCRUSDPERP	+0.0052%	1h	85,760.9	−0.011%	$6.7M	$146.0M	40x	as long as short
Deribit BTC-PERPETUAL	+0.0057%	1h	85,816.9	+0.055%	$895.9M	$1.53B	50x	as long as short
Bitget BTCUSDT	+0.0066%	8h	85,833.3	+0.074%	$2.95B	$5.12B	150x	as long as short
Gate BTC_USDT	+0.0080%	8h	85,832.3	+0.073%	$5.66B	$10.35B	200x	as long as short
Aevo BTC-PERP	+0.0080%	1h	85,775.4	+0.006%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0081%	8h	85,828.1	+0.068%	$5.08B	$5.65B	500x	as long as short
Binance BTCUSDT	+0.0083%	8h	85,829.1	+0.069%	$9.34B	$24.57B	150x	as long as short
Nado BTC-PERPshort	+0.0085%	1h	85,774.3	+0.005%	$22.5M	$228.7M	50x
Lighter BTC	+0.0096%	1h	85,842.1	+0.084%	$170.9M	$976.1M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,844.6	+0.087%	$23.3M	$145.1M	50x	as long as short
GRVT BTC_USDT_Perp	+0.0096%	8h	85,757.5	−0.015%	$215.4M	$162.7M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,780	+0.012%	$8.4M	$52.5M	100x	as long as short
SoDEX BTC-USD	+0.0097%	1h	85,794	+0.028%	$60.1M	$338.1M	40x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,756	−0.016%	$201K	$7.4M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,860.2	+0.105%	$3.8M	$8.8M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,890	+0.140%	$3.76B	$5.02B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,856.5	+0.101%	$40.8M	$566.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,849.4	+0.093%	$5.26B	$9.80B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,845.9	+0.088%	$2.55B	$12.55B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,825	+0.064%	$3.9M	$17.9M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,818.4	+0.056%	$7.3M	$98.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,888.3	+0.138%	$579.3M	$92.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,782.8	+0.015%	$35.2M	$162.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,782.9	+0.015%	$155.6M	$556.1M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,687.9	−0.096%	$277.7M	$941.4M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,731.7	−0.045%	$30.3M	$206.4M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,823.4	+0.062%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USDlong	+0.0100%	1h	85,770	long leg	$11.0M	$14.2M	50x
Bullet BTC-USD	+0.0100%	1h	85,781.9	+0.014%	$192K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,790.6	+0.024%	$2.4M	$9.1M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,827.2	+0.067%	$186K	$709K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,793.9	+0.028%	$30.0M	$57.4M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,706.5	−0.074%	$2.9M	$6.6M	100x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,800.1	+0.035%	$153.7M	$476.2M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,780.6	+0.012%	$45.0M	$225.8M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,800.1	+0.035%	—	$101.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,828.4	+0.068%	$131.7M	$5.26B	50x	as long as short
Hibachi BTC/USDT-P	+0.0120%	1h	85,813.4	+0.051%	$707K	$8.0M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,812.4	+0.049%	$189.5M	$969.2M	100x	as long as short
Aftermath Perps BTCUSD	+0.0154%	1h	85,819	+0.057%	$77K	$217K	20x	as long as short
Kalshi KXBTCPERP	+0.0203%	8h	85,806	+0.042%	$9.9M	$768.4M	6.4x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0204% / S −0.0194%	1h	85,787.6	+0.021%	$13.8M	—	200x	as long as short