BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.05 per $10,000 · paid last 24h +0.001%

Price spread now: Nado against StandX+0.003%7-day average +0.010% · 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−$170.174% of the position

Long on StandX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days+0.004%$0 · spread now +0.003%, 7d avg +0.010%

Together, before fees+0.014%+ Points / potential airdropStandX: Active · Nado: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, 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	StandX BTC-USD	85,771.2	0.0100	pay 0.0013% / 1h	25m 12s	$30.3M	$208.6M	40x
Short	Nado BTC-PERP	85,773.4	0.0056	get 0.0007% / 1h	25m 12s	$22.6M	$227.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against StandX. 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 StandXbpFee NadobpOrdersPrice spread, now +0.003%Rate

Funding earned: −$9.2
Price spread: +0.003% → +0.010%: −$0.73
Slippage, 4 orders: −$2.36
Fee StandX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$27.29
Costs to cover: 0.174%
Break-even: never at this rate

Slippage from StandX: live order book, 4 min ago; Nado: live order book, 4 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 StandX live order book, 4 min ago	0.35 bp	5.8 bp −$6	6.9 bp −$69	8.1 bp −$813	9.6 bp −$4,822
Sell Nado live order book, 4 min ago	0.06 bp	3.6 bp −$4	4.1 bp −$41	5.3 bp −$529	11.9 bp −$5,958

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
Phoenix BTC	−0.0144%	1h	85,733	−0.044%	$2.2M	$10.5M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,797	+0.030%	$8K	$3K	50x	as long as short
01 Exchange BTCUSD	−0.0064%	1h	85,768.3	−0.003%	$365K	$2.3M	50x	as long as short
Perpl BTC	0.0000%	43m	85,796.2	+0.029%	$514K	$20.7M	6.7x	as long as short
dYdX BTC-USD	+0.0002%	1h	85,800	+0.034%	$16.8M	$21.0M	50x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,817.8	+0.054%	$36.7M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0020%	1h	85,691	−0.093%	$340K	$26.9M	52x	as long as short
KuCoin XBTUSDTM	+0.0033%	8h	85,781.2	+0.012%	$904.6M	$753.9M	125x	as long as short
Aster BTCUSDT	+0.0035%	8h	85,780.7	+0.011%	$516.8M	$1.14B	200x	as long as short
RISEx BTC/USDC	+0.0044%	1h	85,804.5	+0.039%	$8.2M	$42.1M	25x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0055%	8h	85,795	+0.028%	—	$1.57B	—	as long as short
Nado BTC-PERPshort	+0.0056%	1h	85,773.4	+0.003%	$22.6M	$227.7M	50x
Reya BTCRUSDPERP	+0.0057%	1h	85,788.6	+0.020%	$6.7M	$146.3M	40x	as long as short
Bitget BTCUSDT	+0.0070%	8h	85,785.2	+0.016%	$2.95B	$5.08B	150x	as long as short
ApeX Omni BTCUSDT	+0.0070%	1h	85,752.5	−0.022%	$140.2M	$319.5M	100x	as long as short
HTX BTC-USDT	+0.0073%	8h	85,788.6	+0.020%	$2.27B	$946.7M	200x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,799.4	+0.033%	$2.5M	$1.8M	20x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,788.6	+0.020%	$5.07B	$5.73B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,788.2	+0.020%	$9.34B	$24.31B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,803.4	+0.038%	$170.5M	$989.7M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,812.1	+0.048%	$23.6M	$147.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,782	+0.013%	$8.4M	$51.9M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,755	−0.019%	$202K	$7.5M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,781.3	+0.012%	$3.8M	$8.5M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,853	+0.095%	$3.77B	$5.01B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,799.8	+0.033%	$40.3M	$571.4M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,803.7	+0.038%	$5.31B	$9.74B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,793.9	+0.027%	$2.54B	$12.37B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,784	+0.015%	$4.0M	$18.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,755.4	−0.018%	$7.3M	$98.0M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,744.8	−0.031%	$590.5M	$195.3M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,799.2	+0.033%	$5.61B	$10.54B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,785.7	+0.017%	$35.4M	$164.8M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,799.4	+0.033%	$156.6M	$556.2M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,740.4	−0.036%	$278.7M	$939.3M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,752.4	−0.022%	$215.2M	$166.3M	50x	as long as short
StandX BTC-USDlong	+0.0100%	1h	85,771.2	long leg	$30.3M	$208.6M	40x
Vest BTC-PERP	+0.0100%	1h	85,842.5	+0.083%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,789	+0.021%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,804	+0.038%	$188K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,810.3	+0.046%	$2.4M	$9.0M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,844	+0.085%	$186K	$708K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,798.4	+0.032%	$30.0M	$56.2M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,771.5	0.000%	$2.9M	$6.6M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,795	+0.028%	$60.1M	$337.3M	40x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,794.5	+0.027%	$154.1M	$480.3M	150x	as long as short
Extended BTC-USD	+0.0104%	1h	85,780.3	+0.011%	$44.0M	$228.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,793.6	+0.026%	—	$100.9M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0112%	1h	85,835	+0.074%	$131.2M	$5.16B	50x	as long as short
Hibachi BTC/USDT-P	+0.0136%	1h	85,815.6	+0.052%	$697K	$7.9M	30x	as long as short
Kraken Futures PF_XBTUSD	+0.0146%	1h	85,824.7	+0.062%	$188.6M	$963.2M	100x	as long as short
Aftermath Perps BTCUSD	+0.0166%	1h	85,739.1	−0.037%	$78K	$219K	20x	as long as short
Deribit BTC-PERPETUAL	+0.0184%	1h	85,844.4	+0.085%	$894.6M	$1.53B	50x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0203% / S −0.0192%	1h	85,807.2	+0.042%	$13.5M	—	200x	as long as short
Kalshi KXBTCPERP	+0.0211%	8h	85,811	+0.046%	$10.2M	$770.1M	6.4x	as long as short