Funding you earn now, next payment 23:00 UTC−0.0061%/8h= −6.7% APRnext payment −$0.08 per $10,000 · paid last 24h −0.017%
Price spread now: Nado against Hyperliquid−0.167%7-day average −0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$170.167% of the position
Funding, last 3 days (all we have)−0.020%−$2 on $10k
+Price spread, last 7 days+0.148%+$15 · spread now −0.167%, 7d avg −0.021%
=Together, before fees+0.128%+ Points / potential airdropHyperliquid: Season 2 · Nado: Active · farm board+$13 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Nado is 0.146% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.021%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid ETH | 2,784.7 | 0.0100 | pay 0.0013% / 1h | 41m 40s | $3.20B | $2.39B | 25x |
| Short | Nado ETH-PERP | 2,780.1 | 0.0039 | get 0.0005% / 1h | 41m 40s | $14.3M | $117.8M | 50x |
Hyperliquid ETH
Nado ETH-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Hyperliquid. 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
- −$12.85
- Price spread: −0.167% → −0.021%
- −$14.6
- Slippage, 4 orders
- −$0.72
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$44.16
- Costs to cover
- 0.167%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 13 min ago; Nado: live order book, 2 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 Hyperliquid live order book, 13 min ago | 0.18 bp | 4.7 bp −$5 | 4.7 bp −$47 | 5.4 bp −$543 | 8.5 bp −$4,274 |
| Sell Nado live order book, 2 min ago | 0.18 bp | 3.7 bp −$4 | 3.7 bp −$37 | 5.4 bp −$537 | 14.0 bp −$6,978 |
ETH 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 | |
|---|---|---|---|---|---|---|---|---|
| Perpl ETH | −0.0447% | 43m | 2,780.5 | −0.151% | $289K | $6.9M | 8.3x | as long as short |
| RISEx ETH/USDC | −0.0085% | 1h | 2,780.4 | −0.154% | $5.8M | $12.0M | 25x | as long as short |
| Hotstuff ETH-PERP | −0.0080% | 1h | 2,778.1 | −0.238% | $5K | $2K | 50x | as long as short |
| Injective ETH/USDC PERP | −0.0041% | 1h | 2,775.7 | −0.324% | $119K | $22.5M | 52x | as long as short |
| 01 Exchange ETHUSD | −0.0040% | 1h | 2,781.1 | −0.130% | $170K | $1.2M | 50x | as long as short |
| Aftermath Perps ETHUSD | −0.0030% | 1h | 2,775.9 | −0.315% | $29K | $22K | 20x | as long as short |
| dYdX ETH-USD | 0.0000% | 1h | 2,782.1 | −0.095% | $12.7M | $45.5M | 50x | as long as short |
| Phoenix ETH | 0.0000% | 1h | 2,774.2 | −0.378% | $885K | $3.7M | 25x | as long as short |
| Phemex ETHUSDT | +0.0005% | 8h | 2,781 | −0.134% | $270.5M | $68.5M | 150x | as long as short |
| gTrade (Gains Network) ETH/USD | L +0.0006% / S −0.0006% | 1h | 2,781.7 | −0.108% | $22.5M | — | 200x | as long as short |
Perpl ETH
RISEx ETH/USDC
Hotstuff ETH-PERP
Injective ETH/USDC PERP
01 Exchange ETHUSD
Aftermath Perps ETHUSD
dYdX ETH-USD
Phoenix ETH
Phemex ETHUSDT
gTrade (Gains Network) ETH/USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX ETH-USDT | +0.0016% | 8h | 2,782.2 | −0.090% | — | $1.18B | — | as long as short |
| OKX ETH-USDT-SWAP | +0.0019% | 8h | 2,782.1 | −0.095% | $1.71B | $11.86B | 100x | as long as short |
| GMX ETH/USD [ETH-USDC] | L +0.0028% / S +0.0009% | 1h | 2,781.6 | −0.114% | $13.2M | — | 200x | as long as short |
| Aster ETHUSDT | +0.0037% | 8h | 2,781.8 | −0.104% | $257.1M | $989.5M | 200x | as long as short |
| Bullet ETH-USD | +0.0038% | 1h | 2,780.6 | −0.148% | $182K | $1.8M | 20x | as long as short |
| Nado ETH-PERPshort | +0.0039% | 1h | 2,780.1 | −0.167% | $14.3M | $117.8M | 50x | |
| MEXC ETH_USDT | +0.0056% | 8h | 2,782.8 | −0.069% | $1.62B | $2.65B | 500x | as long as short |
| Aevo ETH-PERP | +0.0056% | 1h | 2,778.6 | −0.220% | $5.0M | $636K | 20x | as long as short |
| Binance ETHUSDT | +0.0058% | 8h | 2,781.8 | −0.106% | $6.46B | $17.11B | 150x | as long as short |
| Bitget ETHUSDT | +0.0073% | 8h | 2,781.5 | −0.115% | $2.11B | $3.10B | 150x | as long as short |
| Gate ETH_USDT | +0.0079% | 8h | 2,782.2 | −0.092% | $3.30B | $9.57B | 200x | as long as short |
| HTX ETH-USDT | +0.0095% | 8h | 2,781 | −0.135% | $1.08B | $1.31B | 200x | as long as short |
| Lighter ETH | +0.0096% | 1h | 2,782.4 | −0.085% | $115.3M | $497.5M | 50x | as long as short |
| Lighter RH ETH | +0.0096% | 1h | 2,783.3 | −0.052% | $25.5M | $120.9M | 50x | as long as short |
| Jupiter Perps ETH-PERP | L +0.0096% / S +0.0048% | 1h | 2,781.5 | −0.116% | — | $41.5M | 500x | as long as short |
| Bybit ETHUSDT | +0.0096% | 8h | 2,782 | −0.097% | $2.53B | $4.59B | 150x | as long as short |
| Paradex ETH-USD-PERP | +0.0100% | 8h | 2,781 | −0.132% | $16.0M | $10.5M | 50x | as long as short |
| Katana Perps ETH-USD | +0.0100% | 8h | 2,780.6 | −0.148% | $482K | $2.7M | 50x | as long as short |
| Hyperliquid ETHlong | +0.0100% | 1h | 2,784.7 | long leg | $3.20B | $2.39B | 25x | |
| Pacifica ETH | +0.0100% | 1h | 2,780.9 | −0.137% | $31.3M | $295.5M | 50x | as long as short |
| Ondo Perps ETH-USD.P | +0.0100% | 1h | 2,779.3 | −0.195% | $2.8M | $16.8M | 25x | as long as short |
| Arcus ETH-USD | +0.0100% | 1h | 2,782.2 | −0.089% | $2.8M | $17.4M | 25x | as long as short |
| Bulk ETH-USD | +0.0100% | 1h | 2,770.6 | −0.507% | $166.0M | $246.3M | 25x | as long as short |
| KuCoin ETHUSDTM | +0.0100% | 8h | 2,781.3 | −0.122% | $426.9M | $737.5M | 100x | as long as short |
| Backpack ETH_USDC_PERP | +0.0100% | 1h | 2,781.8 | −0.104% | $15.3M | $44.0M | 50x | as long as short |
| Variational Omni ETH | +0.0100% | 8h | 2,773.8 | −0.391% | $135.8M | $327.0M | — | as long as short |
| edgeX ETHUSDC | +0.0100% | 4h | 2,775.5 | −0.330% | $179.9M | $780.2M | 100x | as long as short |
| GRVT ETH_USDT_Perp | +0.0100% | 8h | 2,776.5 | −0.294% | $161.5M | $93.1M | 50x | as long as short |
| ApeX Omni ETHUSDT | +0.0100% | 1h | 2,776.6 | −0.293% | $8.7M | $32.6M | 100x | as long as short |
| StandX ETH-USD | +0.0100% | 1h | 2,776.2 | −0.306% | $21.4M | $57.9M | 40x | as long as short |
| Vest ETH-PERP | +0.0100% | 1h | 2,780.4 | −0.155% | — | $1.1M | 50x | as long as short |
| Polymarket Perps ETH-USD | +0.0100% | 1h | 2,781.6 | −0.112% | $10.8M | $7.7M | 50x | as long as short |
| Bluefin ETH-PERP | +0.0100% | 1h | 2,781.5 | −0.115% | $21K | $24K | 25x | as long as short |
| Derive ETH-PERP | +0.0100% | 1h | 2,783.4 | −0.049% | $42.8M | $29.4M | 15x | as long as short |
| SunX ETH-USDT | +0.0100% | 8h | 2,780.3 | −0.157% | $975K | $14.0M | 100x | as long as short |
| SoDEX ETH-USD | +0.0100% | 1h | 2,781 | −0.134% | $55.4M | $228.8M | 40x | as long as short |
| Extended ETH-USD | +0.0104% | 1h | 2,780.7 | −0.144% | $31.4M | $74.6M | 50x | as long as short |
| Hibachi ETH/USDT-P | +0.0104% | 1h | 2,778.9 | −0.210% | $281K | $1.5M | 20x | as long as short |
| Coinbase International ETH-PERP-INTX | +0.0104% | 1h | 2,782.5 | −0.082% | $60.4M | $4.60B | 50x | as long as short |
| Kalshi KXETHPERP | +0.0110% | 8h | 2,781 | −0.134% | $8.6M | $673.1M | 4.9x | as long as short |
| Deribit ETH-PERPETUAL | +0.0117% | 1h | 2,782.5 | −0.080% | $258.4M | $221.7M | 50x | as long as short |
| Orderly PERP_ETH_USDC | +0.0139% | 8h | 2,783.6 | −0.039% | $32.7M | $12.0M | 100x | as long as short |
| Kraken Futures PF_ETHUSD | +0.0169% | 1h | 2,782.2 | −0.092% | $86.3M | $330.4M | 100x | as long as short |
| BloFin ETH-USDT | +0.0176% | 8h | 2,778 | −0.243% | $285.6M | $194.6M | 150x | as long as short |
| Reya ETHRUSDPERP | +0.0189% | 1h | 2,780.6 | −0.149% | $7.4M | $1.1M | 25x | as long as short |
BingX ETH-USDT
OKX ETH-USDT-SWAP
GMX ETH/USD [ETH-USDC]
Aster ETHUSDT
Bullet ETH-USD
MEXC ETH_USDT
Aevo ETH-PERP
Binance ETHUSDT
Bitget ETHUSDT
Gate ETH_USDT
HTX ETH-USDT
Lighter ETH
Lighter RH ETH
Jupiter Perps ETH-PERP
Bybit ETHUSDT
Paradex ETH-USD-PERP
Katana Perps ETH-USD
Pacifica ETH
Ondo Perps ETH-USD.P
Arcus ETH-USD
Bulk ETH-USD
KuCoin ETHUSDTM
Backpack ETH_USDC_PERP
Variational Omni ETH
edgeX ETHUSDC
GRVT ETH_USDT_Perp
ApeX Omni ETHUSDT
StandX ETH-USD
Vest ETH-PERP
Polymarket Perps ETH-USD
Bluefin ETH-PERP
Derive ETH-PERP
SunX ETH-USDT
SoDEX ETH-USD
Extended ETH-USD
Hibachi ETH/USDT-P
Coinbase International ETH-PERP-INTX
Kalshi KXETHPERP
Deribit ETH-PERPETUAL
Orderly PERP_ETH_USDC
Kraken Futures PF_ETHUSD
BloFin ETH-USDT
Reya ETHRUSDPERP