ETH

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0207%/8h= +22.6% APRnext payment +$0.26 per $10,000 · paid last 24h +0.022%

Price spread now: Nado against Injective+0.069%109s7-day average −0.064% · 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—prices read too far apart to compare

costs, in and out, $10k−$670.672% of the position

Long on Injective Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.039%+$4 on $10k

Price spread, last 3 days (all we have)+0.263%+$26 · spread now +0.069%, 7d avg −0.064%

Together, before fees+0.301%+ Points / potential airdropNado: Active · farm board+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Nado is 0.134% dearer against Injective than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.064%. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.039% in total (about 4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ETH/USDC PERP	2,773.8	−0.0107	get 0.0013% / 1h	55m 27s	$119K	$22.5M	52x
Short	Nado ETH-PERP	2,775.7	0.0100	get 0.0012% / 1h	55m 27s	$16.2M	$115.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Injective. 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 InjectivebpFee NadobpOrdersPrice spread, now +0.069%Rate

Funding earned: $43.4
Price spread: +0.069% → −0.064%: $13.39
Slippage, 4 orders: −$60.22
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$10.45
Costs to cover: 0.672%
Break-even: 8.7 days

Slippage from Injective: 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 Injective live order book, 4 min ago	14.01 bp	14.0 bp −$14	14.0 bp −$140	14.0 bp −$1,402	20623.3 bp −$10.31M
Sell Nado live order book, 4 min ago	0.18 bp	3.7 bp −$4	3.7 bp −$37	5.6 bp −$560	12.4 bp −$6,182

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	2,775.7	+0.070%	$290K	$6.9M	8.3x	as long as short
ApeX Omni ETHUSDT	−0.0318%	1h	2,773.3	−0.020%	$10.5M	$30.9M	100x	as long as short
Injective ETH/USDC PERPlong	−0.0107%	1h	2,773.8	long leg	$119K	$22.5M	52x
Hotstuff ETH-PERP	−0.0080%	1h	2,776.1	+0.083%	$5K	$2K	50x	as long as short
01 Exchange ETHUSD	−0.0048%	1h	2,776.2	+0.087%	$172K	$1.2M	50x	as long as short
Phoenix ETH	−0.0032%	1h	2,776.7	+0.105%	$799K	$3.7M	25x	as long as short
RISEx ETH/USDC	−0.0011%	1h	2,775.6	+0.067%	$5.9M	$12.0M	25x	as long as short
dYdX ETH-USD	0.0000%	1h	2,774.4	+0.022%	$13.0M	$45.3M	50x	as long as short
gTrade (Gains Network) ETH/USD	L +0.0006% / S −0.0006%	1h	2,778	+0.150%	$22.4M	—	200x	as long as short
Phemex ETHUSDT	+0.0015%	8h	2,774.3	+0.018%	$267.0M	$66.0M	150x	as long as short

Show all 55 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ETH-USDT	+0.0017%	8h	2,777	+0.116%	—	$1.20B	—	as long as short
SoDEX ETH-USD	+0.0021%	1h	2,774.6	+0.029%	$55.2M	$228.5M	40x	as long as short
OKX ETH-USDT-SWAP	+0.0022%	8h	2,777.1	+0.120%	$1.71B	$11.93B	100x	as long as short
GMX ETH/USD [ETH-USDC]	L +0.0027% / S +0.0009%	1h	2,777.9	+0.147%	$13.1M	—	200x	as long as short
Aftermath Perps ETHUSD	+0.0029%	1h	2,779.4	+0.203%	$29K	$22K	20x	as long as short
Aevo ETH-PERP	+0.0040%	1h	2,775.4	+0.057%	$5.0M	$636K	20x	as long as short
Binance ETHUSDT	+0.0044%	8h	2,777.1	+0.120%	$6.47B	$17.27B	150x	as long as short
MEXC ETH_USDT	+0.0044%	8h	2,776.9	+0.112%	$1.61B	$2.61B	500x	as long as short
Aster ETHUSDT	+0.0046%	8h	2,776.2	+0.087%	$256.6M	$997.9M	200x	as long as short
Gate ETH_USDT	+0.0055%	8h	2,777.2	+0.121%	$3.29B	$9.51B	200x	as long as short
Bitget ETHUSDT	+0.0074%	8h	2,776.9	+0.111%	$2.10B	$3.14B	150x	as long as short
Bullet ETH-USD	+0.0084%	1h	2,776.9	+0.112%	$188K	$1.8M	20x	as long as short
Variational Omni ETH	+0.0092%	8h	2,775.7	+0.070%	$140.7M	$320.1M	—	as long as short
Lighter ETH	+0.0096%	1h	2,775.2	+0.050%	$115.3M	$506.5M	50x	as long as short
Lighter RH ETH	+0.0096%	1h	2,776.1	+0.083%	$25.5M	$121.3M	50x	as long as short
Jupiter Perps ETH-PERP	L +0.0096% / S +0.0048%	1h	2,774.5	+0.024%	—	$42.8M	500x	as long as short
Paradex ETH-USD-PERP	+0.0100%	8h	2,776	+0.080%	$15.9M	$11.1M	50x	as long as short
Katana Perps ETH-USD	+0.0100%	8h	2,776.7	+0.105%	$493K	$2.7M	50x	as long as short
Nado ETH-PERPshort	+0.0100%	1h	2,775.7	+0.069%	$16.2M	$115.2M	50x
Hyperliquid ETH	+0.0100%	1h	2,779.7	+0.213%	$3.21B	$2.41B	25x	as long as short
Pacifica ETH	+0.0100%	1h	2,775.3	+0.054%	$31.2M	$281.2M	50x	as long as short
Bybit ETHUSDT	+0.0100%	8h	2,777.2	+0.122%	$2.52B	$4.65B	150x	as long as short
Ondo Perps ETH-USD.P	+0.0100%	1h	2,773.7	−0.004%	$2.9M	$16.6M	25x	as long as short
Arcus ETH-USD	+0.0100%	1h	2,777.2	+0.123%	$2.8M	$17.7M	25x	as long as short
Bulk ETH-USD	+0.0100%	1h	2,780.5	+0.242%	$165.0M	$263.0M	25x	as long as short
KuCoin ETHUSDTM	+0.0100%	8h	2,776.4	+0.093%	$427.0M	$748.8M	100x	as long as short
Backpack ETH_USDC_PERP	+0.0100%	1h	2,774.9	+0.038%	$15.4M	$42.4M	50x	as long as short
edgeX ETHUSDC	+0.0100%	4h	2,775.2	+0.051%	$177.5M	$786.2M	100x	as long as short
GRVT ETH_USDT_Perp	+0.0100%	8h	2,775.6	+0.066%	$161.5M	$98.8M	50x	as long as short
StandX ETH-USD	+0.0100%	1h	2,776.9	+0.112%	$21.4M	$57.4M	40x	as long as short
Vest ETH-PERP	+0.0100%	1h	2,776.8	+0.107%	—	$1.1M	50x	as long as short
Polymarket Perps ETH-USD	+0.0100%	1h	2,778.4	+0.166%	$10.8M	$7.9M	50x	as long as short
Bluefin ETH-PERP	+0.0100%	1h	2,777.7	+0.142%	$21K	$25K	25x	as long as short
Derive ETH-PERP	+0.0100%	1h	2,777.4	+0.130%	$43.0M	$30.0M	15x	as long as short
SunX ETH-USDT	+0.0100%	8h	2,774.9	+0.039%	$973K	$14.4M	100x	as long as short
HTX ETH-USDT	+0.0100%	8h	2,774.1	+0.012%	$1.08B	$1.32B	200x	as long as short
Extended ETH-USD	+0.0104%	1h	2,774.8	+0.035%	$31.6M	$76.6M	50x	as long as short
Coinbase International ETH-PERP-INTX	+0.0104%	1h	2,776.1	+0.082%	$60.3M	$4.66B	50x	as long as short
Kalshi KXETHPERP	+0.0111%	8h	2,776.2	+0.087%	$8.5M	$672.1M	4.9x	as long as short
Orderly PERP_ETH_USDC	+0.0128%	8h	2,780.1	+0.228%	$32.6M	$11.7M	100x	as long as short
Deribit ETH-PERPETUAL	+0.0143%	1h	2,777.1	+0.118%	$258.9M	$224.0M	50x	as long as short
BloFin ETH-USDT	+0.0166%	8h	2,775.9	+0.075%	$287.4M	$197.8M	150x	as long as short
Reya ETHRUSDPERP	+0.0194%	1h	2,776.3	+0.089%	$7.5M	$992K	25x	as long as short
Kraken Futures PF_ETHUSD	+0.0240%	1h	2,775.9	+0.076%	$88.7M	$331.8M	100x	as long as short
Hibachi ETH/USDT-P	+0.0352%	1h	2,775	+0.043%	$273K	$1.5M	20x	as long as short