Funding you earn now, next payment 05:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.08 per $10,000 · paid last 24h −0.033%
Price spread now: Nado against Deribit−0.073%7-day average −0.055% · 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−$16as in the Price arb table
costs, in and out, $10k−$140.142% of the position
Funding, last 3 days (all we have)−0.024%−$2 on $10k
+Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.073%, 7d avg −0.055%
=Together, before fees+0.016%+ Points / potential airdropNado: Active · farm board+$2 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.055%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit BTC-PERPETUAL | 85,592.8 | 0.0063 | pay 0.0008% / 1h | 19m 41s | $872.0M | $1.60B | 50x |
| Short | Nado BTC-PERP | 85,530.1 | 0.0001 | get 0.0000% / 1h | 19m 41s | $24.5M | $222.9M | 50x |
Deribit BTC-PERPETUAL
Nado BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Deribit. 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
- −$13.09
- Price spread: −0.073% → −0.055%
- −$1.84
- Slippage, 4 orders
- −$0.19
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$29.12
- Costs to cover
- 0.142%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 5 min ago; Nado: live order book, 5 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 Deribit live order book, 5 min ago | 0.03 bp | 3.5 bp −$4 | 3.9 bp −$39 | 7.8 bp −$783 | 13.2 bp −$6,624 |
| Sell Nado live order book, 5 min ago | 0.06 bp | 3.6 bp −$4 | 4.1 bp −$41 | 5.1 bp −$511 | 10.7 bp −$5,374 |
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 | −0.0140% | 1h | 85,468 | −0.146% | $2.1M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,553 | −0.046% | $8K | $3K | 50x | as long as short |
| KuCoin XBTUSDTM | −0.0043% | 8h | 85,541.4 | −0.060% | $920.4M | $758.0M | 125x | as long as short |
| BloFin BTC-USDT | −0.0026% | 8h | 85,543.9 | −0.057% | $420.0M | $676.3M | 150x | as long as short |
| 01 Exchange BTCUSD | −0.0008% | 1h | 85,581.2 | −0.014% | $365K | $2.3M | 50x | as long as short |
| Aster BTCUSDT | −0.0006% | 8h | 85,508.1 | −0.099% | $514.9M | $1.10B | 200x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,560.5 | −0.038% | $507K | $18.7M | 6.7x | as long as short |
| Nado BTC-PERPshort | +0.0001% | 1h | 85,530.1 | −0.073% | $24.5M | $222.9M | 50x | |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,576.6 | −0.019% | $36.6M | — | 200x | as long as short |
| dYdX BTC-USD | +0.0033% | 1h | 85,583.7 | −0.011% | $16.8M | $21.2M | 50x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
KuCoin XBTUSDTM
BloFin BTC-USDT
01 Exchange BTCUSD
Aster BTCUSDT
Perpl BTC
gTrade (Gains Network) BTC/USD
dYdX 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 | 85,552 | −0.048% | $340K | $26.9M | 52x | as long as short |
| SoDEX BTC-USD | +0.0053% | 1h | 85,545 | −0.056% | $59.9M | $336.0M | 40x | as long as short |
| Deribit BTC-PERPETUALlong | +0.0063% | 1h | 85,592.8 | long leg | $872.0M | $1.60B | 50x | |
| BingX BTC-USDT | +0.0064% | 8h | 85,549.9 | −0.050% | — | $1.54B | — | as long as short |
| Phemex BTCUSDT | +0.0066% | 8h | 85,542.2 | −0.059% | $148.6M | $496.0M | 150x | as long as short |
| Bitget BTCUSDT | +0.0079% | 8h | 85,540.9 | −0.061% | $2.95B | $5.12B | 150x | as long as short |
| MEXC BTC_USDT | +0.0094% | 8h | 85,520.2 | −0.085% | $5.07B | $5.67B | 500x | as long as short |
| Binance BTCUSDT | +0.0094% | 8h | 85,528.8 | −0.075% | $9.45B | $24.43B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,550.6 | −0.049% | $172.1M | $1.02B | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,551.1 | −0.049% | $23.9M | $148.8M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,565 | −0.032% | $8.4M | $55.0M | 100x | as long as short |
| Aevo BTC-PERP | +0.0096% | 1h | 85,546.2 | −0.054% | $2.8M | $2.2M | 20x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,555 | −0.044% | $230K | $8.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,565.3 | −0.032% | $5.7M | $9.4M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,626 | +0.039% | $3.79B | $5.02B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,562.6 | −0.035% | $40.4M | $591.8M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,513.9 | −0.092% | $5.18B | $9.87B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,525.6 | −0.078% | $2.59B | $12.13B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,545 | −0.056% | $3.8M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,565.9 | −0.031% | $4.7M | $99.9M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,555.7 | −0.043% | $5.54B | $10.83B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,531.6 | −0.071% | $36.1M | $178.8M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,535 | −0.068% | $154.3M | $565.4M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,431.3 | −0.189% | $279.0M | $929.7M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,439.6 | −0.179% | $214.7M | $168.8M | 50x | as long as short |
| ApeX Omni BTCUSDT | +0.0100% | 1h | 85,456.2 | −0.160% | $139.8M | $315.9M | 100x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,525.5 | −0.079% | $30.2M | $207.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,611.7 | +0.022% | — | $11.0M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,568 | −0.029% | $11.1M | $14.3M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,561.6 | −0.036% | $202K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,557.5 | −0.041% | $2.5M | $8.8M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,611 | +0.021% | $207K | $738K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,548.1 | −0.052% | $30.0M | $50.1M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,545.7 | −0.055% | $2.9M | $6.1M | 100x | as long as short |
| HTX BTC-USDT | +0.0100% | 8h | 85,543 | −0.058% | $2.26B | $949.7M | 200x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,447 | −0.170% | $679.5M | $701.9M | 40x | as long as short |
| Reya BTCRUSDPERP | +0.0102% | 1h | 85,559.9 | −0.038% | $6.6M | $147.1M | 40x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,526.3 | −0.078% | $45.7M | $234.9M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0048% | 1h | 85,556.6 | −0.042% | — | $106.3M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0104% | 1h | 85,579.7 | −0.015% | $117.2M | $5.26B | 50x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0135% | 1h | 85,565.4 | −0.032% | $188.0M | $957.0M | 100x | as long as short |
| Kalshi KXBTCPERP | +0.0169% | 8h | 85,601 | +0.010% | $11.5M | $754.0M | 6.4x | as long as short |
| RISEx BTC/USDC | +0.0174% | 1h | 85,600 | +0.008% | $8.7M | $42.9M | 25x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0176% / S −0.0149% | 1h | 85,578.6 | −0.017% | $13.1M | — | 200x | as long as short |
| Hibachi BTC/USDT-P | +0.0240% | 1h | 85,593.2 | +0.001% | $701K | $7.9M | 30x | as long as short |
| Aftermath Perps BTCUSD | +0.0247% | 1h | 85,522.6 | −0.082% | $78K | $222K | 20x | as long as short |
Injective BTC/USDC PERP
SoDEX BTC-USD
BingX BTC-USDT
Phemex BTCUSDT
Bitget BTCUSDT
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Aevo BTC-PERP
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Gate 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
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
HTX BTC-USDT
Bulk BTC-USD
Reya BTCRUSDPERP
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Kraken Futures PF_XBTUSD
Kalshi KXBTCPERP
RISEx BTC/USDC
GMX BTC/USD [WBTC.b-USDC]
Hibachi BTC/USDT-P
Aftermath Perps BTCUSD