BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0041%/8h= +4.5% APRnext payment +$0.05 per $10,000 · paid last 24h +0.026%

Price spread now: Nado against dYdX+0.051%71s7-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—prices read too far apart to compare

costs, in and out, $10k−$200.202% of the position

Long on dYdX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.097%+$10 on $10k

Price spread, last 7 days−0.069%−$7 · spread now +0.051%, 7d avg +0.010%

Together, before fees+0.028%+ Points / potential airdropNado: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Nado is 0.041% dearer against dYdX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.010%. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BTC-USD	85,282.8	0.0001	pay 0.0000% / 1h	29m 11s	$16.7M	$21.3M	50x
Short	Nado BTC-PERP	85,326.4	0.0042	get 0.0005% / 1h	29m 11s	$24.4M	$222.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against dYdX. 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 dYdXbpFee NadobpOrdersPrice spread, now +0.051%Rate

Funding earned: $8.65
Price spread: +0.051% → +0.010%: $4.14
Slippage, 4 orders: −$3.23
Fee dYdX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$7.45
Costs to cover: 0.202%
Break-even: 13.0 days

Slippage from dYdX: 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 dYdX live order book, 5 min ago	0.41 bp	6.3 bp −$6	9.6 bp −$96	12.6 bp −$1,257	36.2 bp −$18.1K
Sell Nado live order book, 5 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.8 bp −$479	11.5 bp −$5,756

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	−0.0082%	1h	85,329	+0.054%	$2.1M	$10.4M	40x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	85,332	+0.058%	$8K	$3K	50x	as long as short
KuCoin XBTUSDTM	−0.0045%	8h	85,307.4	+0.029%	$927.5M	$773.7M	125x	as long as short
BloFin BTC-USDT	−0.0029%	8h	85,312.1	+0.034%	$421.0M	$682.8M	150x	as long as short
Aster BTCUSDT	−0.0012%	8h	85,311.7	+0.034%	$512.6M	$1.09B	200x	as long as short
01 Exchange BTCUSD	0.0000%	1h	85,351	+0.080%	$353K	$2.4M	50x	as long as short
Perpl BTC	0.0000%	43m	85,335.1	+0.061%	$493K	$18.5M	6.7x	as long as short
dYdX BTC-USDlong	+0.0001%	1h	85,282.8	long leg	$16.7M	$21.3M	50x
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	85,312.4	+0.035%	$36.5M	—	200x	as long as short
Nado BTC-PERPshort	+0.0042%	1h	85,326.4	+0.051%	$24.4M	$222.4M	50x

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BTC/USDC PERP	+0.0057%	1h	85,247	−0.042%	$338K	$26.8M	52x	as long as short
BingX BTC-USDC	+0.0070%	8h	85,295.2	+0.015%	—	$17.5M	—	as long as short
Deribit BTC-PERPETUAL	+0.0081%	1h	85,356.6	+0.087%	$862.2M	$1.64B	50x	as long as short
ApeX Omni BTCUSDT	+0.0083%	1h	85,306.3	+0.027%	$139.5M	$314.2M	100x	as long as short
Aevo BTC-PERP	+0.0088%	1h	85,311.2	+0.033%	$2.4M	$6.7M	20x	as long as short
Kraken Futures PF_XBTUSD	+0.0089%	1h	85,325.1	+0.050%	$185.5M	$958.1M	100x	as long as short
Bitget BTCUSDT	+0.0089%	8h	85,312.2	+0.034%	$2.96B	$5.17B	150x	as long as short
MEXC BTC_USDT	+0.0091%	8h	85,316.9	+0.040%	$5.01B	$5.75B	500x	as long as short
Binance BTCUSDT	+0.0091%	8h	85,316.6	+0.040%	$9.42B	$24.95B	150x	as long as short
Lighter BTC	+0.0096%	1h	85,326.1	+0.051%	$170.2M	$1.02B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,329.7	+0.055%	$23.5M	$148.1M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,337	+0.064%	$8.4M	$56.3M	100x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,315	+0.038%	$236K	$8.7M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,313.3	+0.036%	$5.14B	$9.98B	150x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,398.1	+0.135%	$5.8M	$9.6M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,393	+0.129%	$3.74B	$5.09B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,363.8	+0.095%	$39.9M	$602.6M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,321.8	+0.046%	$2.59B	$12.24B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,334	+0.060%	$3.8M	$17.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	85,333	+0.059%	$5.2M	$99.0M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,322.8	+0.047%	$5.54B	$11.01B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,308.2	+0.030%	$37.0M	$178.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,275.8	−0.008%	$154.7M	$557.8M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,267.5	−0.018%	$279.4M	$951.1M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,293.3	+0.012%	$214.1M	$165.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	85,287.3	+0.005%	$30.1M	$203.6M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,384.1	+0.119%	—	$10.9M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,329	+0.054%	$11.0M	$14.6M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,315	+0.038%	$202K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,319.1	+0.043%	$2.6M	$9.8M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,357.3	+0.087%	$194K	$795K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,214.5	−0.080%	$29.9M	$47.0M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,318	+0.041%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,313	+0.035%	$59.7M	$336.8M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,316.8	+0.040%	$2.26B	$967.7M	200x	as long as short
Phemex BTCUSDT	+0.0100%	8h	85,327.7	+0.053%	$151.9M	$509.9M	150x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,269.9	−0.015%	$683.1M	$415.1M	40x	as long as short
Extended BTC-USD	+0.0104%	1h	85,290.1	+0.009%	$44.8M	$240.7M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	85,338.6	+0.065%	—	$106.8M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,349.6	+0.078%	$116.1M	$5.46B	50x	as long as short
Reya BTCRUSDPERP	+0.0129%	1h	85,307.5	+0.029%	$6.6M	$147.6M	40x	as long as short
Kalshi KXBTCPERP	+0.0183%	8h	85,348	+0.076%	$11.7M	$740.8M	6.4x	as long as short
RISEx BTC/USDC	+0.0193%	1h	85,315.9	+0.039%	$8.8M	$42.9M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0200% / S −0.0176%	1h	85,308.5	+0.030%	$13.1M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0240%	1h	85,332.6	+0.058%	$685K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0257%	1h	85,309.6	+0.031%	$79K	$230K	20x	as long as short