BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0098%/8h= −10.7% APRnext payment −$0.12 per $10,000 · paid last 24h −0.052%

Price spread now: Hotstuff against Nado+0.033%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.033% dearer against Nado than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado BTC-PERP	85,445.6	0.0018	pay 0.0002% / 1h	19m 28s	$25.3M	$222.3M	50x
Short	Hotstuff BTC-PERP	85,474	−0.0080	pay 0.0010% / 1h	19m 28s	$8K	$3K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Nado. 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 NadobpFee HotstuffbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$20.58
Price spread: +0.033% → 0.000%: $3.33
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$29.25
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 5 min ago; Hotstuff: no order-book sample. Net counts fees only.

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 Nado live order book, 5 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.8 bp −$478	10.2 bp −$5,096
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0179%	1h	85,530	+0.099%	$2.1M	$10.3M	40x	as long as short
Hotstuff BTC-PERPshort	−0.0080%	1h	85,474	+0.033%	$8K	$3K	50x
01 Exchange BTCUSD	−0.0056%	1h	85,450.4	+0.006%	$365K	$2.3M	50x	as long as short
KuCoin XBTUSDTM	−0.0023%	8h	85,434.6	−0.013%	$918.4M	$751.7M	125x	as long as short
BloFin BTC-USDT	−0.0022%	8h	85,466.9	+0.025%	$416.3M	$667.3M	150x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0005% / S −0.0004%	1h	85,468.6	+0.027%	$36.5M	—	200x	as long as short
Aster BTCUSDT	+0.0011%	8h	85,446.8	+0.001%	$515.1M	$1.10B	200x	as long as short
dYdX BTC-USD	+0.0013%	1h	85,497.7	+0.061%	$16.7M	$21.2M	50x	as long as short
Nado BTC-PERPlong	+0.0018%	1h	85,445.6	long leg	$25.3M	$222.3M	50x
Arcus BTC-USD	+0.0021%	1h	85,442.7	−0.003%	$4.4M	$98.1M	40x	as long as short

Show all 56 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0062%	8h	85,460.8	+0.018%	—	$1.54B	—	as long as short
Phemex BTCUSDT	+0.0075%	8h	85,455.2	+0.011%	$147.5M	$488.1M	150x	as long as short
Bitget BTCUSDT	+0.0078%	8h	85,459.5	+0.016%	$2.95B	$5.07B	150x	as long as short
Reya BTCRUSDPERP	+0.0083%	1h	85,449.9	+0.005%	$6.7M	$146.8M	40x	as long as short
Lighter BTC	+0.0096%	1h	85,457	+0.013%	$172.4M	$1.01B	50x	as long as short
Lighter RH BTC	+0.0096%	1h	85,461.2	+0.018%	$23.8M	$149.2M	50x	as long as short
Popdex BTCUSDT	+0.0096%	1h	85,462	+0.019%	$8.4M	$52.9M	100x	as long as short
Aevo BTC-PERP	+0.0096%	1h	85,455.1	+0.011%	$2.4M	$1.7M	20x	as long as short
MEXC BTC_USDT	+0.0097%	8h	85,453.7	+0.010%	$5.06B	$5.64B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	85,461.7	+0.019%	$9.36B	$24.15B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	85,424	−0.025%	$210K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	85,519.4	+0.086%	$4.9M	$9.0M	50x	as long as short
Hyperliquid BTC	+0.0100%	1h	85,540	+0.111%	$3.74B	$4.98B	40x	as long as short
Pacifica BTC	+0.0100%	1h	85,481.4	+0.042%	$40.1M	$579.3M	50x	as long as short
Bybit BTCUSDT	+0.0100%	8h	85,455.9	+0.012%	$5.21B	$9.79B	150x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	85,463.9	+0.021%	$2.58B	$12.13B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	85,441	−0.005%	$3.9M	$18.2M	25x	as long as short
Bulk BTC-USD	+0.0100%	1h	85,516	+0.082%	$659.1M	$647.8M	40x	as long as short
Gate BTC_USDT	+0.0100%	8h	85,465.8	+0.024%	$5.51B	$10.73B	200x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	85,443.1	−0.003%	$35.7M	$176.6M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	85,443.5	−0.002%	$153.4M	$565.7M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	85,504	+0.068%	$279.3M	$921.6M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	85,513.1	+0.079%	$214.6M	$168.8M	50x	as long as short
ApeX Omni BTCUSDT	+0.0100%	1h	85,457.2	+0.014%	$139.7M	$314.5M	100x	as long as short
StandX BTC-USD	+0.0100%	1h	85,489.4	+0.051%	$30.2M	$208.2M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	85,514.5	+0.081%	—	$11.8M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	85,450	+0.005%	$11.0M	$14.2M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	85,457	+0.013%	$190K	$3.3M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	85,458.2	+0.015%	$2.4M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	85,497.9	+0.061%	$207K	$738K	40x	as long as short
Derive BTC-PERP	+0.0100%	1h	85,448.4	+0.003%	$29.9M	$50.3M	15x	as long as short
SunX BTC-USDT	+0.0100%	8h	85,445.7	0.000%	$2.9M	$6.1M	100x	as long as short
SoDEX BTC-USD	+0.0100%	1h	85,462	+0.019%	$59.9M	$336.2M	40x	as long as short
HTX BTC-USDT	+0.0100%	8h	85,450.1	+0.005%	$2.26B	$942.7M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	85,433.5	−0.014%	$44.6M	$230.9M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0048%	1h	85,465.2	+0.023%	—	$107.5M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0104%	1h	85,496.9	+0.060%	$117.1M	$5.19B	50x	as long as short
Deribit BTC-PERPETUAL	+0.0134%	1h	85,503	+0.067%	$891.3M	$1.58B	50x	as long as short
Injective BTC/USDC PERP	+0.0150%	1h	85,475	+0.034%	$339K	$26.9M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0170%	1h	85,479	+0.039%	$187.6M	$955.3M	100x	as long as short
RISEx BTC/USDC	+0.0194%	1h	85,482.7	+0.043%	$8.2M	$42.5M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0202% / S −0.0177%	1h	85,466.4	+0.024%	$13.4M	—	200x	as long as short
Hibachi BTC/USDT-P	+0.0216%	1h	85,497.8	+0.061%	$703K	$7.9M	30x	as long as short
Aftermath Perps BTCUSD	+0.0216%	1h	85,532.2	+0.101%	$78K	$219K	20x	as long as short
Kalshi KXBTCPERP	+0.0218%	8h	85,497	+0.060%	$10.3M	$756.3M	6.4x	as long as short
Perpl BTC	+0.0447%	43m	85,462.2	+0.019%	$497K	$18.8M	6.7x	as long as short