Funding arb · Price arb /

BTC

all BTC markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Nado against Binance+0.004%7-day average +0.004% · 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−$17as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days−0.002%$0 · spread now +0.004%, 7d avg +0.004%

Together, before fees+0.008%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BTCUSDT	86,115.1	0.0100	pay 0.0100% / 8h	5h 54m	$9.46B	$20.63B	150x
Short	Nado BTC-PERP	86,118.5	0.0100	get 0.0012% / 1h	54m 27s	$23.5M	$196.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → +0.004%: $0.01
Slippage, 4 orders: −$0.13
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$17.12
Costs to cover: 0.171%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Nado: live order book, 3 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 Binance live order book, 13 min ago	0.01 bp	5.0 bp −$5	5.4 bp −$54	6.7 bp −$668	8.1 bp −$4,051
Sell Nado live order book, 3 min ago	0.06 bp	3.6 bp −$4	3.6 bp −$36	4.3 bp −$433	10.6 bp −$5,289

BTC on 55 exchanges

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
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.095%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0024%	1h	86,128	+0.015%	$363K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0020%	8h	86,143.8	+0.033%	$421.0M	$566.5M	150x	as long as short
SoDEX BTC-USD	−0.0010%	1h	86,151	+0.042%	$66.0M	$188.0M	40x	as long as short
ApeX Omni BTCUSDT	−0.0004%	1h	86,185.3	+0.082%	$138.2M	$295.1M	100x	as long as short
dYdX BTC-USD	0.0000%	1h	86,162.9	+0.055%	$16.9M	$14.6M	50x	as long as short
Perpl BTC	0.0000%	43m	86,161.8	+0.054%	$482K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,178.5	+0.074%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,214	+0.115%	$301K	$26.1M	52x	as long as short
Kraken Futures PF_XBTUSD	+0.0029%	1h	86,165.8	+0.059%	$191.8M	$773.0M	100x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BTC-USDT	+0.0030%	8h	86,119	+0.005%	—	$1.34B	—	as long as short
Aster BTCUSDT	+0.0030%	8h	86,116.2	+0.001%	$513.2M	$876.5M	200x	as long as short
Bybit BTCUSDT	+0.0036%	8h	86,115.8	+0.001%	$5.15B	$8.13B	150x	as long as short
Phoenix BTC	+0.0053%	1h	86,185	+0.081%	$2.0M	$7.8M	40x	as long as short
KuCoin XBTUSDTM	+0.0053%	8h	86,144.7	+0.034%	$943.6M	$636.0M	125x	as long as short
Popdex BTCUSDT	+0.0064%	1h	86,117	+0.002%	$8.8M	$45.5M	100x	as long as short
Gate BTC_USDT	+0.0067%	8h	86,123.6	+0.010%	$5.52B	$8.87B	200x	as long as short
Phemex BTCUSDT	+0.0077%	8h	86,145.7	+0.036%	$170.8M	$479.5M	150x	as long as short
Bitget BTCUSDT	+0.0095%	8h	86,110.1	−0.006%	$2.99B	$3.98B	150x	as long as short
Lighter BTC	+0.0096%	1h	86,134.5	+0.023%	$173.8M	$850.9M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,137.4	+0.026%	$23.6M	$118.6M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,134.5	+0.023%	$2.4M	$6.7M	20x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,101	−0.016%	$219K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,161.2	+0.054%	$6.0M	$7.7M	50x	as long as short
Nado BTC-PERPshort	+0.0100%	1h	86,118.5	+0.004%	$23.5M	$196.4M	50x
Pacifica BTC	+0.0100%	1h	86,164.1	+0.057%	$40.4M	$570.0M	50x	as long as short
Binance BTCUSDTlong	+0.0100%	8h	86,115.1	long leg	$9.46B	$20.63B	150x
OKX BTC-USDT-SWAP	+0.0100%	8h	86,120	+0.006%	$2.62B	$9.52B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,102	−0.015%	$4.0M	$15.1M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,147.6	+0.038%	$4.2M	$90.6M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.063%	$716.4M	$134.3M	40x	as long as short
MEXC BTC_USDT	+0.0100%	8h	86,119.1	+0.005%	$5.19B	$4.81B	500x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,140.6	+0.030%	$38.7M	$196.3M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,125.5	+0.012%	$158.0M	$474.6M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,136.3	+0.025%	$290.0M	$813.0M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,152.6	+0.044%	$216.4M	$133.7M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,149	+0.039%	$30.3M	$222.7M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,180.2	+0.076%	—	$9.3M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,124	+0.010%	$11.1M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,117	+0.002%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,138.8	+0.028%	$2.7M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,194.5	+0.092%	$195K	$564K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,158.5	+0.050%	$3.2M	$6.7M	100x	as long as short
HTX BTC-USDT	+0.0100%	8h	86,142.6	+0.032%	$2.28B	$804.5M	200x	as long as short
Extended BTC-USD	+0.0104%	1h	86,088.4	−0.031%	$47.0M	$203.3M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,161.9	+0.054%	—	$81.7M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,193	+0.090%	$112.2M	$4.99B	50x	as long as short
Kalshi KXBTCPERP	+0.0160%	8h	86,174	+0.068%	$11.8M	$732.3M	6.4x	as long as short
Reya BTCRUSDPERP	+0.0163%	1h	86,095.2	−0.023%	$6.6M	$131.1M	40x	as long as short
Hyperliquid BTC	+0.0170%	1h	86,212	+0.113%	$3.97B	$4.35B	40x	as long as short
RISEx BTC/USDC	+0.0187%	1h	86,146	+0.036%	$8.9M	$37.3M	25x	as long as short
GMX BTC/USD [WBTC.b-USDC]	L +0.0210% / S −0.0250%	1h	86,160.4	+0.053%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0216%	1h	86,205.2	+0.105%	$822.6M	$1.51B	50x	as long as short
Hibachi BTC/USDT-P	+0.0344%	1h	86,190	+0.087%	$716K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0448%	1h	86,214.3	+0.115%	$82K	$242K	20x	as long as short