Funding you earn now, next payment 03:00 UTC−0.0115%/8h= −12.6% APRpaid last 24h +0.001%
Price spread now: Nado against Bybit−0.024%7-day average +0.005% · 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−$22as in the Price arb table
costs, in and out, $10k−$190.187% of the position
Funding, last 3 days (all we have)+0.013%+$1 on $10k
+Price spread, last 7 days+0.031%+$3 · spread now −0.024%, 7d avg +0.005%
=Together, before fees+0.044%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Nado is 0.030% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.005%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit BTCUSDT | 85,526.5 | 0.0100 | pay 0.0100% / 8h | 5h 55m | $5.32B | $9.57B | 150x |
| Short | Nado BTC-PERP | 85,505.6 | −0.0015 | pay 0.0002% / 1h | 55m 09s | $22.5M | $223.3M | 50x |
Bybit BTCUSDT
Nado BTC-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Bybit. 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
- −$24.12
- Price spread: −0.024% → +0.005%
- −$2.96
- Slippage, 4 orders
- −$0.73
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$45.81
- Costs to cover
- 0.187%
- Break-even
- never at this rate
Slippage from Bybit: 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 Bybit live order book, 4 min ago | 0.01 bp | 6.1 bp −$6 | 6.4 bp −$64 | 7.3 bp −$731 | 8.7 bp −$4,372 |
| Sell Nado live order book, 4 min ago | 0.06 bp | 3.6 bp −$4 | 3.6 bp −$36 | 4.2 bp −$425 | 11.1 bp −$5,567 |
BTC 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 | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0144% | 1h | 85,538 | +0.013% | $2.1M | $10.3M | 40x | as long as short |
| ApeX Omni BTCUSDT | −0.0123% | 1h | 85,466.5 | −0.070% | $139.7M | $316.3M | 100x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,517 | −0.011% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,491.7 | −0.041% | $364K | $2.3M | 50x | as long as short |
| Nado BTC-PERPshort | −0.0015% | 1h | 85,505.6 | −0.024% | $22.5M | $223.3M | 50x | |
| dYdX BTC-USD | 0.0000% | 1h | 85,532.4 | +0.007% | $16.7M | $20.9M | 50x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,507.2 | −0.023% | $36.6M | — | 200x | as long as short |
| Aster BTCUSDT | +0.0019% | 8h | 85,506.7 | −0.023% | $515.5M | $1.11B | 200x | as long as short |
| KuCoin XBTUSDTM | +0.0020% | 8h | 85,498.3 | −0.033% | $898.4M | $745.4M | 125x | as long as short |
| SoDEX BTC-USD | +0.0044% | 1h | 85,499 | −0.032% | $59.9M | $336.4M | 40x | as long as short |
Phoenix BTC
ApeX Omni BTCUSDT
Hotstuff BTC-PERP
01 Exchange BTCUSD
dYdX BTC-USD
gTrade (Gains Network) BTC/USD
Aster BTCUSDT
KuCoin XBTUSDTM
SoDEX BTC-USDShow all 55 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX BTC-USDC | +0.0054% | 8h | 85,509.5 | −0.020% | — | $17.0M | — | as long as short |
| HTX BTC-USDT | +0.0058% | 8h | 85,506.2 | −0.024% | $2.27B | $929.9M | 200x | as long as short |
| Reya BTCRUSDPERP | +0.0064% | 1h | 85,473.7 | −0.062% | $6.7M | $146.4M | 40x | as long as short |
| Bitget BTCUSDT | +0.0068% | 8h | 85,517 | −0.011% | $2.94B | $5.01B | 150x | as long as short |
| SunX BTC-USDT | +0.0075% | 8h | 85,496.1 | −0.036% | $2.9M | $6.2M | 100x | as long as short |
| Injective BTC/USDC PERP | +0.0079% | 1h | 85,617 | +0.106% | $340K | $26.9M | 52x | as long as short |
| Popdex BTCUSDT | +0.0080% | 1h | 85,483 | −0.051% | $8.4M | $51.5M | 100x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,492.7 | −0.039% | $2.4M | $1.7M | 20x | as long as short |
| MEXC BTC_USDT | +0.0084% | 8h | 85,518.5 | −0.009% | $5.07B | $5.57B | 500x | as long as short |
| Binance BTCUSDT | +0.0084% | 8h | 85,519.9 | −0.008% | $9.33B | $23.84B | 150x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,523.4 | −0.004% | $169.5M | $982.7M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,511 | −0.018% | $23.9M | $146.9M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0099% | 8h | 85,527.8 | +0.002% | $3.8M | $8.3M | 50x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,470 | −0.066% | $204K | $7.6M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,581.3 | +0.064% | $3.76B | $4.93B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,535.8 | +0.011% | $40.1M | $571.6M | 50x | as long as short |
| Bybit BTCUSDTlong | +0.0100% | 8h | 85,526.5 | long leg | $5.32B | $9.57B | 150x | |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,526.5 | 0.000% | $2.56B | $12.09B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,492 | −0.040% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,462.5 | −0.075% | $7.1M | $96.5M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,482.5 | −0.051% | $608.2M | $317.1M | 40x | as long as short |
| Gate BTC_USDT | +0.0100% | 8h | 85,520 | −0.008% | $5.57B | $10.39B | 200x | as long as short |
| Backpack BTC_USDC_PERP | +0.0100% | 1h | 85,503.4 | −0.027% | $34.9M | $169.4M | 75x | as long as short |
| Variational Omni BTC | +0.0100% | 8h | 85,577.1 | +0.059% | $153.7M | $552.3M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,470.5 | −0.065% | $278.0M | $927.2M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,468 | −0.068% | $214.5M | $161.4M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,571 | +0.052% | $30.2M | $211.1M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,550.9 | +0.028% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,485 | −0.049% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,493.2 | −0.039% | $187K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,486.1 | −0.047% | $2.4M | $8.9M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,531.5 | +0.006% | $196K | $722K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,493 | −0.039% | $30.0M | $52.7M | 15x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,512.5 | −0.016% | $149.2M | $478.9M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,471.9 | −0.064% | $44.3M | $227.0M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,587.1 | +0.071% | — | $103.5M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,544.9 | +0.022% | $130.5M | $5.06B | 50x | as long as short |
| RISEx BTC/USDC | +0.0120% | 1h | 85,513.4 | −0.015% | $8.4M | $42.1M | 25x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0139% | 1h | 85,533.6 | +0.008% | $187.0M | $949.4M | 100x | as long as short |
| Deribit BTC-PERPETUAL | +0.0184% | 1h | 85,545.7 | +0.022% | $894.8M | $1.52B | 50x | as long as short |
| Aftermath Perps BTCUSD | +0.0191% | 1h | 85,570.2 | +0.051% | $78K | $219K | 20x | as long as short |
| Hibachi BTC/USDT-P | +0.0192% | 1h | 85,621 | +0.110% | $683K | $7.8M | 30x | as long as short |
| GMX BTC/USD [WBTC.b-USDC] | L +0.0203% / S −0.0181% | 1h | 85,502.6 | −0.028% | $13.6M | — | 200x | as long as short |
| Kalshi KXBTCPERP | +0.0211% | 8h | 85,543 | +0.019% | $10.3M | $761.3M | 6.4x | as long as short |
| Perpl BTC | +0.0447% | 43m | 85,549.6 | +0.027% | $510K | $19.7M | 6.7x | as long as short |
BingX BTC-USDC
HTX BTC-USDT
Reya BTCRUSDPERP
Bitget BTCUSDT
SunX BTC-USDT
Injective BTC/USDC PERP
Popdex BTCUSDT
Aevo BTC-PERP
MEXC BTC_USDT
Binance BTCUSDT
Lighter BTC
Lighter RH BTC
Paradex BTC-USD-PERP
Katana Perps BTC-USD
Hyperliquid BTC
Pacifica BTC
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Gate BTC_USDT
Backpack BTC_USDC_PERP
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
RISEx BTC/USDC
Kraken Futures PF_XBTUSD
Deribit BTC-PERPETUAL
Aftermath Perps BTCUSD
Hibachi BTC/USDT-P
GMX BTC/USD [WBTC.b-USDC]
Kalshi KXBTCPERP
Perpl BTC