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Funding arb · Price arb /

BTC

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 11:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.019%
Price spread now: Nado against KuCoin+0.010%7-day average +0.006% · 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−$19as in the Price arb table
costs, in and out, $10k−$190.191% of the position
Long on KuCoinShort on Nado
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.058%+$6 on $10k
Price spread, last 7 days−0.014%−$1 · spread now +0.010%, 7d avg +0.006%
Together, before fees+0.044%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongKuCoin XBTUSDTM86,032.40.0054pay 0.0054% / 8h5h 46m$943.1M$633.5M125x
ShortNado BTC-PERP86,041.10.0100get 0.0012% / 1h46m 28s$23.5M$195.5M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against KuCoin. 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

Funding earned
$9.66
Price spread: +0.010% → +0.006%
$0.4
Slippage, 4 orders
−$0.13
Fee KuCoin: 6 bp × 2 orders
−$12
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$9.07
Costs to cover
0.191%
Break-even
13.6 days
Slippage from KuCoin: live order book, 6 min ago; Nado: live order book, 11 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy KuCoin live order book, 6 min ago0.01 bp6.0 bp −$66.1 bp −$618.3 bp −$834doesn't fit
Sell Nado live order book, 11 min ago0.06 bp3.6 bp −$43.6 bp −$364.3 bp −$43310.6 bp −$5,289

BTC on 55 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Phoenix BTC−0.0133%1h86,040+0.009%$2.1M$7.8M40xas long as short
ApeX Omni BTCUSDT−0.0103%1h86,098.5+0.077%$137.8M$295.3M100xas long as short
Hotstuff BTC-PERP−0.0080%1h86,142+0.127%$8K$2K50xas long as short
01 Exchange BTCUSD−0.0040%1h86,038.2+0.007%$362K$2.0M50xas long as short
BloFin BTC-USDT−0.0022%8h86,015.4−0.020%$422.5M$563.5M150xas long as short
SoDEX BTC-USD−0.0012%1h86,017−0.018%$65.9M$187.9M40xas long as short
dYdX BTC-USD0.0000%1h86,061.8+0.034%$16.9M$14.5M50xas long as short
Perpl BTC0.0000%43m86,057.4+0.029%$476K$13.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,039.2+0.008%$36.8M—200xas long as short
Injective BTC/USDC PERP+0.0009%1h86,058+0.030%$442K$26.3M52xas long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster BTCUSDT+0.0027%8h86,029.9−0.003%$512.8M$873.6M200xas long as short
BingX BTC-USDC+0.0028%8h86,011.7−0.024%—$16.3M—as long as short
Kraken Futures PF_XBTUSD+0.0030%1h86,035+0.003%$191.6M$768.4M100xas long as short
Bybit BTCUSDT+0.0040%8h86,042.8+0.012%$5.15B$8.13B150xas long as short
KuCoin XBTUSDTMlong+0.0054%8h86,032.4long leg$943.1M$633.5M125x
Gate BTC_USDT+0.0061%8h86,039.1+0.008%$5.51B$8.90B200xas long as short
Popdex BTCUSDT+0.0064%1h86,0320.000%$8.5M$45.6M100xas long as short
Phemex BTCUSDT+0.0089%8h86,028.9−0.004%$170.6M$478.8M150xas long as short
Bitget BTCUSDT+0.0093%8h86,034.6+0.003%$2.99B$3.96B150xas long as short
HTX BTC-USDT+0.0094%8h86,025−0.009%$2.27B$803.8M200xas long as short
Lighter BTC+0.0096%1h86,047.5+0.018%$173.9M$855.2M50xas long as short
Lighter RH BTC+0.0096%1h86,047+0.017%$23.4M$119.1M50xas long as short
Aevo BTC-PERP+0.0096%1h86,005.9−0.031%$2.4M$6.7M20xas long as short
Binance BTCUSDT+0.0098%8h86,032.10.000%$9.45B$20.50B150xas long as short
MEXC BTC_USDT+0.0098%8h86,028.9−0.004%$5.16B$4.83B500xas long as short
Katana Perps BTC-USD+0.0100%8h86,014−0.021%$217K$8.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,080.9+0.056%$6.0M$7.6M50xas long as short
Nado BTC-PERPshort+0.0100%1h86,041.1+0.010%$23.5M$195.5M50x
Pacifica BTC+0.0100%1h86,075+0.050%$40.1M$571.2M50xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,051.4+0.022%$2.62B$9.49B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,028−0.005%$4.0M$15.0M25xas long as short
Arcus BTC-USD+0.0100%1h86,062.5+0.035%$4.7M$91.1M40xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,016.9−0.018%$38.2M$195.4M75xas long as short
Variational Omni BTC+0.0100%8h86,070.8+0.045%$156.6M$475.5M—as long as short
edgeX BTCUSDC+0.0100%4h86,058.2+0.030%$289.8M$814.4M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,064.6+0.037%$216.2M$134.1M50xas long as short
StandX BTC-USD+0.0100%1h86,073.2+0.047%$30.3M$223.8M40xas long as short
Vest BTC-PERP+0.0100%1h86,092.4+0.070%—$9.4M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,040+0.009%$11.1M$12.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,043+0.012%$205K$3.2M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,011.7−0.024%$2.6M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,069.8+0.044%$195K$563K40xas long as short
SunX BTC-USDT+0.0100%8h86,031.4−0.001%$3.3M$6.7M100xas long as short
Bulk BTC-USD+0.0100%1h86,033.4+0.001%$715.3M$125.7M40xas long as short
Extended BTC-USD+0.0104%1h86,003.5−0.034%$46.9M$200.8M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h86,080+0.055%—$81.6M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,070.1+0.044%$112.1M$4.97B50xas long as short
Hyperliquid BTC+0.0150%1h86,130+0.114%$3.97B$4.36B40xas long as short
Kalshi KXBTCPERP+0.0159%8h86,080+0.055%$12.0M$733.9M6.4xas long as short
Reya BTCRUSDPERP+0.0164%1h86,016.6−0.018%$6.6M$131.1M40xas long as short
RISEx BTC/USDC+0.0187%1h86,061.2+0.034%$8.9M$37.1M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0211% / S −0.0252%1h86,038.9+0.008%$15.6M—200xas long as short
Deribit BTC-PERPETUAL+0.0241%1h86,081.8+0.057%$822.8M$1.50B50xas long as short
Hibachi BTC/USDT-P+0.0352%1h86,080.2+0.056%$725K$7.0M30xas long as short
Aftermath Perps BTCUSD+0.0445%1h86,108.8+0.089%$79K$245K20xas long as short