BTC

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0087%/8h= −9.5% APRnext payment −$0.11 per $10,000 · paid last 24h −0.009%

Price spread now: Nado against RISEx+0.019%66s7-day average −0.003% · 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−$140.137% of the position

Long on RISEx Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.011%−$1 on $10k

Price spread, last 7 days−0.036%−$4 · spread now +0.019%, 7d avg −0.003%

Together, before fees−0.048%+ Points / potential airdropNado: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.022% dearer against RISEx than usual: you sell high and buy low (spread +0.019% now, against its 7-day average of −0.003%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 4 days (−0.011% in total) that is about 7.1 days. The two prices were read 66 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	RISEx BTC/USDC	86,058.6	0.0187	pay 0.0023% / 1h	46m 58s	$8.9M	$37.0M	25x
Short	Nado BTC-PERP	86,075.3	0.0100	get 0.0012% / 1h	46m 58s	$23.5M	$195.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against RISEx. 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 RISExbpFee NadobpOrdersPrice spread, now +0.019%Rate

Funding earned: −$18.25
Price spread: +0.019% → −0.003%: $2.2
Slippage, 4 orders: −$0.69
Fee RISEx: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$29.75
Costs to cover: 0.137%
Break-even: never at this rate

Slippage from RISEx: live order book, 5 min ago; Nado: live order book, 10 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 RISEx live order book, 5 min ago	0.01 bp	3.0 bp −$3	3.1 bp −$31	11.1 bp −$1,113	doesn't fit
Sell Nado live order book, 10 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
Phoenix BTC	−0.0133%	1h	86,040	−0.022%	$2.1M	$7.8M	40x	as long as short
ApeX Omni BTCUSDT	−0.0103%	1h	86,098.5	+0.046%	$137.8M	$295.3M	100x	as long as short
Hotstuff BTC-PERP	−0.0080%	1h	86,197	+0.161%	$8K	$2K	50x	as long as short
01 Exchange BTCUSD	−0.0040%	1h	86,032.6	−0.030%	$362K	$2.0M	50x	as long as short
BloFin BTC-USDT	−0.0022%	8h	86,015.4	−0.050%	$422.5M	$563.5M	150x	as long as short
SoDEX BTC-USD	−0.0012%	1h	86,017	−0.048%	$65.9M	$187.9M	40x	as long as short
dYdX BTC-USD	0.0000%	1h	86,061.8	+0.004%	$16.9M	$14.5M	50x	as long as short
Perpl BTC	0.0000%	43m	86,057.4	−0.001%	$476K	$13.8M	6.7x	as long as short
gTrade (Gains Network) BTC/USD	L +0.0004% / S −0.0004%	1h	86,039.2	−0.023%	$36.8M	—	200x	as long as short
Injective BTC/USDC PERP	+0.0009%	1h	86,058	−0.001%	$442K	$26.3M	52x	as long as short

Show all 55 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BTCUSDT	+0.0027%	8h	86,034.9	−0.028%	$512.9M	$873.8M	200x	as long as short
Kraken Futures PF_XBTUSD	+0.0030%	1h	86,035	−0.027%	$191.6M	$768.4M	100x	as long as short
BingX BTC-USDT	+0.0030%	8h	86,035.9	−0.026%	—	$1.33B	—	as long as short
Bybit BTCUSDT	+0.0040%	8h	86,053.6	−0.006%	$5.15B	$8.13B	150x	as long as short
KuCoin XBTUSDTM	+0.0054%	8h	86,024.6	−0.040%	$943.1M	$633.5M	125x	as long as short
Gate BTC_USDT	+0.0063%	8h	86,034.4	−0.028%	$5.51B	$8.90B	200x	as long as short
Popdex BTCUSDT	+0.0072%	1h	86,027	−0.037%	$8.5M	$45.6M	100x	as long as short
Phemex BTCUSDT	+0.0089%	8h	86,028.9	−0.034%	$170.6M	$478.8M	150x	as long as short
Bitget BTCUSDT	+0.0093%	8h	86,044.8	−0.016%	$2.99B	$3.96B	150x	as long as short
HTX BTC-USDT	+0.0094%	8h	86,025	−0.039%	$2.27B	$803.8M	200x	as long as short
Lighter BTC	+0.0096%	1h	86,034.9	−0.027%	$173.8M	$855.0M	50x	as long as short
Lighter RH BTC	+0.0096%	1h	86,038.7	−0.023%	$23.4M	$119.1M	50x	as long as short
Aevo BTC-PERP	+0.0096%	1h	86,005.9	−0.061%	$2.4M	$6.7M	20x	as long as short
MEXC BTC_USDT	+0.0098%	8h	86,023	−0.041%	$5.16B	$4.83B	500x	as long as short
Binance BTCUSDT	+0.0098%	8h	86,039.7	−0.022%	$9.45B	$20.51B	150x	as long as short
Katana Perps BTC-USD	+0.0100%	8h	86,015	−0.051%	$218K	$8.1M	50x	as long as short
Paradex BTC-USD-PERP	+0.0100%	8h	86,115.5	+0.066%	$6.0M	$7.6M	50x	as long as short
Nado BTC-PERPshort	+0.0100%	1h	86,075.3	+0.019%	$23.5M	$195.5M	50x
Pacifica BTC	+0.0100%	1h	86,115.3	+0.066%	$40.1M	$571.2M	50x	as long as short
OKX BTC-USDT-SWAP	+0.0100%	8h	86,056.9	−0.002%	$2.62B	$9.50B	100x	as long as short
Ondo Perps BTC-USD.P	+0.0100%	1h	86,034	−0.029%	$4.0M	$15.0M	25x	as long as short
Arcus BTC-USD	+0.0100%	1h	86,061.3	+0.003%	$4.2M	$90.7M	40x	as long as short
Bulk BTC-USD	+0.0100%	1h	86,169.3	+0.129%	$716.4M	$134.3M	40x	as long as short
Backpack BTC_USDC_PERP	+0.0100%	1h	86,016.9	−0.048%	$38.2M	$195.4M	75x	as long as short
Variational Omni BTC	+0.0100%	8h	86,070.8	+0.014%	$156.6M	$475.5M	—	as long as short
edgeX BTCUSDC	+0.0100%	4h	86,058.2	0.000%	$289.8M	$814.4M	100x	as long as short
GRVT BTC_USDT_Perp	+0.0100%	8h	86,064.6	+0.007%	$216.2M	$134.1M	50x	as long as short
StandX BTC-USD	+0.0100%	1h	86,074.5	+0.018%	$30.3M	$223.5M	40x	as long as short
Vest BTC-PERP	+0.0100%	1h	86,095.9	+0.043%	—	$9.3M	50x	as long as short
Polymarket Perps BTC-USD	+0.0100%	1h	86,032	−0.031%	$11.1M	$12.0M	50x	as long as short
Bullet BTC-USD	+0.0100%	1h	86,029.1	−0.034%	$205K	$3.2M	20x	as long as short
Orderly PERP_BTC_USDC	+0.0100%	8h	86,011.7	−0.054%	$2.6M	$8.9M	100x	as long as short
Bluefin BTC-PERP	+0.0100%	1h	86,069.8	+0.013%	$195K	$563K	40x	as long as short
SunX BTC-USDT	+0.0100%	8h	86,031.4	−0.032%	$3.3M	$6.7M	100x	as long as short
Extended BTC-USD	+0.0104%	1h	86,013.7	−0.052%	$46.9M	$201.0M	50x	as long as short
Jupiter Perps WBTC-PERP	L +0.0104% / S +0.0056%	1h	86,080	+0.025%	—	$81.6M	500x	as long as short
Coinbase International BTC-PERP-INTX	+0.0120%	1h	86,070.1	+0.013%	$112.1M	$4.97B	50x	as long as short
Hyperliquid BTC	+0.0151%	1h	86,120	+0.071%	$3.97B	$4.36B	40x	as long as short
Kalshi KXBTCPERP	+0.0159%	8h	86,080	+0.025%	$12.0M	$733.9M	6.4x	as long as short
Reya BTCRUSDPERP	+0.0164%	1h	86,001.3	−0.067%	$6.6M	$131.1M	40x	as long as short
RISEx BTC/USDClong	+0.0187%	1h	86,058.6	long leg	$8.9M	$37.0M	25x
GMX BTC/USD [WBTC.b-USDC]	L +0.0211% / S −0.0252%	1h	86,038.9	−0.023%	$15.6M	—	200x	as long as short
Deribit BTC-PERPETUAL	+0.0241%	1h	86,081.8	+0.027%	$822.8M	$1.50B	50x	as long as short
Hibachi BTC/USDT-P	+0.0352%	1h	86,106.7	+0.056%	$725K	$7.0M	30x	as long as short
Aftermath Perps BTCUSD	+0.0445%	1h	86,108.8	+0.058%	$79K	$245K	20x	as long as short