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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 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%
Price spread now: Nado against SunX+0.047%7-day average +0.005% · 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−$11as in the Price arb table
costs, in and out, $10k−$160.155% of the position
Long on SunXShort on Nado
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)−0.008%−$1 on $10k
Price spread, last 4 days (all we have)+0.018%+$2 · spread now +0.047%, 7d avg +0.005%
Together, before fees+0.009%+ Points / potential airdropNado: Active · farm board+$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.042% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.005%.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongSunX BTC-USDT86,137.60.0100pay 0.0100% / 8h5h 55m$3.2M$6.7M100x
ShortNado BTC-PERP86,178.40.0100get 0.0012% / 1h55m 38s$23.7M$196.8M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Nado against SunX. 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
$0
Price spread: +0.047% → +0.005%
$4.24
Slippage, 4 orders
−$0.55
Fee SunX: 4 bp × 2 orders
−$8
Fee Nado: 3.5 bp × 2 orders
−$7
Net
−$11.31
Costs to cover
0.155%
Break-even
never at this rate
Slippage from SunX: live order book, 6 min ago; Nado: live order book, 2 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 SunX live order book, 6 min ago0.22 bp4.2 bp −$45.2 bp −$527.7 bp −$772doesn't fit
Sell Nado live order book, 2 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
Hotstuff BTC-PERP−0.0080%1h86,197+0.069%$8K$2K50xas long as short
01 Exchange BTCUSD−0.0024%1h86,154.5+0.020%$363K$2.0M50xas long as short
BloFin BTC-USDT−0.0020%8h86,159.8+0.026%$421.0M$566.8M150xas long as short
SoDEX BTC-USD−0.0015%1h86,146+0.010%$66.0M$188.1M40xas long as short
ApeX Omni BTCUSDT−0.0004%1h86,185.3+0.055%$138.2M$295.1M100xas long as short
dYdX BTC-USD0.0000%1h86,162.9+0.029%$16.9M$14.5M50xas long as short
Perpl BTC0.0000%43m86,228.2+0.105%$483K$13.8M6.7xas long as short
gTrade (Gains Network) BTC/USDL +0.0004% / S −0.0004%1h86,178.5+0.047%$36.8M—200xas long as short
Injective BTC/USDC PERP+0.0009%1h86,214+0.089%$301K$26.1M52xas long as short
Kraken Futures PF_XBTUSD+0.0029%1h86,163.5+0.030%$191.8M$774.0M100xas long as short
Show all 55 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
BingX BTC-USDC+0.0030%8h86,128.1−0.011%—$16.3M—as long as short
Aster BTCUSDT+0.0031%8h86,143.1+0.006%$513.4M$877.6M200xas long as short
Bybit BTCUSDT+0.0037%8h86,155.1+0.020%$5.15B$8.15B150xas long as short
Phoenix BTC+0.0053%1h86,185+0.055%$2.0M$7.8M40xas long as short
KuCoin XBTUSDTM+0.0053%8h86,154.1+0.019%$943.3M$636.4M125xas long as short
Gate BTC_USDT+0.0069%8h86,151.6+0.016%$5.52B$8.87B200xas long as short
Popdex BTCUSDT+0.0072%1h86,151+0.016%$8.8M$45.5M100xas long as short
Phemex BTCUSDT+0.0078%8h86,145.8+0.010%$170.8M$480.2M150xas long as short
Bitget BTCUSDT+0.0095%8h86,151.7+0.016%$2.99B$3.98B150xas long as short
Lighter BTC+0.0096%1h86,162+0.028%$173.8M$850.8M50xas long as short
Lighter RH BTC+0.0096%1h86,166.5+0.034%$23.5M$118.5M50xas long as short
Aevo BTC-PERP+0.0096%1h86,128.6−0.010%$2.4M$6.7M20xas long as short
Katana Perps BTC-USD+0.0100%8h86,126−0.013%$220K$8.1M50xas long as short
Paradex BTC-USD-PERP+0.0100%8h86,191.2+0.062%$6.0M$7.7M50xas long as short
Nado BTC-PERPshort+0.0100%1h86,178.4+0.047%$23.7M$196.8M50x
Pacifica BTC+0.0100%1h86,190.1+0.061%$40.4M$570.0M50xas long as short
Binance BTCUSDT+0.0100%8h86,144.8+0.008%$9.46B$20.68B150xas long as short
OKX BTC-USDT-SWAP+0.0100%8h86,155.2+0.020%$2.62B$9.53B100xas long as short
Ondo Perps BTC-USD.P+0.0100%1h86,139+0.002%$4.0M$15.2M25xas long as short
Arcus BTC-USD+0.0100%1h86,177.2+0.046%$4.2M$90.5M40xas long as short
Bulk BTC-USD+0.0100%1h86,169.3+0.037%$716.4M$134.3M40xas long as short
MEXC BTC_USDT+0.0100%8h86,146.1+0.010%$5.19B$4.81B500xas long as short
Backpack BTC_USDC_PERP+0.0100%1h86,137.80.000%$38.7M$196.0M75xas long as short
Variational Omni BTC+0.0100%8h86,125.5−0.014%$158.0M$474.6M—as long as short
edgeX BTCUSDC+0.0100%4h86,136.3−0.001%$290.0M$813.0M100xas long as short
GRVT BTC_USDT_Perp+0.0100%8h86,177.2+0.046%$216.5M$133.7M50xas long as short
StandX BTC-USD+0.0100%1h86,183.5+0.053%$30.3M$222.5M40xas long as short
Vest BTC-PERP+0.0100%1h86,204.5+0.078%—$9.3M50xas long as short
Polymarket Perps BTC-USD+0.0100%1h86,149+0.013%$11.1M$12.0M50xas long as short
Bullet BTC-USD+0.0100%1h86,143.7+0.007%$206K$3.2M20xas long as short
Orderly PERP_BTC_USDC+0.0100%8h86,130.7−0.008%$2.7M$8.9M100xas long as short
Bluefin BTC-PERP+0.0100%1h86,178.4+0.047%$195K$564K40xas long as short
SunX BTC-USDTlong+0.0100%8h86,137.6long leg$3.2M$6.7M100x
HTX BTC-USDT+0.0100%8h86,142.7+0.006%$2.28B$806.1M200xas long as short
Extended BTC-USD+0.0104%1h86,127.3−0.012%$47.0M$203.5M50xas long as short
Jupiter Perps WBTC-PERPL +0.0104% / S +0.0056%1h86,150.4+0.015%—$81.6M500xas long as short
Coinbase International BTC-PERP-INTX+0.0120%1h86,194.7+0.066%$112.3M$4.99B50xas long as short
Kalshi KXBTCPERP+0.0160%8h86,187+0.057%$11.8M$732.3M6.4xas long as short
Reya BTCRUSDPERP+0.0162%1h86,135.6−0.002%$6.6M$131.1M40xas long as short
Hyperliquid BTC+0.0174%1h86,247+0.127%$3.97B$4.41B40xas long as short
RISEx BTC/USDC+0.0187%1h86,175.9+0.044%$9.0M$37.3M25xas long as short
GMX BTC/USD [WBTC.b-USDC]L +0.0210% / S −0.0249%1h86,157.2+0.023%$15.6M—200xas long as short
Deribit BTC-PERPETUAL+0.0216%1h86,205.3+0.079%$822.6M$1.51B50xas long as short
Hibachi BTC/USDT-P+0.0344%1h86,238.4+0.117%$718K$7.0M30xas long as short
Aftermath Perps BTCUSD+0.0442%1h86,205.9+0.079%$82K$242K20xas long as short