● Live · 10+ venues · 664 markets
Funding rates & spreads, measured properly.
Two delta-neutral edges live on one board: the funding carry you collect between venues, and the cross-exchange spread you trade as it mean-reverts — with the execution costs that decide both.
Public pages show a delayed preview. Full rankings, history and alerts require an account.
01 funding — top net spreads
PORTAL
↑ bybit · ↓ kucoin
2950.1% APR
SIREN
↑ bybit · ↓ kucoin
1095.5% APR
COTI
↑ kucoin · ↓ binance
1092.0% APR
02 spreads — widest 24h round trips
0G
↑ aster · ↓ binance
0.00% RT
0G
↑ aster · ↓ bybit
0.00% RT
0G
↑ aster · ↓ hyperliquid
0.00% RT
snapshot 2026-08-24 04:05 UTC · 664 markets tracked
What this is
Every exchange shows its own funding rate. None of them show you the difference.
NDA-Trade watches 664 perpetual markets across 10 venues at once and continuously works out, for each one, which venue pays the least and which pays the most — the two legs of a delta-neutral position.
That part you could do with a spreadsheet. The hard part is knowing whether the gap you found survives contact with execution, and that is what the rest of this measures.
The market tables are public: browse every tracked market or today's widest funding spreads. History, percentiles, stability scoring and alerts need an account.
Instantaneous APR lies
A rate annualized from this instant tells you almost nothing about what it actually paid. Realized 1-day, 7-day and 14-day windows do, and they frequently disagree with the headline number by an order of magnitude.
Costs decide it
Both legs cross the cross-exchange spread on the way in and again on the way out, plus fees on four fills. That floor is often higher than the spread being chased — which is how a market-neutral trade quietly loses money.
Persistence decides it
A spread that flips sign every few hours cannot be traded, however large it looks right now. Stability scoring separates the spreads that hold from the ones that evaporate before a position earns back its entry.
664markets tracked
10+venues monitored
2950%top funding APR now
—widest 24h round trip
01
Today's top funding spreads
The carry side. Each row is one delta-neutral trade: long the venue where funding runs lowest, short where it runs highest, collect the difference every settlement. The annualized figure is the spread at this instant — stability tells you whether it tends to stay.
| Market | Long venue | Short venue | Funding APR | 7d realized | Stability |
|---|---|---|---|---|---|
| PORTAL | bybit | kucoin | 2950.1% | 23.4% | 0% |
| SIREN | bybit | kucoin | 1095.5% | -22.0% | 0% |
| COTI | kucoin | binance | 1092.0% | -86.5% | 0% |
| 1000000MOG | binance | bybit | 1089.5% | -18.4% | 0% |
| MOVE | extended | bybit | 627.6% | 16.3% | 0% |
| HOME | bybit | binance | 598.2% | -2.4% | 0% |
| AZTEC | binance | lighter | 488.6% | 42.6% | 0% |
| 4 | binance | bybit | 483.3% | 30.2% | 0% |
| BIRB | kucoin | binance | 475.4% | -36.4% | 0% |
| UNITREE | bybit | lighter | 424.7% | 185.9% | 0% |
Updated 2026-08-24 04:05 UTC · top 10 of 664 tracked markets · see the full list
02
Today's widest spread opportunities
The other edge. The same perpetual trades at different prices on different venues, and the gap mean-reverts: enter both legs when the spread is unusually wide against its history, exit as it closes. The same numbers price the entry and exit of any two-legged position — a spread is a cost when you cross it and an edge when it pays you.
| Market | Long venue | Short venue | Entry now | 24h round trip | Samples |
|---|---|---|---|---|---|
| 0G | aster | binance | 0.12% | 0.00% | 0 |
| 0G | aster | bybit | 0.18% | 0.00% | 0 |
| 0G | aster | hyperliquid | 0.12% | 0.00% | 0 |
| 0G | aster | kucoin | 0.17% | 0.00% | 0 |
| 0G | aster | lighter | 0.18% | 0.00% | 0 |
| 0G | okx | aster | 0.18% | 0.00% | 0 |
| 0G | binance | bybit | 0.12% | 0.00% | 0 |
| 0G | binance | hyperliquid | 0.06% | 0.00% | 0 |
Maker-maker spreads · updated 2026-08-24 04:05 UTC · see percentiles and the full board · how the spread trade works
03
What is funding rate arbitrage?
A delta-neutral strategy: hold a long and a short of equal size in the same asset on two venues. Price moves cancel; the difference in funding payments does not — that difference is the yield. The spread trade works the same way, but earns the change in the price gap instead of the funding flow.
01 — Spot the spread
Funding rates for the same perpetual differ across exchanges, because each venue's order flow is its own. One market pays longs while another charges them. That gap is the raw material.
02 — Open both legs
Long where funding is negative or low, short where it is high, identical size on both sides. Net price exposure is zero; the position no longer cares which way the market moves.
03 — Collect the difference
Every settlement, one leg receives funding and the other pays less. The net spread, annualized, is the return — provided execution costs and risk stay under control.
04
What the platform does
- i.Cross-venue feed
- Funding rates and order books streamed from CEXs and perp DEXs, normalized into one ranking with the best long/short venue per market.
- ii.Realized yield windows
- Instantaneous APR is noisy. See what a spread actually paid over 3h, 1d, 7d and 14d before committing capital.
- iii.Stability scoring
- A spread that flips sign every few hours is a trap. Stability shows which opportunities persist long enough to be tradable.
- iv.Spread percentiles
- Entry and exit costs from 1-minute snapshots: averages, p10/p90 and extremes over any window from 1 hour to 30 days — the statistics that turn a quote into a tradable signal.
- v.Alerts
- Telegram notifications when spreads cross your thresholds, so you enter on your own terms instead of watching charts.
- vi.Execution tooling
- Position tracking and automated two-leg execution for supported venues, with margin and liquidation monitoring.
05
Questions, answered plainly
What is funding rate arbitrage?
Funding rate arbitrage is a delta-neutral trading strategy: you go long a perpetual futures contract on the exchange where funding is lowest and short the same contract where funding is highest. Price moves cancel out between the two legs while you collect the difference in funding payments every settlement interval.
Is funding rate arbitrage risk-free?
No. The funding spread can compress or flip sign, either leg can be liquidated in a sharp move if margins are thin, execution spreads and fees eat into returns, and every venue carries counterparty risk. It is market-neutral, not risk-free.
Are exchange spreads a cost or an opportunity?
Both. Every two-legged position pays the spread twice — entry and exit — so it is the main execution cost of funding arbitrage. But spreads between venues also drift apart and mean-revert on their own, which makes an unusually wide spread a tradable edge in itself. NDA-Trade tracks both readings: live spreads against their historical percentiles.
Which exchanges does NDA-Trade track?
NDA-Trade monitors major centralized exchanges such as Binance, Bybit, OKX and KuCoin alongside perpetual DEXs including Hyperliquid, Lighter, Extended, Aster and Nado. The venue list grows as new markets become liquid enough to trade.
How fresh is the data on these public pages?
Public pages show a cached snapshot of the top opportunities, refreshed every few minutes. The full dashboard streams funding rates and order books in real time and keeps historical data for every tracked market.
What does the stability score mean?
Stability measures how consistently a funding spread has held its sign and magnitude. A high score means the same venue pair has paid a similar spread over time; a low score means the opportunity flickers and may vanish before a position earns back its costs.
How do I get access to the full dashboard?
Create a free account — registration is open and takes a minute. Confirm your email address and you can sign in immediately. The free tier covers live rankings and market coverage; deeper history, percentile statistics and alerts come with a paid plan.
Access
The public pages are a preview. The dashboard is the instrument.
Complete rankings, per-market history, spread percentiles and alerts. Registration is free and takes a minute.