Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0018%/8h= +1.9% APRpaid last 24h +0.001%

Price spread now: Nado against Aster−0.060%7-day average −0.048% · 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−$66as in the Price arb table

costs, in and out, $10k−$650.649% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.062%−$6 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now −0.060%, 7d avg −0.048%

Together, before fees−0.081%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.062%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	501.53	0	get 0.0000% / 8h	7h 11m	$161K	$116K	20x
Short	Nado MSFT-PERP	501.23	0.0018	get 0.0002% / 1h	11m 01s	$414K	$64K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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 AsterbpFee NadobpOrdersPrice spread, now −0.060%Rate

Funding earned: $3.69
Price spread: −0.060% → −0.048%: −$1.14
Slippage, 4 orders: −$49.92
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$62.38
Costs to cover: 0.649%
Break-even: 125.4 days

Slippage from Aster: live order book, 60 min ago; Nado: live order book, 62 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 Aster live order book, 60 min ago	11.45 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 62 min ago	0.60 bp	14.1 bp −$14	26.2 bp −$262	doesn't fit	doesn't fit

MSFT on 34 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
edgeX MSFTUSDC	−0.0508%	4h	501.42	−0.023%	$102K	$244K	10x	as long as short
BloFin MSFT-USDT	−0.0013%	8h	501.48	−0.010%	$188K	$205K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.058%	$685K	$453K	10x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.53	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.26	−0.055%	$337K	$900K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.37	−0.032%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.32	−0.042%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.38	−0.030%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.23	−0.060%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.41	−0.024%	$3.8M	$2.1M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.33	−0.040%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.50	−0.006%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.16	+0.125%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.11	−0.084%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.24	−0.058%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.97	+0.087%	$2.2M	$760K	10x	as long as short
Nado MSFT-PERPshort	+0.0018%	1h	501.23	−0.060%	$414K	$64K	20x
Lighter RH MSFT	+0.0032%	1h	501.25	−0.056%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.44	−0.018%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.34	−0.038%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.10	−0.086%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.04	−0.098%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.31	−0.044%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.05	−0.096%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.39	−0.029%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.24	−0.058%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.36	−0.034%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.13	−0.080%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.36	−0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.28	−0.051%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	501.50	−0.006%	$1.1M	$486K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.30	−0.046%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.045%	$115K	$45K	30x	as long as short
Hotstuff MSFT-PERP	+0.0232%	1h	501.12	−0.082%	$32K	$8K	20x	as long as short