Funding you earn now, next payment 06:00 UTC+0.0115%/8h= +12.6% APRnext payment +$0.14 per $10,000 · paid last 24h +0.074%
Price spread now: Nado against Hotstuff+0.031%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHotstuff: Active · Nado: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Nado is 0.031% dearer against Hotstuff than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff MSFT-PERP | 503.77 | −0.0144 | get 0.0018% / 1h | 14m 40s | $32K | $8K | 20x |
| Short | Nado MSFT-PERP | 503.93 | −0.0029 | pay 0.0004% / 1h | 14m 40s | $415K | $68K | 20x |
Hotstuff MSFT-PERP
Nado MSFT-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Hotstuff. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $24.11
- Price spread: +0.031% → 0.000%
- $3.1
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- $15.2
- Costs to cover
- 0.120%
- Break-even
- 2.6 days
Slippage unknown: Hotstuff: no order-book sample; Nado: live order book, 33 min ago. Net counts fees only.
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 Hotstuff no order-book sample | — | — | — | — | — |
| Sell Nado live order book, 33 min ago | 0.80 bp | 14.5 bp −$14 | 26.0 bp −$260 | doesn't fit | doesn't fit |
Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0899% | 4h | 504.23 | +0.090% | $103K | $244K | 10x | as long as short |
| Hotstuff MSFT-PERPlong | −0.0144% | 1h | 503.77 | long leg | $32K | $8K | 20x | |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.76 | −0.002% | $684K | $493K | 10x | as long as short |
| Nado MSFT-PERPshort | −0.0029% | 1h | 503.93 | +0.031% | $415K | $68K | 20x | |
| BloFin MSFT-USDT | −0.0021% | 8h | 504.40 | +0.125% | $190K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.02 | +0.050% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.27 | +0.098% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.45 | +0.135% | $15.8M | $19.5M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.06 | +0.058% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.44 | +0.133% | $3.0M | $2.4M | 20x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 504.17 | +0.079% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.24 | +0.093% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.27 | +0.100% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.23 | +0.092% | $18K | $323K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.23 | +0.290% | $6K | $3.9M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.15 | +0.075% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.66 | +0.177% | $2.2M | $811K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.99 | +0.044% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 504.13 | +0.071% | $692K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 504.22 | +0.089% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 504.05 | +0.056% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.24 | +0.093% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.89 | +0.024% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.91 | +0.028% | $303K | $720K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.23 | +0.091% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.75 | −0.004% | $518K | $471K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 504.29 | +0.103% | $222 | — | 5x | as long as short |
| Lighter MSFT | +0.0088% | 1h | 504.36 | +0.117% | $1.2M | $516K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.60 | −0.034% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.83 | +0.012% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.17 | +0.079% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.24 | +0.093% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0107% | 1h | 504.17 | +0.079% | $27K | $43K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.42 | +0.129% | $115K | $45K | 30x | as long as short |
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
Injective MSFT/USDC PERP