Funding you earn now, next payment 07:00 UTC−0.0129%/8h= −14.1% APRnext payment −$0.16 per $10,000 · paid last 24h −0.027%
Price spread now: Nado against Lighter−0.056%7-day average −0.020% · 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−$33as in the Price arb table
costs, in and out, $10k−$290.292% of the position
Funding, last 3 days (all we have)−0.099%−$10 on $10k
+Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.056%, 7d avg −0.020%
=Together, before fees−0.115%+ Points / potential airdropLighter: Season 3 · Nado: Active · farm board−$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Nado is 0.037% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.020%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MSFT | 503.68 | 0.0152 | pay 0.0019% / 1h | 6m 08s | $1.2M | $533K | 20x |
| Short | Nado MSFT-PERP | 503.40 | 0.0023 | get 0.0003% / 1h | 6m 08s | $414K | $67K | 20x |
Lighter MSFT
Nado MSFT-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Lighter. 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
- −$27.12
- Price spread: −0.056% → −0.020%
- −$3.65
- Slippage, 4 orders
- −$22.17
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$59.95
- Costs to cover
- 0.292%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 5 min ago; Nado: live order book, 37 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 Lighter live order book, 5 min ago | 0.69 bp | 1.2 bp −$1 | 7.6 bp −$76 | doesn't fit | doesn't fit |
| Sell Nado live order book, 37 min ago | 1.19 bp | 13.7 bp −$14 | 28.7 bp −$287 | 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 | −0.0748% | 4h | 503.68 | 0.000% | $102K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0048% | 1h | 503.66 | −0.004% | $682K | $499K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.49 | −0.037% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.57 | −0.022% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.68 | 0.000% | $15.8M | $19.5M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.50 | −0.036% | $7.3M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.59 | −0.018% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.41 | −0.054% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.63 | −0.010% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.69 | +0.002% | $1.3M | $399K | — | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.72 | +0.008% | $18K | $328K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.46 | +0.155% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.44 | −0.048% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.59 | −0.018% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.76 | +0.016% | $2.2M | $823K | 10x | as long as short |
| Nado MSFT-PERPshort | +0.0023% | 1h | 503.40 | −0.056% | $414K | $67K | 20x | |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 503.21 | −0.093% | $32K | $8K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0027% | 8h | 503.72 | +0.008% | $190K | $206K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.50 | −0.036% | $694K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 503.62 | −0.012% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.41 | −0.054% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.70 | +0.004% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.22 | −0.091% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.32 | −0.071% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.49 | −0.038% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.09 | −0.117% | $513K | $453K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 503.57 | −0.021% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.34 | −0.068% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.10 | −0.115% | $1.6M | $60K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.24 | −0.087% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.57 | −0.022% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.60 | −0.016% | $55 | — | 10x | as long as short |
| Lighter MSFTlong | +0.0152% | 1h | 503.68 | long leg | $1.2M | $533K | 20x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.98 | +0.060% | $115K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
BloFin MSFT-USDT
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
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP