Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h +0.017%

Price spread now: BloFin against Nado+0.013%103s7-day average +0.046% · 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—prices read too far apart to compare

costs, in and out, $10k−$450.450% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.013%, 7d avg +0.046%

Together, before fees+0.145%+ Points / potential airdropNado: Active · farm board+$15 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: BloFin is 0.033% cheaper against Nado than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.046%. The two prices were read 103 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSFT-PERP	503.63	−0.0004	get 0.0001% / 1h	33m 24s	$413K	$66K	20x
Short	BloFin MSFT-USDT	503.70	−0.0009	pay 0.0009% / 8h	2h 33m	$190K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Nado. 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 NadobpFee BloFinbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$1.08
Price spread: +0.013% → +0.046%: −$3.3
Slippage, 4 orders: −$26.03
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$49.41
Costs to cover: 0.450%
Break-even: never at this rate

Slippage from Nado: live order book, 14 min ago; BloFin: live order book, 47 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 Nado live order book, 14 min ago	0.80 bp	13.7 bp −$14	25.9 bp −$259	doesn't fit	doesn't fit
Sell BloFin live order book, 47 min ago	0.20 bp	8.0 bp −$8	10.9 bp −$109	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.26	−0.074%	$682K	$465K	10x	as long as short
BloFin MSFT-USDTshort	−0.0009%	8h	503.70	+0.013%	$190K	$206K	20x
Nado MSFT-PERPlong	−0.0004%	1h	503.63	long leg	$413K	$66K	20x
Aster MSFTUSDT	0.0000%	8h	503.69	+0.010%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.75	+0.023%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.92	+0.057%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.67	+0.007%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.63	−0.001%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.59	−0.009%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.71	+0.015%	$3.8M	$2.9M	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	503.69	+0.011%	$1.3M	$479K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.67	+0.008%	$19K	$312K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.24	+0.120%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.33	−0.060%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.46	−0.034%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.84	+0.041%	$2.2M	$797K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.57	−0.013%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.71	+0.015%	$687K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.76	+0.025%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.37	−0.052%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.79	+0.031%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.43	−0.040%	$22.3M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.43	−0.040%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.31	−0.064%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.02	−0.122%	$517K	$470K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.71	+0.015%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.25	−0.076%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.30	−0.066%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.46	−0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.48	−0.031%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	503.98	+0.069%	$1.2M	$506K	20x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	503.28	−0.070%	$32K	$8K	20x	as long as short
edgeX MSFTUSDC	+0.0128%	4h	503.67	+0.006%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.85	−0.156%	$115K	$45K	30x	as long as short