Funding you earn now, next payment 03:00 UTC+0.0035%/8h= +3.9% APRpaid last 24h +0.004%
Price spread now: Bybit against Nado+0.044%7-day average +0.020% · 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−$38as in the Price arb table
costs, in and out, $10k−$400.399% of the position
Funding, last 3 days (all we have)+0.045%+$4 on $10k
+Price spread, last 4 days (all we have)+0.115%+$12 · spread now +0.044%, 7d avg +0.020%
=Together, before fees+0.160%+ Points / potential airdropNado: Active · farm board+$16 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.023% dearer against Nado than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.020%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado MSFT-PERP | 501.49 | −0.0035 | get 0.0004% / 1h | 34m 30s | $414K | $64K | 20x |
| Short | Bybit MSFTUSDT | 501.71 | 0 | get 0.0000% / 8h | 5h 34m | $7.4M | $1.6M | 100x |
Nado MSFT-PERP
Bybit MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Nado. 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
- $7.44
- Price spread: +0.044% → +0.020%
- $2.33
- Slippage, 4 orders
- −$21.86
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$30.09
- Costs to cover
- 0.399%
- Break-even
- 35.3 days
Slippage from Nado: live order book, 28 min ago; Bybit: live order book, 4 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, 28 min ago | 0.70 bp | 13.7 bp −$14 | 29.9 bp −$299 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 1.69 bp | 10.4 bp −$10 | 19.2 bp −$192 | 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 | 501.24 | −0.050% | $679K | $456K | 10x | as long as short |
| Nado MSFT-PERPlong | −0.0035% | 1h | 501.49 | long leg | $414K | $64K | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 501.70 | +0.041% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.64 | +0.031% | $338K | $891K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.78 | +0.058% | $15.7M | $18.9M | 20x | as long as short |
| Bybit MSFTUSDTshort | 0.0000% | 8h | 501.71 | +0.044% | $7.4M | $1.6M | 100x | |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.96 | +0.094% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.63 | +0.028% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.76 | +0.054% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.82 | +0.065% | $1.3M | $650K | — | as long as short |
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance 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 | 501.88 | +0.078% | $19K | $297K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.56 | +0.213% | $6K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.59 | +0.020% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.96 | +0.094% | $2.2M | $769K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0021% | 8h | 501.90 | +0.082% | $189K | $204K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 501.34 | −0.030% | $32K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.63 | +0.028% | $1.1M | $5.7M | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.57 | +0.016% | $684K | $2.0M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.62 | +0.026% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.64 | +0.030% | — | $1K | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0049% | 1h | 501.50 | +0.002% | $27K | $41K | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.34 | −0.030% | $22.1M | $9.1M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.40 | −0.018% | $302K | $648K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.65 | +0.032% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.40 | −0.018% | $525K | $487K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0062% | 8h | 501.64 | +0.029% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.58 | +0.018% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.55 | +0.012% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.40 | −0.018% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.69 | +0.040% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.65 | +0.032% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0160% | 1h | 501.94 | +0.090% | $1.1M | $458K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.24 | +0.349% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0697% | 4h | 501.78 | +0.057% | $102K | $243K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Hotstuff MSFT-PERP
QFEX MSFT-USD
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
Deribit MSFT_USDC-PERPETUAL
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
Lighter MSFT
Injective MSFT/USDC PERP
edgeX MSFTUSDC