Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0708%/8h= −77.5% APRpaid last 24h +0.062%

Price spread now: edgeX against Nado+0.033%7-day average +0.029% · 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−$42as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.106%+$11 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now +0.033%, 7d avg +0.029%

Together, before fees+0.137%+ Points / potential airdropNado: Active · edgeX: Active · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.106%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.106% in total (about 12.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSFT-PERP	501.92	0.0011	pay 0.0001% / 1h	18m 53s	$414K	$64K	20x
Short	edgeX MSFTUSDC	502.08	−0.0696	pay 0.0348% / 4h	1h 18m	$102K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$148.63
Price spread: +0.033% → +0.029%: $0.43
Slippage, 4 orders: −$26.76
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$190.96
Costs to cover: 0.428%
Break-even: never at this rate

Slippage from Nado: live order book, 64 min ago; edgeX: live order book, 63 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, 64 min ago	0.60 bp	9.9 bp −$10	22.8 bp −$228	doesn't fit	doesn't fit
Sell edgeX live order book, 63 min ago	5.28 bp	10.0 bp −$10	12.4 bp −$124	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 MSFTUSDCshort	−0.0696%	4h	502.08	+0.033%	$102K	$243K	10x
Aster MSFTUSDT	0.0000%	8h	502.18	+0.051%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.10	+0.037%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.21	+0.058%	$15.7M	$19.2M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.058%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.96	+0.008%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.21	+0.058%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.09	+0.034%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.09	+0.034%	$19K	$312K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.94	+0.204%	$6K	$4.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.75	−0.033%	$27K	$100K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.067%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.10	+0.036%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.34	+0.084%	$2.2M	$757K	10x	as long as short
Nado MSFT-PERPlong	+0.0011%	1h	501.92	long leg	$414K	$64K	20x
Bybit MSFTUSDT	+0.0018%	8h	502.23	+0.062%	$7.4M	$1.7M	100x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	502.17	+0.050%	$188K	$210K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.05	+0.026%	$652K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.05	+0.026%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.92	0.000%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.72	−0.039%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.64	−0.055%	$305K	$675K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.09	+0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.79	−0.025%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	502.04	+0.024%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.89	−0.006%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.54	−0.075%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.77	−0.029%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.03	+0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.09	+0.034%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	501.80	−0.023%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0136%	1h	502.22	+0.060%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.02	+0.020%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.076%	$115K	$45K	30x	as long as short