Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.004%

Price spread now: HTX against Nado+0.006%7-day average +0.019% · 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−$41as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Nado Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now +0.006%, 7d avg +0.019%

Together, before fees+0.088%+ Points / potential airdropNado: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSFT-PERP	503.28	−0.0041	get 0.0005% / 1h	50m 34s	$411K	$72K	20x
Short	HTX MSFT-USDT	503.31	0	get 0.0000% / 8h	5h 50m	$48K	$246K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $8.71
Price spread: +0.006% → +0.019%: −$1.31
Slippage, 4 orders: −$20.63
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$32.23
Costs to cover: 0.396%
Break-even: 32.9 days

Slippage from Nado: live order book, 60 min ago; HTX: live order book, 59 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, 60 min ago	0.89 bp	11.3 bp −$11	22.7 bp −$227	doesn't fit	doesn't fit
Sell HTX live order book, 59 min ago	2.58 bp	8.7 bp −$9	13.1 bp −$131	doesn't fit	doesn't fit

MSFT on 34 exchanges

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
Hotstuff MSFT-PERP	−0.1600%	1h	503.33	+0.010%	$32K	$8K	20x	as long as short
Nado MSFT-PERPlong	−0.0041%	1h	503.28	long leg	$411K	$72K	20x
Ondo Perps MSFT-USD.P	−0.0026%	1h	502.92	−0.071%	$532K	$383K	15x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0008%	1h	503.07	−0.041%	$30K	$47K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.94	+0.131%	$166K	$118K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.27	−0.001%	$326K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.44	+0.032%	$16.4M	$20.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.23	−0.010%	$7.3M	$2.3M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.15	−0.025%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.42	+0.028%	$3.9M	$2.9M	100x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.26	−0.004%	$1.3M	$396K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	504.13	+0.169%	$6K	$3.5M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.80	−0.095%	$702K	$522K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	503.31	+0.006%	$48K	$246K	20x
Phemex MSFTUSDT	0.0000%	8h	504.07	+0.157%	$2.3M	$908K	10x	as long as short
GRVT MSFT_USDT_Perp	+0.0007%	8h	503.55	+0.054%	$19K	$318K	10x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	503.37	+0.018%	$202K	$214K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0028%	1h	502.93	−0.069%	$22.5M	$9.2M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.29	+0.002%	$1.2M	$480K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	+0.010%	$691K	$1.8M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.33	+0.010%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.02	−0.051%	$318K	$677K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.16	−0.023%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.26	−0.003%	$221	—	5x	as long as short
QFEX MSFT-USD	+0.0058%	1h	503.35	+0.014%	$1.2M	$4.7M	10x	as long as short
OKX MSFT-USDT-SWAP	+0.0061%	8h	503.45	+0.034%	$3.2M	$2.7M	20x	as long as short
Phoenix MSFT	+0.0079%	1h	503.25	−0.006%	$11K	$5K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.04	−0.047%	$1.6M	$222K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.38	+0.020%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.41	+0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.42	+0.029%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	503.16	−0.023%	$93K	$83K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.61	+0.066%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0351%	4h	503.48	+0.039%	$102K	$243K	10x	as long as short