Funding you earn now, next payment 07:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.003%
Price spread now: Phemex against Nado+0.061%7-day average +0.074% · 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−$86as in the Price arb table
costs, in and out, $10k−$850.851% of the position
Funding, last 3 days (all we have)+0.038%+$4 on $10k
+Price spread, last 4 days (all we have)+0.029%+$3 · spread now +0.061%, 7d avg +0.074%
=Together, before fees+0.067%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.074%, 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 | 504.01 | 0.0020 | pay 0.0002% / 1h | 54m 43s | $415K | $67K | 20x |
| Short | Phemex MSFTUSDT | 504.32 | 0 | get 0.0000% / 8h | 1h 54m | $2.2M | $817K | 10x |
Nado MSFT-PERP
Phemex MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$4.14
- Price spread: +0.061% → +0.074%
- −$1.24
- Slippage, 4 orders
- −$66.15
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$90.53
- Costs to cover
- 0.851%
- Break-even
- never at this rate
Slippage from Nado: live order book, 53 min ago; Phemex: 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, 53 min ago | 0.80 bp | 13.7 bp −$14 | 25.9 bp −$259 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 2.78 bp | 30.4 bp −$30 | doesn't fit | 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 | −0.0521% | 4h | 503.90 | −0.022% | $103K | $242K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0048% | 1h | 503.66 | −0.070% | $682K | $500K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0009% | 8h | 504.39 | +0.075% | $190K | $207K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.97 | −0.009% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.26 | +0.049% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.33 | +0.063% | $15.9M | $19.6M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.04 | +0.006% | $7.3M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.40 | +0.077% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.11 | +0.020% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.04 | +0.006% | $3.8M | $3.0M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.28 | +0.053% | $1.3M | $499K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.96 | −0.010% | $19K | $326K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.14 | +0.224% | $6K | $3.9M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.22 | +0.041% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDTshort | 0.0000% | 8h | 504.32 | +0.061% | $2.2M | $817K | 10x | |
| Phoenix MSFT | +0.0016% | 1h | 503.52 | −0.097% | $11K | $15K | 20x | as long as short |
| Nado MSFT-PERPlong | +0.0020% | 1h | 504.01 | long leg | $415K | $67K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 504.08 | +0.014% | $716K | $1.9M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 504.24 | +0.045% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.92 | −0.018% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.20 | +0.037% | — | $1K | 25x | as long as short |
| Hotstuff MSFT-PERP | +0.0048% | 1h | 503.53 | −0.095% | $32K | $8K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.90 | −0.022% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.98 | −0.006% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.22 | +0.041% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.52 | −0.097% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0060% | 8h | 504.19 | +0.035% | $222 | — | 5x | as long as short |
| Lighter MSFT | +0.0080% | 1h | 504.37 | +0.071% | $1.2M | $514K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.72 | −0.058% | $1.6M | $58K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.48 | −0.105% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.15 | +0.028% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.25 | +0.047% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0127% | 1h | 504.16 | +0.030% | $27K | $43K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.13 | +0.024% | $115K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phoenix MSFT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Hotstuff MSFT-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
Injective MSFT/USDC PERP