Funding you earn now, next payment 02:00 UTC+0.0077%/8h= +8.4% APRnext payment +$0.10 per $10,000 · paid last 24h +0.013%
Price spread now: QFEX against Nado−0.019%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$330.327% of the position
Funding, last 3 days (all we have)+0.052%+$5 on $10k
+Price spread, last 4 days (all we have)+0.242%+$24 · spread now −0.019%, 7d avg +0.019%
=Together, before fees+0.295%+ Points / potential airdropNado: Active · farm board+$29 on $10k · with fees, hour by hour
Funding pays, the price is against you. QFEX is 0.038% cheaper against Nado than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.019%). If the spread goes back, that is −$4 on $10k: about 39 hours of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado MSFT-PERP | 501.51 | −0.0039 | get 0.0005% / 1h | 0m 26s | $414K | $64K | 20x |
| Short | QFEX MSFT-USD | 501.41 | 0.0038 | get 0.0005% / 1h | 0m 26s | $1.1M | $5.7M | 10x |
Nado MSFT-PERP
QFEX MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- $16.14
- Price spread: −0.019% → +0.019%
- −$3.79
- Slippage, 4 orders
- −$15.7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$20.35
- Costs to cover
- 0.327%
- Break-even
- 15.8 days
Slippage from Nado: live order book, 2 min ago; QFEX: live order book, 3 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, 2 min ago | 0.70 bp | 13.7 bp −$14 | 29.9 bp −$299 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 3 min ago | 1.69 bp | 6.7 bp −$7 | 6.7 bp −$67 | 12.8 bp −$1,279 | doesn't fit |
MSFT on 33 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERPlong | −0.0039% | 1h | 501.51 | long leg | $414K | $64K | 20x | |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 501.24 | −0.053% | $679K | $457K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.74 | +0.046% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.45 | −0.011% | $337K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.55 | +0.009% | $15.6M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.70 | +0.039% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.73 | +0.045% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.34 | −0.033% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.62 | +0.023% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.60 | +0.018% | $1.3M | $650K | — | as long as short |
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.58 | +0.014% | $19K | $295K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.31 | +0.160% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.33 | −0.035% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.52 | +0.003% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.78 | +0.055% | $2.2M | $762K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.43 | −0.015% | $651K | $2.1M | 20x | as long as short |
| QFEX MSFT-USDshort | +0.0038% | 1h | 501.41 | −0.019% | $1.1M | $5.7M | 10x | |
| Arcus MSFT-USD | +0.0040% | 1h | 501.45 | −0.011% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.55 | +0.009% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.21 | −0.059% | $22.1M | $9.3M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.20 | −0.061% | $303K | $671K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.56 | +0.011% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.21 | −0.059% | $522K | $483K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.57 | +0.012% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.41 | −0.019% | $10K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0088% | 1h | 501.24 | −0.053% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.30 | −0.041% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.46 | −0.009% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.48 | −0.005% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.42 | −0.016% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0128% | 1h | 501.65 | +0.029% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.87 | +0.072% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0361% | 4h | 501.62 | +0.023% | $102K | $243K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP
edgeX MSFTUSDC