Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h +0.003%

Price spread now: Variational Omni against Nado+0.042%7-day average +0.027% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.042%+$4 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now +0.042%, 7d avg +0.027%

Together, before fees+0.189%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board+$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSFT-PERP	501.33	0.0009	pay 0.0001% / 1h	24m 07s	$414K	$64K	20x
Short	Variational Omni MSFT	501.54	0	get 0.0000% / 8h	6h 24m	$1.3M	$682K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.042%Rate

Funding earned: −$1.86
Price spread: +0.042% → +0.027%: $1.45
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.41
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 44 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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, 44 min ago	1.00 bp	12.4 bp −$12	24.8 bp −$248	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.53 bp	doesn't fit	18.4 bp −$184	doesn't fit	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
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.87	−0.091%	$684K	$451K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.56	+0.047%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.44	+0.022%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.57	+0.048%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.51	+0.036%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.71	+0.076%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.45	+0.024%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.61	+0.056%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	501.54	+0.042%	$1.3M	$682K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	501.52	+0.038%	$18K	$295K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.42	+0.218%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.48	+0.030%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.57	+0.048%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERPlong	+0.0009%	1h	501.33	long leg	$414K	$64K	20x
Lighter RH MSFT	+0.0032%	1h	501.44	+0.022%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.50	+0.034%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.36	+0.006%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.36	+0.006%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.16	−0.033%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.24	−0.018%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.50	+0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.15	−0.035%	$521K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.51	+0.037%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.33	0.000%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	501.23	−0.020%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.22	−0.022%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.07	−0.051%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.43	+0.020%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.53	+0.040%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0149%	1h	501.45	+0.024%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0176%	1h	501.73	+0.080%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.090%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0992%	4h	501.51	+0.035%	$102K	$242K	10x	as long as short