Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.021%

Price spread now: Nado against Paradex−0.068%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Nado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.068% cheaper against Paradex than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSFT-USD-PERP	501.73	0.0053	pay 0.0053% / 8h	2h 03m	$221	—	5x
Short	Nado MSFT-PERP	501.39	0.0005	get 0.0001% / 1h	3m 27s	$414K	$64K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Paradex. 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 ParadexbpFee NadobpOrdersPrice spread, now −0.068%Rate

Funding earned: −$10.08
Price spread: −0.068% → 0.000%: −$6.79
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$27.86
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Nado: live order book, 19 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 Paradex no order-book sample	—	—	—	—	—
Sell Nado live order book, 19 min ago	0.60 bp	12.9 bp −$13	27.7 bp −$277	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff MSFT-PERP	−0.0048%	1h	501.40	−0.066%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.47	−0.052%	$690K	$433K	10x	as long as short
BloFin MSFT-USDT	−0.0021%	8h	501.86	+0.026%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.99	+0.051%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.84	+0.023%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.90	+0.034%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.89	+0.032%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	+0.010%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.70	−0.006%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.86	+0.026%	$3.8M	$2.2M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.88	+0.029%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.76	+0.006%	$19K	$325K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.68	+0.189%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.50	−0.046%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.73	0.000%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.00	+0.054%	$2.2M	$768K	10x	as long as short
Nado MSFT-PERPshort	+0.0005%	1h	501.39	−0.068%	$414K	$64K	20x
Lighter MSFT	+0.0032%	1h	501.81	+0.016%	$1.1M	$654K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.67	−0.012%	$652K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.59	−0.028%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.42	−0.062%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.39	−0.068%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.79	+0.012%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.42	−0.062%	$521K	$494K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.83	+0.020%	$1.2M	$5.7M	10x	as long as short
Paradex MSFT-USD-PERPlong	+0.0053%	8h	501.73	long leg	$221	—	5x
Phoenix MSFT	+0.0096%	1h	501.59	−0.028%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.19	−0.108%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.20	−0.106%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.78	+0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.83	+0.019%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	+0.269%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.70	−0.006%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0995%	4h	501.87	+0.027%	$102K	$243K	10x	as long as short