MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0094%/8h= −10.3% APRnext payment −$0.12 per $10,000 · paid last 24h −0.019%

Price spread now: Nado against Phoenix+0.023%57s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Nado is 0.023% dearer against Phoenix than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 20 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSFT	503.31	0.0064	pay 0.0008% / 1h	39m 56s	$11K	$15K	20x
Short	Nado MSFT-PERP	503.43	−0.0030	pay 0.0004% / 1h	39m 56s	$414K	$67K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phoenix. 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 PhoenixbpFee NadobpOrdersPrice spread, now +0.023%Rate

Funding earned: −$19.71
Price spread: +0.023% → 0.000%: $2.3
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$31.41
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Nado: live order book, 63 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 Phoenix no order-book sample	—	—	—	—	—
Sell Nado live order book, 63 min ago	1.19 bp	13.7 bp −$14	28.7 bp −$287	doesn't fit	doesn't fit

Phoenix: 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
Nado MSFT-PERPshort	−0.0030%	1h	503.43	+0.023%	$414K	$67K	20x
Aster MSFTUSDT	0.0000%	8h	503.55	+0.048%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.69	+0.076%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.81	+0.099%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.54	+0.046%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.80	+0.097%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.46	+0.030%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.64	+0.066%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.60	+0.057%	$1.3M	$414K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.62	+0.062%	$19K	$326K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	504.49	+0.234%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.52	+0.042%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.97	−0.068%	$682K	$454K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.56	+0.050%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.91	+0.119%	$2.2M	$820K	10x	as long as short
BloFin MSFT-USDT	+0.0007%	8h	503.72	+0.081%	$190K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.71	+0.079%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.59	+0.056%	$707K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.54	+0.046%	$1.2M	$4.7M	10x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	503.21	−0.020%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.36	+0.010%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.68	+0.074%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.32	+0.002%	$22.4M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.37	+0.012%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.56	+0.050%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.20	−0.022%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	503.57	+0.052%	$222	—	5x	as long as short
Phoenix MSFTlong	+0.0064%	1h	503.31	long leg	$11K	$15K	20x
KuCoin MSFTUSDTM	+0.0100%	8h	503.19	−0.024%	$1.6M	$62K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.27	−0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.58	+0.054%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.65	+0.069%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.82	+0.300%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0347%	4h	503.57	+0.053%	$102K	$242K	10x	as long as short