Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.001%

Price spread now: Gate against Nado+0.028%7-day average −0.003% · 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−$50as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.036%+$4 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now +0.028%, 7d avg −0.003%

Together, before fees+0.070%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.031% dearer against Nado than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of −0.003%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSFT-PERP	501.10	0.0010	pay 0.0001% / 1h	2m 56s	$414K	$64K	20x
Short	Gate MSFT_USDT	501.24	0	get 0.0000% / 8h	7h 02m	$3.1M	$1.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.028%Rate

Funding earned: −$2.08
Price spread: +0.028% → −0.003%: $3.06
Slippage, 4 orders: −$30.73
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$51.76
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago	1.00 bp	12.4 bp −$12	24.8 bp −$248	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	3.79 bp	15.8 bp −$16	79.6 bp −$796	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	−0.0047%	4h	501.37	+0.053%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	500.76	−0.068%	$684K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.41	+0.061%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.21	+0.021%	$342K	$905K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.32	+0.044%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.23	+0.026%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.28	+0.036%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	501.24	+0.028%	$3.1M	$1.7M	100x
Bitget MSFTUSDT	0.0000%	8h	501.37	+0.054%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.37	+0.054%	$1.3M	$690K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.46	+0.072%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.21	+0.221%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.04	−0.012%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.27	+0.034%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.49	+0.078%	$2.2M	$759K	10x	as long as short
Nado MSFT-PERPlong	+0.0010%	1h	501.10	long leg	$414K	$64K	20x
BloFin MSFT-USDT	+0.0024%	8h	501.32	+0.044%	$188K	$205K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.15	+0.010%	$617K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.30	+0.040%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.24	+0.028%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.88	−0.044%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.92	−0.036%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	+0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.98	−0.024%	$514K	$504K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.22	+0.025%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.09	−0.002%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.21	+0.022%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.14	+0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.22	+0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.20	+0.020%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	501.42	+0.064%	$1.1M	$486K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.21	+0.022%	$97K	$109K	10x	as long as short
Hotstuff MSFT-PERP	+0.0216%	1h	500.89	−0.042%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.131%	$115K	$45K	30x	as long as short