Funding you earn now, next payment 03:00 UTC−0.0087%/8h= −9.6% APRnext payment −$0.11 per $10,000 · paid last 24h −0.014%
Price spread now: Nado against tradeXYZ+0.032%7-day average +0.069% · 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−$42as in the Price arb table
costs, in and out, $10k−$380.385% of the position
Funding, last 3 days (all we have)−0.084%−$8 on $10k
+Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.032%, 7d avg +0.069%
=Together, before fees−0.101%+ Points / potential airdroptradeXYZ: Active · Nado: Active · farm board−$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Nado is 0.037% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.069%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 500.99 | 0.0050 | pay 0.0006% / 1h | 21m 54s | $22.1M | $8.9M | 20x |
| Short | Nado MSFT-PERP | 501.15 | −0.0037 | pay 0.0005% / 1h | 21m 54s | $414K | $64K | 20x |
tradeXYZ xyz:MSFT
Nado MSFT-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against tradeXYZ. 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
- −$18.36
- Price spread: +0.032% → +0.069%
- −$3.68
- Slippage, 4 orders
- −$13.48
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$60.52
- Costs to cover
- 0.385%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 6 min ago; Nado: live order book, 41 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 tradeXYZ live order book, 6 min ago | 0.10 bp | 9.5 bp −$10 | 11.9 bp −$119 | doesn't fit | doesn't fit |
| Sell Nado live order book, 41 min ago | 0.70 bp | 5.6 bp −$6 | 23.4 bp −$234 | 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 | −0.0136% | 4h | 501.41 | +0.085% | $102K | $242K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 500.91 | −0.016% | $678K | $457K | 10x | as long as short |
| Nado MSFT-PERPshort | −0.0037% | 1h | 501.15 | +0.032% | $414K | $64K | 20x | |
| BloFin MSFT-USDT | −0.0003% | 8h | 501.40 | +0.082% | $189K | $203K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.43 | +0.087% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.30 | +0.062% | $337K | $892K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.46 | +0.093% | $15.7M | $18.9M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.24 | +0.050% | $7.3M | $1.8M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.51 | +0.104% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.28 | +0.058% | $3.1M | $1.7M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.47 | +0.096% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.44 | +0.090% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.68 | +0.138% | $19K | $297K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.19 | +0.240% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.06 | +0.014% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.24 | +0.050% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.32 | +0.066% | $2.2M | $770K | 10x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.25 | +0.052% | $1.1M | $5.6M | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.22 | +0.046% | $685K | $2.0M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.18 | +0.038% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.25 | +0.052% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFTlong | +0.0050% | 1h | 500.99 | long leg | $22.1M | $8.9M | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.02 | +0.006% | $301K | $648K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.33 | +0.068% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.01 | +0.004% | $524K | $494K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0060% | 8h | 501.24 | +0.050% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.05 | +0.012% | $10K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0072% | 1h | 500.93 | −0.012% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.22 | +0.046% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.13 | +0.028% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.22 | +0.046% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.21 | +0.045% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0176% | 1h | 501.54 | +0.110% | $1.1M | $459K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.86 | +0.174% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
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