Funding you earn now, next payment 00:00 UTC−0.0106%/8h= −11.6% APRnext payment −$0.13 per $10,000 · paid last 24h −0.014%
Price spread now: Nado against Deribit−0.025%46s7-day average +0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$370.372% of the position
Funding, last 3 days (all we have)−0.118%−$12 on $10k
+Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.025%, 7d avg +0.007%
=Together, before fees−0.130%+ Points / potential airdropNado: Active · farm board−$13 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 0.032% cheaper against Deribit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.007%). Swap the legs. The two prices were read 46 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 | Deribit MSFT_USDC-PERPETUAL | 502.08 | 0.0089 | pay 0.0011% / 1h | 41m 27s | $27K | $101K | 10x |
| Short | Nado MSFT-PERP | 501.95 | −0.0018 | pay 0.0002% / 1h | 41m 27s | $414K | $64K | 20x |
Deribit MSFT_USDC-PERPETUAL
Nado MSFT-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado against Deribit. 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
- −$22.32
- Price spread: −0.025% → +0.007%
- −$3.18
- Slippage, 4 orders
- −$23.16
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$62.66
- Costs to cover
- 0.372%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 37 min ago; Nado: live order book, 36 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 Deribit live order book, 37 min ago | 3.09 bp | 6.6 bp −$7 | 9.7 bp −$97 | doesn't fit | doesn't fit |
| Sell Nado live order book, 36 min ago | 0.60 bp | 11.9 bp −$12 | 25.7 bp −$257 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERPshort | −0.0018% | 1h | 501.95 | −0.025% | $414K | $64K | 20x | |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 501.76 | −0.064% | $687K | $450K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0003% | 8h | 502.30 | +0.044% | $188K | $209K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.21 | +0.026% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 502.17 | +0.018% | $337K | $392K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.26 | +0.035% | $15.7M | $19.1M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.31 | +0.046% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.05 | −0.006% | $3.2M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 502.28 | +0.040% | $3.8M | $2.3M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 502.26 | +0.036% | $1.3M | $702K | — | as long as short |
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.16 | +0.015% | $18K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.05 | +0.193% | $6K | $4.3M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.14 | +0.012% | $59K | $227K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.37 | +0.058% | $2.2M | $750K | 10x | as long as short |
| Bybit MSFTUSDT | +0.0028% | 8h | 502.32 | +0.048% | $7.4M | $1.7M | 100x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 502.14 | +0.012% | $639K | $2.1M | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0032% | 1h | 501.87 | −0.042% | $32K | $8K | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 502.10 | +0.004% | — | $1K | 25x | as long as short |
| QFEX MSFT-USD | +0.0049% | 1h | 502.14 | +0.012% | $1.1M | $5.8M | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.92 | −0.032% | $22.3M | $9.6M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.78 | −0.060% | $303K | $678K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.20 | +0.024% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.91 | −0.034% | $529K | $494K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 502.18 | +0.021% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.94 | −0.028% | $10K | $15K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUALlong | +0.0089% | 1h | 502.08 | long leg | $27K | $101K | 10x | |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.69 | −0.078% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.91 | −0.034% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 502.17 | +0.018% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 502.19 | +0.022% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0160% | 1h | 502.36 | +0.056% | $1.1M | $585K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.57 | +0.098% | $115K | $45K | 30x | as long as short |
| Arcus MSFT-USD | +0.0286% | 1h | 502.16 | +0.016% | $97K | $109K | 10x | as long as short |
| edgeX MSFTUSDC | +0.0865% | 4h | 502.25 | +0.035% | $102K | $244K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Bybit MSFTUSDT
Lighter RH MSFT
Hotstuff MSFT-PERP
Vest MSFT-USD-PERP
QFEX MSFT-USD
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP
Arcus MSFT-USD
edgeX MSFTUSDC