Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h +0.016%

Price spread now: BloFin against Nado+0.059%7-day average +0.046% · 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−$41as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.072%+$7 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now +0.059%, 7d avg +0.046%

Together, before fees+0.094%+ Points / potential airdropNado: Active · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSFT-PERP	503.53	−0.0102	get 0.0013% / 1h	7m 13s	$414K	$65K	20x
Short	BloFin MSFT-USDT	503.83	−0.0023	pay 0.0023% / 8h	3h 07m	$189K	$205K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.059%Rate

Funding earned: $16.53
Price spread: +0.059% → +0.046%: $1.26
Slippage, 4 orders: −$22.86
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$24.06
Costs to cover: 0.419%
Break-even: 17.2 days

Slippage from Nado: live order book, 46 min ago; BloFin: live order book, 13 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, 46 min ago	0.70 bp	12.0 bp −$12	26.0 bp −$260	doesn't fit	doesn't fit
Sell BloFin live order book, 13 min ago	0.20 bp	8.0 bp −$8	10.9 bp −$109	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
Hotstuff MSFT-PERP	−0.0112%	1h	503.30	−0.046%	$32K	$8K	20x	as long as short
Nado MSFT-PERPlong	−0.0102%	1h	503.53	long leg	$414K	$65K	20x
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	503.14	−0.078%	$681K	$452K	10x	as long as short
BloFin MSFT-USDTshort	−0.0023%	8h	503.83	+0.059%	$189K	$205K	20x
Aster MSFTUSDT	0.0000%	8h	503.57	+0.007%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.59	+0.011%	$339K	$885K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.72	+0.037%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.54	+0.001%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.83	+0.059%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.48	−0.011%	$3.1M	$1.8M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.65	+0.023%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.85	−0.136%	$1.3M	$490K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.55	+0.003%	$18K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.51	+0.194%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.58	+0.009%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.63	+0.019%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.83	+0.059%	$2.2M	$781K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0011%	1h	503.27	−0.052%	$22.3M	$8.8M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.76	+0.045%	$1.1M	$514K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.53	−0.001%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.64	+0.021%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.19	−0.068%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.58	+0.009%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.14	−0.078%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.27	−0.052%	$304K	$712K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.62	+0.017%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	−0.056%	$512K	$459K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.63	+0.019%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.14	−0.078%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.14	−0.078%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.64	+0.021%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.66	+0.025%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0208%	4h	503.56	+0.006%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	−0.090%	$115K	$45K	30x	as long as short