Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h +0.001%

Price spread now: HTX against Nado−0.008%7-day average +0.018% · 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−$40as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Nado Short on HTX

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)+0.063%+$6 · spread now −0.008%, 7d avg +0.018%

Together, before fees+0.099%+ Points / potential airdropNado: Active · farm board+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.026% cheaper against Nado than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.018%). If the spread goes back, that is −$3 on $10k: about 16 hours of funding at the current rate (+$4 a day). At the pace of the last 3 days (+0.036% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado MSFT-PERP	501.42	−0.0130	get 0.0016% / 1h	47m 50s	$414K	$64K	20x
Short	HTX MSFT-USDT	501.38	0	get 0.0000% / 8h	5h 47m	$59K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $27.27
Price spread: −0.008% → +0.018%: −$2.62
Slippage, 4 orders: −$18.1
Fee Nado: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$12.45
Costs to cover: 0.371%
Break-even: 10.2 days

Slippage from Nado: live order book, 15 min ago; HTX: live order book, 14 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, 15 min ago	0.70 bp	13.7 bp −$14	29.9 bp −$299	doesn't fit	doesn't fit
Sell HTX live order book, 14 min ago	2.69 bp	8.7 bp −$9	14.3 bp −$143	doesn't fit	doesn't fit

MSFT on 33 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-PERPlong	−0.0130%	1h	501.42	long leg	$414K	$64K	20x
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.036%	$679K	$456K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0007%	1h	501.29	−0.026%	$22.1M	$9.1M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.72	+0.060%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.57	+0.029%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.73	+0.061%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.64	+0.044%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.67	+0.050%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.41	−0.002%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.61	+0.038%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.49	+0.013%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.60	+0.036%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.29	+0.173%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.27	−0.030%	$27K	$41K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	501.38	−0.008%	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	501.71	+0.058%	$2.2M	$763K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.40	−0.004%	$1.1M	$5.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.65	+0.046%	$1.1M	$454K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.40	−0.004%	$668K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.37	−0.010%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.59	+0.034%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.18	−0.048%	$303K	$646K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.53	+0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.12	−0.060%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.48	+0.012%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.28	−0.028%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.12	−0.060%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.56	+0.028%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.036%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.44	+0.004%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.44	+0.004%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.81	+0.077%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0799%	4h	501.52	+0.020%	$102K	$243K	10x	as long as short