After costs, if the gap returns to its 7d average, $10k−$86
spread now+0.092%7d average+0.071%fees + slippage, in and out−$88spread needed0.877%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado MSFT-PERP | 492.71 | −0.0002 | get 0.0000% / 1h | 34m 14s | $458K | $4K | 20x |
| Short | Phemex MSFTUSDT | 493.17 | 0 | get 0.0000% / 8h | 34m 14s | $2.1M | $485K | 10x |
Nado MSFT-PERP
Phemex MSFTUSDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $9.24
- Funding while held
- $0.06
- Slippage, 4 orders
- −$68.7
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$78.4
- Spread needed to break even
- 0.877%
Slippage from Nado: live order book, 15 min ago; Phemex: live order book, 6 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0002%
- Per $10,000 a day
- +$0.06
- Average in range /8h
- —
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 | 0.61 bp | 10.6 bp −$11 | 18.9 bp −$189 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 6 min ago | 0.61 bp | 40.1 bp −$40 | doesn't fit | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Polymarket Perps492.44cheapesttradeXYZ492.52+0.016%Hotstuff492.52+0.016%Vest492.54+0.020%Deribit492.54+0.020%Ondo Perps492.57+0.026%KuCoin492.62+0.037%OKX492.68+0.049%SoDEX492.68+0.049%Lighter RH492.69+0.051%Gate492.69+0.051%
Polymarket Perps
tradeXYZ
Hotstuff
Vest
Deribit
Ondo Perps
KuCoin
OKX
SoDEX
Lighter RH
GateNado492.71+0.056%
Orderly492.73+0.059%Extended492.79+0.071%Lighter492.80+0.073%Aevo492.80+0.074%ApeX Omni492.81+0.075%HTX492.81+0.075%Arcus492.84+0.081%Bitget492.85+0.083%Paradex492.86+0.085%Bybit492.87+0.087%Binance492.88+0.089%QFEX492.90+0.093%Aster492.99+0.112%BloFin493.00+0.114%Coinbase International493.01+0.116%Phoenix493.04+0.122%Variational Omni493.06+0.126%
Orderly
Extended
Lighter
Aevo
ApeX Omni
HTX
Arcus
Bitget
Paradex
Bybit
Binance
QFEX
Aster
BloFin
Coinbase International
Phoenix
Variational OmniPhemex493.17+0.148%
edgeX493.30+0.176%Injective493.40+0.195%SunX493.53+0.221%
Injective
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Polymarket Perps MSFT-USD | −0.056% | +0.0050% | 1h | $287K | $472K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.040% | +0.0050% | 1h | $23.1M | $6.1M | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.040% | +0.0056% | 1h | $40K | — | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.035% | +0.0046% | 1h | — | — | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.035% | 0.0000% | 1h | $27K | $104K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.029% | +0.0050% | 1h | $536K | $373K | 15x | as long as short |
| KuCoin MSFTUSDTM | −0.019% | +0.0100% | 8h | $1.4M | $7K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | −0.007% | 0.0000% | 8h | $3.1M | $1.4M | 20x | as long as short |
| SoDEX MSFT-USD | −0.007% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Lighter RH MSFT | −0.005% | +0.0032% | 1h | $685K | $2.0M | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | −0.005% | 0.0000% | 8h | $3.0M | $1.0M | 100x | as long as short |
| Nado MSFT-PERPlong | 0.000% | −0.0002% | 1h | $458K | $4K | 20x | |
| Orderly PERP_MSFT_USDC_mythos | +0.003% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Extended MSFT_24_5-USD | +0.015% | 0.0000% | 1h | $327K | $380K | 17x | as long as short |
| Lighter MSFT | +0.017% | +0.0032% | 1h | $1.1M | $529K | 20x | as long as short |
| Aevo MSFT-PERP | +0.018% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| ApeX Omni MSFTUSDT | +0.019% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| HTX MSFT-USDT | +0.019% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Arcus MSFT-USD | +0.025% | +0.0325% | 1h | $112K | $48K | 10x | as long as short |
| Bitget MSFTUSDT | +0.027% | 0.0000% | 8h | $3.7M | $1.6M | 100x | as long as short |
| Paradex MSFT-USD-PERP | +0.029% | +0.0052% | 8h | $217 | — | 5x | as long as short |
| Bybit MSFTUSDT | +0.032% | 0.0000% | 8h | $7.4M | $1.1M | 100x | as long as short |
| Binance MSFTUSDT | +0.034% | +0.0002% | 8h | $15.7M | $13.1M | 20x | as long as short |
| QFEX MSFT-USD | +0.038% | +0.0052% | 1h | $1.1M | $3.4M | 10x | as long as short |
| Aster MSFTUSDT | +0.056% | 0.0000% | 8h | $151K | $80K | 20x | as long as short |
| BloFin MSFT-USDT | +0.058% | +0.0023% | 8h | $197K | $143K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | +0.060% | −0.0008% | 1h | $663K | $333K | 10x | as long as short |
| Phoenix MSFT | +0.066% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| Variational Omni MSFT | +0.070% | 0.0000% | 8h | $1.2M | $690K | — | as long as short |
| Phemex MSFTUSDTshort | +0.092% | 0.0000% | 8h | $2.1M | $485K | 10x | |
| edgeX MSFTUSDC | +0.120% | +0.0364% | 4h | $100K | $244K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.139% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| SunX MSFT-USDT | +0.165% | 0.0000% | 8h | $6K | $3.9M | 20x | as long as short |