MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0072%/8h= +7.9% APRnext payment +$0.09 per $10,000 · paid last 24h +0.016%

Price spread now: Phoenix against Nado−0.020%57s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.020% cheaper against Nado than usual: you would sell low and buy high (spread −0.020% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 22 hours of funding at the current rate (+$2 a day). The two prices were read 57 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	Nado MSFT-PERP	501.02	−0.0024	get 0.0003% / 1h	38m 08s	$414K	$64K	20x
Short	Phoenix MSFT	500.92	0.0048	get 0.0006% / 1h	38m 08s	$10K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.020%Rate

Funding earned: $15.1
Price spread: −0.020% → 0.000%: −$2
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$0.9
Costs to cover: 0.140%
Break-even: 7.4 days

Slippage unknown: Nado: live order book, 20 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 20 min ago	1.00 bp	12.5 bp −$13	26.0 bp −$260	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.010%	$678K	$456K	10x	as long as short
Nado MSFT-PERPlong	−0.0024%	1h	501.02	long leg	$414K	$64K	20x
Aster MSFTUSDT	0.0000%	8h	501.04	+0.005%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.24	+0.045%	$341K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.37	+0.069%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.02	0.000%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.39	+0.074%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.23	+0.042%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.34	+0.064%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.35	+0.066%	$1.3M	$613K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.38	+0.072%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.12	+0.220%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.07	+0.010%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.17	+0.030%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.44	+0.084%	$2.2M	$779K	10x	as long as short
BloFin MSFT-USDT	+0.0010%	8h	501.40	+0.076%	$189K	$204K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	500.85	−0.034%	$32K	$8K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.12	+0.020%	$674K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.24	+0.044%	$1.1M	$5.5M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.09	+0.014%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.05	+0.006%	—	$1K	25x	as long as short
Phoenix MSFTshort	+0.0048%	1h	500.92	−0.020%	$10K	$15K	20x
tradeXYZ xyz:MSFT	+0.0050%	1h	500.86	−0.032%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.92	−0.020%	$318K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.24	+0.044%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.97	−0.010%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.25	+0.045%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.86	−0.032%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.05	+0.006%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.27	+0.050%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.25	+0.047%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.37	+0.070%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.66	+0.128%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0513%	4h	501.36	+0.069%	$102K	$242K	10x	as long as short