MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0141%/8h= −15.4% APRnext payment −$0.18 per $10,000 · paid last 24h −0.014%

Price spread now: Nado against QFEX+0.008%7-day average −0.019% · 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−$35as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on QFEX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.055%−$5 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.008%, 7d avg −0.019%

Together, before fees−0.137%+ Points / potential airdropNado: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.027% dearer against QFEX than usual: you sell high and buy low (spread +0.008% now, against its 7-day average of −0.019%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 3 days (−0.055% in total) that is about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	503.09	0.0035	pay 0.0004% / 1h	16m 07s	$1.1M	$4.9M	10x
Short	Nado MSFT-PERP	503.13	−0.0106	pay 0.0013% / 1h	16m 07s	$415K	$64K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against QFEX. 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 QFEXbpFee NadobpOrdersPrice spread, now +0.008%Rate

Funding earned: −$29.61
Price spread: +0.008% → −0.019%: $2.66
Slippage, 4 orders: −$20.23
Fee QFEX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$64.17
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from QFEX: live order book, 8 min ago; Nado: live order book, 37 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 QFEX live order book, 8 min ago	1.09 bp	6.1 bp −$6	8.9 bp −$89	15.8 bp −$1,581	doesn't fit
Sell Nado live order book, 37 min ago	0.70 bp	13.0 bp −$13	24.1 bp −$241	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
edgeX MSFTUSDC	−0.0148%	4h	503.01	−0.016%	$102K	$243K	10x	as long as short
Nado MSFT-PERPshort	−0.0106%	1h	503.13	+0.008%	$415K	$64K	20x
Deribit MSFT_USDC-PERPETUAL	−0.0088%	1h	502.86	−0.046%	$27K	$42K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	502.66	−0.085%	$680K	$451K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0008%	1h	502.83	−0.052%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.14	+0.010%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.09	0.000%	$339K	$884K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.23	+0.028%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.00	−0.018%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.30	+0.042%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	503.02	−0.014%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.08	−0.002%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.01	−0.017%	$1.3M	$606K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.14	+0.010%	$19K	$301K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.98	+0.177%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.11	+0.004%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.29	+0.040%	$2.2M	$786K	10x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	503.21	+0.024%	$189K	$205K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.31	+0.044%	$1.1M	$504K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.05	−0.008%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USDlong	+0.0035%	1h	503.09	long leg	$1.1M	$4.9M	10x
Arcus MSFT-USD	+0.0040%	1h	502.82	−0.054%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.19	+0.020%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.88	−0.042%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.83	−0.052%	$304K	$705K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.05	−0.008%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	503.13	+0.009%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.74	−0.070%	$512K	$462K	15x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	502.74	−0.070%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.78	−0.062%	$1.6M	$55K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.91	−0.036%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.12	+0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.15	+0.012%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	−0.002%	$115K	$45K	30x	as long as short