Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: GRVT against Aevo+0.084%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. GRVT is 0.084% dearer against Aevo than usual: you sell high and buy low (spread +0.084% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSFT-PERP	503.03	0.0104	pay 0.0013% / 1h	55m 17s	$55	—	10x
Short	GRVT MSFT_USDT_Perp	503.45	0	get 0.0000% / 8h	2h 55m	$19K	$307K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Aevo. 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 AevobpFee GRVTbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$21.84
Price spread: +0.084% → 0.000%: $8.38
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$38.46
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; GRVT: live order book, 57 min ago. 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 Aevo no order-book sample	—	—	—	—	—
Sell GRVT live order book, 57 min ago	1.20 bp	7.5 bp −$8	10.8 bp −$108	doesn't fit	doesn't fit

Aevo: 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	−0.0064%	1h	503.29	+0.051%	$685K	$461K	10x	as long as short
Nado MSFT-PERP	−0.0055%	1h	502.91	−0.025%	$412K	$66K	20x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	503.14	+0.021%	$190K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.99	−0.009%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.03	0.000%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.20	+0.033%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.98	−0.011%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.23	+0.039%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.00	−0.007%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.09	+0.011%	$4.4M	$2.6M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.19	+0.031%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perpshort	0.0000%	8h	503.45	+0.084%	$19K	$307K	10x
SunX MSFT-USDT	0.0000%	8h	503.94	+0.180%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.85	−0.036%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.05	+0.003%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.75	+0.142%	$2.2M	$791K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	502.85	−0.036%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.22	+0.037%	$1.2M	$495K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.95	−0.017%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.15	+0.023%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.22	+0.037%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.22	+0.037%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.13	+0.019%	$11K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	502.79	−0.048%	$22.2M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.82	−0.042%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.97	−0.013%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.83	−0.040%	$513K	$463K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.00	−0.007%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.88	−0.030%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.22	+0.037%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.97	−0.013%	$8K	—	10x	as long as short
Aevo MSFT-PERPlong	+0.0104%	1h	503.03	long leg	$55	—	10x
edgeX MSFTUSDC	+0.0118%	4h	503.66	+0.124%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.041%	$115K	$45K	30x	as long as short