Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: OKX against Aevo+0.020%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 OKX

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—needs both histories

The price spread pays, funding is against you. OKX is 0.020% dearer against Aevo than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSFT-PERP	502.08	0.0104	pay 0.0013% / 1h	27m 07s	$55	—	10x
Short	OKX MSFT-USDT-SWAP	502.18	0	get 0.0000% / 8h	1h 27m	$3.0M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$21.84
Price spread: +0.020% → 0.000%: $2.04
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.8
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	1.49 bp	8.5 bp −$9	15.8 bp −$158	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
BloFin MSFT-USDT	−0.0023%	8h	502.16	+0.016%	$188K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.12	+0.008%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.07	−0.002%	$337K	$407K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.16	+0.016%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	502.18	+0.020%	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.92	−0.031%	$3.1M	$1.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.98	−0.019%	$1.3M	$708K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.05	−0.005%	$19K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.92	+0.168%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.87	−0.041%	$27K	$104K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.099%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.03	−0.009%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.45	+0.074%	$2.2M	$763K	10x	as long as short
Bitget MSFTUSDT	+0.0005%	8h	502.08	+0.001%	$3.8M	$2.2M	100x	as long as short
Bybit MSFTUSDT	+0.0019%	8h	502.17	+0.018%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.00	−0.015%	$652K	$2.1M	20x	as long as short
Nado MSFT-PERP	+0.0034%	1h	501.90	−0.035%	$414K	$64K	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.04	−0.007%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.89	−0.037%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.74	−0.067%	$22.3M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.71	−0.073%	$306K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.07	−0.001%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.76	−0.063%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0061%	8h	502.02	−0.012%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.88	−0.039%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.58	−0.099%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.89	−0.037%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.03	−0.009%	$8K	—	10x	as long as short
Aevo MSFT-PERPlong	+0.0104%	1h	502.08	long leg	$55	—	10x
Lighter MSFT	+0.0160%	1h	502.16	+0.016%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.04	−0.007%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.17	+0.018%	$115K	$45K	30x	as long as short
Hotstuff MSFT-PERP	+0.0224%	1h	501.79	−0.057%	$32K	$8K	20x	as long as short
edgeX MSFTUSDC	+0.0633%	4h	502.01	−0.014%	$102K	$242K	10x	as long as short