Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Orderly against Aevo−0.008%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Orderly

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSFT-PERP	501.61	0.0104	pay 0.0013% / 1h	23m 19s	$55	—	10x
Short	Orderly PERP_MSFT_USDC_mythos	501.57	0.0100	get 0.0100% / 8h	2h 23m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.008%Rate

Funding earned: −$0.84
Price spread: −0.008% → 0.000%: −$0.8
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$23.64
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: 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 Aevo no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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	501.53	−0.016%	$689K	$433K	10x	as long as short
Nado MSFT-PERP	−0.0024%	1h	501.51	−0.020%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	0.0000%	8h	501.67	+0.012%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.85	+0.048%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.62	+0.001%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.68	+0.014%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.83	+0.044%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.81	+0.040%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.52	−0.018%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.70	+0.018%	$3.8M	$2.2M	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	501.67	+0.011%	$1.3M	$726K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.75	+0.028%	$18K	$330K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.43	+0.163%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.57	−0.008%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.53	−0.016%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.83	+0.044%	$2.2M	$765K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.40	−0.042%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.70	+0.018%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.60	−0.002%	$652K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.70	+0.018%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.39	−0.044%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.28	−0.066%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.61	0.000%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.66	+0.010%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.25	−0.072%	$521K	$485K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.69	+0.016%	$1.1M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.45	−0.032%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.29	−0.064%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.53	−0.016%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	501.57	−0.008%	$8K	—	10x
Aevo MSFT-PERPlong	+0.0104%	1h	501.61	long leg	$55	—	10x
Injective MSFT/USDC PERP	+0.0220%	1h	502.03	+0.084%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.53	−0.016%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0989%	4h	501.68	+0.015%	$102K	$242K	10x	as long as short