Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: GRVT against ApeX Omni+0.070%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on ApeX Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.070%, 7d avg +0.078%

Together, before fees−0.207%+ Points / potential airdropGRVT: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.078%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSFTUSDT	500.94	0.0100	pay 0.0013% / 1h	44m 39s	$159K	$7K	50x
Short	GRVT MSFT_USDT_Perp	501.29	0	get 0.0000% / 8h	4h 44m	$19K	$300K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against ApeX Omni. 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 ApeX OmnibpFee GRVTbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$21
Price spread: +0.070% → +0.078%: −$0.79
Slippage, 4 orders: −$17.71
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$58.49
Costs to cover: 0.367%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 11 min ago; GRVT: live order book, 13 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 ApeX Omni live order book, 11 min ago	5.09 bp	10.1 bp −$10	68.3 bp −$683	doesn't fit	doesn't fit
Sell GRVT live order book, 13 min ago	1.20 bp	8.2 bp −$8	doesn't fit	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
Nado MSFT-PERP	−0.0044%	1h	501.06	+0.025%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	+0.006%	$678K	$458K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.03	+0.019%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.19	+0.050%	$341K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.28	+0.068%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.02	+0.016%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.31	+0.074%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.21	+0.054%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.32	+0.076%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	+0.066%	$1.3M	$617K	—	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_Perpshort	0.0000%	8h	501.29	+0.070%	$19K	$300K	10x
SunX MSFT-USDT	0.0000%	8h	502.09	+0.230%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.97	+0.006%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.18	+0.048%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.55	+0.122%	$2.2M	$777K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	500.84	−0.020%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	501.32	+0.076%	$189K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.11	+0.034%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.21	+0.054%	$1.1M	$5.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.01	+0.014%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.07	+0.026%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.04	+0.020%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.81	−0.026%	$22.0M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.87	−0.014%	$295K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	+0.054%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.84	−0.020%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.14	+0.040%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.80	−0.028%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDTlong	+0.0100%	1h	500.94	long leg	$159K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.19	+0.050%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.27	+0.066%	$1.1M	$489K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.20	+0.052%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.34	+0.080%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0292%	4h	501.27	+0.066%	$102K	$244K	10x	as long as short