Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0050%/8hnext payment −$0.06 per $10,000 · paid last 24h −0.015%

Price spread now: SoDEX against ApeX Omni+0.098%7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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. SoDEX is 0.098% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.098% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSFTUSDT	500.84	0.0100	pay 0.0013% / 1h	4m 59s	$159K	$7K	50x
Short	SoDEX MSFT-USD	501.33	0.0050	get 0.0006% / 1h	4m 59s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$10.5
Price spread: +0.098% → 0.000%: $9.78
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$18.72
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 25 min ago; SoDEX: 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 ApeX Omni live order book, 25 min ago	5.10 bp	10.1 bp −$10	63.6 bp −$636	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
edgeX MSFTUSDC	−0.0549%	4h	500.58	−0.051%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0028%	1h	500.58	−0.052%	$449K	$44K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	499.93	−0.182%	$692K	$403K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.02	+0.036%	$156K	$110K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.30	+0.092%	$371K	$401K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.37	+0.106%	$15.6M	$18.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.33	+0.098%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.39	+0.110%	$3.1M	$2.2M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.04	+0.040%	$3.1M	$1.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.10	+0.052%	$1.3M	$741K	—	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_Perp	0.0000%	8h	501.24	+0.080%	$18K	$340K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.16	+0.264%	$6K	$4.4M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.26	+0.084%	$58K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.49	+0.130%	$2.2M	$730K	10x	as long as short
Bitget MSFTUSDT	+0.0009%	8h	501.21	+0.074%	$3.9M	$2.0M	100x	as long as short
BloFin MSFT-USDT	+0.0027%	8h	501.32	+0.096%	$192K	$206K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0029%	1h	501.17	+0.066%	$27K	$115K	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.45	+0.122%	$1.1M	$635K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.30	+0.092%	$667K	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	500.63	−0.042%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0045%	1h	500.90	+0.012%	$1.1M	$5.5M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.05	+0.042%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.05	+0.042%	$22.2M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.80	−0.008%	$315K	$654K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	501.33	+0.098%	$60K	$3K	10x
Paradex MSFT-USD-PERP	+0.0050%	8h	500.82	−0.005%	$220	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.51	−0.066%	$514K	$474K	15x	as long as short
Phoenix MSFT	+0.0080%	1h	500.53	−0.062%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.70	−0.028%	$1.5M	$11K	20x	as long as short
ApeX Omni MSFTUSDTlong	+0.0100%	1h	500.84	long leg	$159K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.00	+0.032%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.00	+0.031%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	500.34	−0.100%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0553%	1h	500.90	+0.012%	$111K	$76K	10x	as long as short