Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.065%

Price spread now: Paradex against Arcus−0.039%57s7-day average — · you buy dearer than you sell

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

Long on Arcus Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Paradex is 0.039% cheaper against Arcus than usual: you would sell low and buy high (spread −0.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 11 days of funding at the current rate ($0 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	504.17	0.0040	pay 0.0005% / 1h	46m 41s	$97K	$110K	10x
Short	Paradex MSFT-USD-PERP	503.97	0.0052	get 0.0052% / 8h	7h 46m	$222	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Arcus. 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 ArcusbpFee ParadexbpOrdersPrice spread, now −0.039%Rate

Funding earned: $2.47
Price spread: −0.039% → 0.000%: −$3.93
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$9.95
Costs to cover: 0.085%
Break-even: 35.2 days

Slippage unknown: Arcus: live order book, 51 min ago; Paradex: 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 Arcus live order book, 51 min ago	3.87 bp	8.4 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0960%	4h	504.46	+0.057%	$103K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0084%	1h	504.22	+0.010%	$415K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	504.06	−0.022%	$683K	$492K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.32	+0.030%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.12	−0.010%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.22	+0.009%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.01	−0.032%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.29	+0.024%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.06	−0.022%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.14	−0.006%	$3.9M	$3.0M	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	504.39	+0.044%	$1.3M	$401K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.57	+0.079%	$18K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.21	+0.206%	$6K	$3.7M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.87	−0.060%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.26	+0.018%	$59K	$224K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.41	+0.048%	$2.2M	$827K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.20	+0.006%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.41	+0.048%	$1.1M	$4.6M	10x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	504.34	+0.034%	$191K	$205K	20x	as long as short
Lighter MSFT	+0.0032%	1h	504.06	−0.022%	$1.2M	$510K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.03	−0.028%	$697K	$1.9M	20x	as long as short
Arcus MSFT-USDlong	+0.0040%	1h	504.17	long leg	$97K	$110K	10x
tradeXYZ xyz:MSFT	+0.0045%	1h	503.79	−0.075%	$22.4M	$9.0M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.46	+0.058%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.23	+0.012%	$304K	$679K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.06	−0.022%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.00	−0.034%	$514K	$411K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0052%	8h	503.97	−0.039%	$222	—	5x
KuCoin MSFTUSDTM	+0.0100%	8h	503.89	−0.056%	$1.6M	$97K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.18	+0.002%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.39	+0.044%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.27	+0.020%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0184%	1h	504.01	−0.032%	$33K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.94	+0.351%	$116K	$45K	30x	as long as short