Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.077%

Price spread now: Variational Omni against Arcus+0.035%7-day average +0.035% · you sell dearer than you buy

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.140%−$14 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now +0.035%, 7d avg +0.035%

Together, before fees−0.004%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	501.31	0.0040	pay 0.0005% / 1h	26m 49s	$97K	$109K	10x
Short	Variational Omni MSFT	501.49	0	get 0.0000% / 8h	6h 26m	$1.3M	$682K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.035%Rate

Funding earned: −$8.46
Price spread: +0.035% → +0.035%: $0.07
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$12.88
Costs to cover: 0.045%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 41 min ago; Variational Omni: RFQ quote, 2 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 Arcus live order book, 41 min ago	2.29 bp	8.3 bp −$8	12.7 bp −$127	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.53 bp	doesn't fit	18.4 bp −$184	doesn't fit	doesn't fit

MSFT on 33 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
Hotstuff MSFT-PERP	−0.0064%	1h	501.15	−0.032%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.87	−0.088%	$684K	$451K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.49	+0.036%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.44	+0.025%	$342K	$894K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.56	+0.050%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.46	+0.030%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.65	+0.068%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.40	+0.018%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.43	+0.024%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	501.49	+0.035%	$1.3M	$682K	—

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.43	+0.023%	$19K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.33	+0.203%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.45	+0.028%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.59	+0.056%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERP	+0.0005%	1h	501.18	−0.026%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.37	+0.012%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.45	+0.028%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USDlong	+0.0040%	1h	501.31	long leg	$97K	$109K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	501.31	0.000%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.07	−0.048%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.21	−0.020%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.45	+0.028%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.15	−0.032%	$521K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	501.39	+0.017%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.21	−0.020%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.12	−0.038%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.07	−0.048%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.42	+0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.43	+0.024%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0149%	1h	501.34	+0.006%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.65	+0.068%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.62	+0.062%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0314%	4h	501.51	+0.040%	$102K	$242K	10x	as long as short