Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: OKX against Binance+0.006%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 7 days+0.010%+$1 · spread now +0.006%, 7d avg −0.004%

Together, before fees−0.005%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	504.84	0	get 0.0000% / 8h	7h 03m	$16.3M	$19.6M	20x
Short	OKX MSFT-USDT-SWAP	504.87	0	get 0.0000% / 8h	7h 03m	$3.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Binance. 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 BinancebpFee OKXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0
Price spread: +0.006% → −0.004%: $1.03
Slippage, 4 orders: −$8.18
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.15
Costs to cover: 0.282%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; OKX: live order book, 4 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 Binance live order book, 8 min ago	0.10 bp	5.8 bp −$6	11.6 bp −$116	50.2 bp −$5,021	doesn't fit
Sell OKX live order book, 4 min ago	0.69 bp	8.1 bp −$8	9.3 bp −$93	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
edgeX MSFTUSDC	−0.0838%	4h	504.53	−0.062%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	504.35	−0.097%	$693K	$455K	10x	as long as short
BloFin MSFT-USDT	−0.0011%	8h	504.92	+0.016%	$191K	$206K	20x	as long as short
Nado MSFT-PERP	−0.0007%	1h	504.43	−0.081%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.56	−0.055%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.71	−0.027%	$336K	$1.9M	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	504.84	long leg	$16.3M	$19.6M	20x
Bybit MSFTUSDT	0.0000%	8h	504.52	−0.063%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	504.87	+0.006%	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	504.55	−0.057%	$3.1M	$1.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	504.81	−0.006%	$3.9M	$2.8M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.53	−0.061%	$1.3M	$394K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	505.63	+0.156%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.45	−0.077%	$27K	$45K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.57	−0.053%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	505.06	+0.044%	$2.2M	$861K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.31	−0.105%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.69	−0.030%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.59	−0.050%	$1.2M	$534K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.63	−0.042%	$698K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.50	−0.067%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.62	−0.044%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.32	−0.103%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.44	−0.079%	$304K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.56	−0.055%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.35	−0.097%	$536K	$387K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	504.60	−0.047%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	504.29	−0.109%	$33K	$8K	20x	as long as short
GRVT MSFT_USDT_Perp	+0.0072%	8h	504.59	−0.049%	$19K	$312K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	504.01	−0.164%	$1.6M	$138K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.14	−0.139%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.67	−0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.65	−0.038%	$56	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.07	−0.153%	$115K	$45K	30x	as long as short