Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.004%

Price spread now: SoDEX against Binance−0.058%7-day average — · you buy dearer than you sell

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

Long on Binance 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

Funding pays, the price is against you. SoDEX is 0.058% cheaper against Binance than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 3.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	501.61	0	get 0.0000% / 8h	4h 23m	$15.8M	$19.0M	20x
Short	SoDEX MSFT-USD	501.32	0.0050	get 0.0006% / 1h	23m 02s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $10.5
Price spread: −0.058% → 0.000%: −$5.85
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$13.35
Costs to cover: 0.180%
Break-even: 15.9 days

Slippage unknown: Binance: live order book, 3 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 Binance live order book, 3 min ago	0.10 bp	6.8 bp −$7	12.8 bp −$128	51.7 bp −$5,168	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	−0.0822%	4h	501.43	−0.037%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.128%	$678K	$455K	10x	as long as short
Nado MSFT-PERP	−0.0006%	1h	501.29	−0.064%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.32	−0.059%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.48	−0.026%	$337K	$893K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	501.61	long leg	$15.8M	$19.0M	20x
Bybit MSFTUSDT	0.0000%	8h	501.24	−0.074%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.56	−0.011%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.32	−0.058%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.39	−0.045%	$4.5M	$2.5M	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	501.34	−0.054%	$1.3M	$616K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.41	−0.041%	$18K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.34	+0.145%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.48	−0.027%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.82	+0.041%	$2.2M	$777K	10x	as long as short
BloFin MSFT-USDT	+0.0027%	8h	501.48	−0.027%	$189K	$204K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0029%	1h	501.35	−0.052%	$27K	$41K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.37	−0.048%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.43	−0.037%	$1.2M	$5.4M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.19	−0.084%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.35	−0.052%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.08	−0.106%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.04	−0.114%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.17	−0.088%	$302K	$722K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	501.32	−0.058%	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.05	−0.112%	$527K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.43	−0.037%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	501.00	−0.122%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.09	−0.104%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.92	−0.138%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.45	−0.033%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	−0.033%	$55	—	10x	as long as short
Lighter MSFT	+0.0136%	1h	501.57	−0.009%	$1.1M	$499K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.63	+0.003%	$115K	$45K	30x	as long as short