Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.008%

Price spread now: Variational Omni against Binance−0.018%7-day average −0.007% · you buy dearer than you sell

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

Long on Binance Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 2 days (all we have)−0.002%$0 · spread now −0.018%, 7d avg −0.007%

Together, before fees−0.019%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	501.54	0	get 0.0000% / 8h	7h 13m	$15.7M	$18.7M	20x
Short	Variational Omni MSFT	501.45	0	get 0.0000% / 8h	7h 13m	$1.3M	$690K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → −0.007%: −$1.19
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.19
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 min ago; Variational Omni: RFQ quote, just now. 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, 12 min ago	0.10 bp	6.3 bp −$6	12.1 bp −$121	46.9 bp −$4,693	doesn't fit
Sell Variational Omni RFQ quote, just now	2.95 bp	doesn't fit	17.8 bp −$178	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
BloFin MSFT-USDT	−0.0016%	8h	501.51	−0.006%	$188K	$205K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.060%	$685K	$453K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.53	−0.002%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.43	−0.023%	$337K	$900K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	501.54	long leg	$15.7M	$18.7M	20x
Bybit MSFTUSDT	0.0000%	8h	501.31	−0.046%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.51	−0.006%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.36	−0.036%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.58	+0.008%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	501.45	−0.018%	$1.3M	$690K	—

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	501.51	−0.006%	$18K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.26	+0.144%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.14	−0.080%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.43	−0.022%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.06	+0.104%	$2.2M	$760K	10x	as long as short
Nado MSFT-PERP	+0.0016%	1h	501.12	−0.084%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.30	−0.048%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.42	−0.024%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.31	−0.046%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.16	−0.076%	$22.2M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.17	−0.074%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.43	−0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.99	−0.110%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.40	−0.028%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.11	−0.086%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.32	−0.044%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.02	−0.104%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.41	−0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.38	−0.033%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	501.52	−0.004%	$1.1M	$486K	20x	as long as short
Hotstuff MSFT-PERP	+0.0152%	1h	501.16	−0.076%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.32	−0.044%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.82	+0.056%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0600%	4h	501.39	−0.030%	$102K	$244K	10x	as long as short