Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Bitget−0.028%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.028% cheaper against Bitget than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 44 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	503.97	0	get 0.0000% / 8h	1h 33m	$3.8M	$3.0M	100x
Short	SoDEX MSFT-USD	503.83	0.0050	get 0.0006% / 1h	33m 11s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bitget. 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 BitgetbpFee SoDEXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $10.5
Price spread: −0.028% → 0.000%: −$2.78
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.28
Costs to cover: 0.200%
Break-even: 15.2 days

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	2.48 bp	11.6 bp −$12	15.3 bp −$153	40.0 bp −$4,000	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	−0.0088%	4h	503.94	−0.006%	$103K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.062%	$682K	$500K	10x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	503.54	−0.085%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.80	−0.033%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.91	−0.013%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.04	+0.014%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.77	−0.040%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.93	−0.008%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.82	−0.030%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	503.97	long leg	$3.8M	$3.0M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	504.01	+0.007%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.01	+0.008%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.77	+0.159%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.77	−0.040%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.84	−0.026%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.90	−0.014%	$2.2M	$821K	10x	as long as short
Nado MSFT-PERP	+0.0013%	1h	503.72	−0.049%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	+0.0023%	8h	504.00	+0.006%	$191K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.81	−0.032%	$689K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.91	−0.012%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.71	−0.052%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.88	−0.018%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.54	−0.085%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.68	−0.058%	$303K	$718K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	503.83	−0.028%	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.54	−0.085%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	503.86	−0.023%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.69	−0.056%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.46	−0.101%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.64	−0.065%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.91	−0.012%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.91	−0.012%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	504.08	+0.022%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.048%	$115K	$45K	30x	as long as short