Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h +0.018%

Price spread now: ApeX Omni against BloFin−0.078%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$730.734% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.175%+$17 on $10k

Price spread, last 3 days (all we have)−0.050%−$5 · spread now −0.078%, 7d avg −0.091%

Together, before fees+0.125%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.091%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSFT-USDT	502.16	−0.0028	get 0.0028% / 8h	1h 16m	$188K	$210K	20x
Short	ApeX Omni MSFTUSDT	501.77	0.0100	get 0.0013% / 1h	16m 11s	$160K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.078%Rate

Funding earned: $26.85
Price spread: −0.078% → −0.091%: $1.29
Slippage, 4 orders: −$51.41
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$45.27
Costs to cover: 0.734%
Break-even: 18.8 days

Slippage from BloFin: live order book, 59 min ago; ApeX Omni: live order book, 65 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 BloFin live order book, 59 min ago	0.80 bp	9.0 bp −$9	12.3 bp −$123	27.9 bp −$2,788	doesn't fit
Sell ApeX Omni live order book, 65 min ago	18.97 bp	31.8 bp −$32	95.1 bp −$951	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	−0.0696%	4h	502.08	−0.015%	$102K	$243K	10x	as long as short
BloFin MSFT-USDTlong	−0.0028%	8h	502.16	long leg	$188K	$210K	20x
Aster MSFTUSDT	0.0000%	8h	502.12	−0.007%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.98	−0.035%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.08	−0.015%	$15.7M	$19.2M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.97	−0.038%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.88	−0.056%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.12	−0.008%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.09	−0.014%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.10	−0.011%	$19K	$312K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.78	+0.123%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.78	−0.076%	$27K	$100K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.116%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.94	−0.044%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.24	+0.016%	$2.2M	$758K	10x	as long as short
Nado MSFT-PERP	+0.0006%	1h	501.68	−0.096%	$414K	$64K	20x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.07	−0.018%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.97	−0.038%	$652K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.97	−0.038%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.95	−0.042%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.66	−0.100%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.56	−0.119%	$305K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.92	−0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.77	−0.078%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	501.85	−0.062%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.89	−0.054%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.73	−0.086%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.50	−0.131%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDTshort	+0.0100%	1h	501.77	−0.078%	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.99	−0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.05	−0.023%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	502.14	−0.004%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.89	−0.054%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.028%	$115K	$45K	30x	as long as short