Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h +0.002%

Price spread now: SoDEX against BloFin−0.060%476s7-day average — · you buy dearer than you sell

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

Long on BloFin 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 0.060% cheaper against BloFin than usual: you would sell low and buy high (spread −0.060% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.6 days of funding at the current rate (+$2 a day). The two prices were read 476 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSFT-USDT	501.33	−0.0028	get 0.0028% / 8h	6h 41m	$189K	$204K	20x
Short	SoDEX MSFT-USD	501.03	0.0050	get 0.0006% / 1h	41m 09s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.060%Rate

Funding earned: $16.29
Price spread: −0.060% → 0.000%: −$5.98
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$9.69
Costs to cover: 0.200%
Break-even: 11.2 days

Slippage unknown: BloFin: live order book, 19 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 BloFin live order book, 19 min ago	1.20 bp	8.8 bp −$9	13.9 bp −$139	doesn't fit	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
BloFin MSFT-USDTlong	−0.0028%	8h	501.33	long leg	$189K	$204K	20x
Nado MSFT-PERP	−0.0017%	1h	500.87	−0.091%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.76	−0.114%	$684K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.31	−0.003%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.06	−0.054%	$342K	$894K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.19	−0.027%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.04	−0.058%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.34	+0.002%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	500.84	−0.098%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.38	+0.010%	$4.3M	$2.4M	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	501.10	−0.046%	$1.3M	$677K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.20	−0.025%	$19K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.93	+0.120%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.52	+0.038%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.43	+0.020%	$2.2M	$757K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.99	−0.068%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.18	−0.030%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.03	−0.060%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.09	−0.048%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.92	−0.082%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.86	−0.094%	$303K	$672K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	501.03	−0.060%	$60K	$3K	10x
Paradex MSFT-USD-PERP	+0.0050%	8h	501.08	−0.050%	$220	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.73	−0.120%	$513K	$503K	15x	as long as short
Phoenix MSFT	+0.0080%	1h	501.10	−0.046%	$10K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	500.97	−0.072%	$27K	$41K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.83	−0.100%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.67	−0.132%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.09	−0.048%	$8K	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0104%	1h	500.88	−0.090%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.05	−0.056%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.24	−0.018%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.56	+0.046%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0251%	4h	501.21	−0.023%	$102K	$241K	10x	as long as short