Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Variational Omni against Bybit−0.029%7-day average +0.034% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.029%, 7d avg +0.034%

Together, before fees+0.058%+ Points / potential airdropVariational Omni: Active · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.064% cheaper against Bybit than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSFTUSDT	501.79	0	get 0.0000% / 8h	2h 31m	$7.4M	$1.7M	100x
Short	Variational Omni MSFT	501.64	0	get 0.0000% / 8h	2h 31m	$1.3M	$726K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → +0.034%: −$6.36
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$17.36
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 2 min ago. 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 Bybit live order book, 1 min ago	0.30 bp	8.6 bp −$9	15.5 bp −$155	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.74 bp	doesn't fit	13.3 bp −$133	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
Nado MSFT-PERP	−0.0040%	1h	501.52	−0.053%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.71	−0.016%	$689K	$431K	10x	as long as short
BloFin MSFT-USDT	−0.0022%	8h	501.81	+0.004%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	+0.044%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.67	−0.023%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.72	−0.014%	$15.7M	$19.2M	20x	as long as short
Bybit MSFTUSDTlong	0.0000%	8h	501.79	long leg	$7.4M	$1.7M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.68	−0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.52	−0.054%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.74	−0.010%	$3.8M	$2.2M	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 MSFTshort	0.0000%	8h	501.64	−0.029%	$1.3M	$726K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	501.65	−0.027%	$18K	$329K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.50	+0.141%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.66	−0.026%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.61	−0.036%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.84	+0.010%	$2.2M	$759K	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.63	−0.032%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.53	−0.052%	$661K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.72	−0.014%	—	—	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.43	−0.072%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.30	−0.098%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.32	−0.094%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.70	−0.018%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.60	−0.038%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.25	−0.108%	$515K	$479K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.69	−0.020%	$1.2M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.59	−0.040%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.41	−0.076%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.25	−0.108%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.66	−0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.75	−0.009%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.96	+0.034%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.54	−0.050%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0930%	4h	501.68	−0.022%	$102K	$243K	10x	as long as short