Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.008%

Price spread now: Vest against Bybit−0.054%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Vest

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—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.054% cheaper against Bybit than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSFTUSDT	501.89	0	get 0.0000% / 8h	2h 12m	$7.4M	$1.7M	100x
Short	Vest MSFT-USD-PERP	501.62	0.0046	get 0.0006% / 1h	12m 17s	—	—	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.054%Rate

Funding earned: $9.59
Price spread: −0.054% → 0.000%: −$5.38
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Vest: 1 bp × 2 orders: −$2
Net: −$8.79
Costs to cover: 0.130%
Break-even: 13.4 days

Slippage unknown: Bybit: live order book, 6 min ago; Vest: 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 Bybit live order book, 6 min ago	1.89 bp	10.1 bp −$10	18.5 bp −$185	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
Hotstuff MSFT-PERP	−0.0040%	1h	501.37	−0.104%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.47	−0.084%	$690K	$433K	10x	as long as short
Nado MSFT-PERP	−0.0007%	1h	501.37	−0.103%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.90	+0.002%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.73	−0.032%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.83	−0.013%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDTlong	0.0000%	8h	501.89	long leg	$7.4M	$1.7M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	−0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.60	−0.058%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.83	−0.012%	$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 MSFT	0.0000%	8h	501.80	−0.017%	$1.3M	$726K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.70	−0.037%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.60	+0.141%	$6K	$4.4M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.65	−0.048%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.95	+0.012%	$2.2M	$766K	10x	as long as short
BloFin MSFT-USDT	+0.0004%	8h	501.84	−0.010%	$189K	$210K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.69	−0.040%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.61	−0.056%	$652K	$2.2M	20x	as long as short
Vest MSFT-USD-PERPshort	+0.0046%	1h	501.62	−0.054%	—	—	25x
tradeXYZ xyz:MSFT	+0.0050%	1h	501.39	−0.100%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.33	−0.112%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.73	−0.032%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.70	−0.039%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.27	−0.124%	$521K	$485K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.69	−0.040%	$1.2M	$5.7M	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	501.66	−0.046%	$27K	$104K	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.61	−0.056%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.20	−0.137%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.40	−0.098%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.69	−0.040%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.76	−0.026%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.89	0.000%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.61	−0.056%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0559%	4h	501.81	−0.017%	$102K	$244K	10x	as long as short