Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: GRVT against Coinbase International+0.086%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 3 days (all we have)−0.067%−$7 · spread now +0.086%, 7d avg +0.118%

Together, before fees−0.032%+ Points / potential airdropGRVT: Active · farm board−$3 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: GRVT is 0.032% cheaper against Coinbase International than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	501.58	0	get 0.0000% / 1h	33m 02s	$688K	$449K	10x
Short	GRVT MSFT_USDT_Perp	502.01	0	get 0.0000% / 8h	1h 33m	$18K	$318K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Coinbase International. 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 Coinbase InternationalbpFee GRVTbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → +0.118%: −$3.23
Slippage, 4 orders: −$11.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$33.66
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 50 min ago; GRVT: live order book, 49 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 Coinbase International live order book, 50 min ago	2.89 bp	8.9 bp −$9	11.9 bp −$119	doesn't fit	doesn't fit
Sell GRVT live order book, 49 min ago	1.39 bp	7.5 bp −$8	14.2 bp −$142	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	−0.0036%	4h	501.87	+0.058%	$102K	$243K	10x	as long as short
BloFin MSFT-USDT	−0.0011%	8h	502.05	+0.094%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.06	+0.096%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.94	+0.072%	$337K	$407K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.03	+0.090%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	+0.076%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.79	+0.042%	$3.1M	$1.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.99	+0.082%	$1.3M	$708K	—	as long as short
GRVT MSFT_USDT_Perpshort	0.0000%	8h	502.01	+0.086%	$18K	$318K	10x
SunX MSFT-USDT	0.0000%	8h	502.80	+0.243%	$6K	$4.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.69	+0.022%	$27K	$104K	10x	as long as short
Coinbase International MSFT-PERP-INTXlong	0.0000%	1h	501.58	long leg	$688K	$449K	10x
HTX MSFT-USDT	0.0000%	8h	501.87	+0.058%	$59K	$229K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.11	+0.106%	$2.2M	$763K	10x	as long as short
Bitget MSFTUSDT	+0.0006%	8h	502.03	+0.090%	$3.8M	$2.2M	100x	as long as short
Bybit MSFTUSDT	+0.0024%	8h	501.98	+0.080%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.88	+0.060%	$654K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.97	+0.078%	$1.2M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.80	+0.044%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.61	+0.006%	$22.3M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.56	−0.004%	$305K	$681K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.94	+0.072%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.60	+0.004%	$529K	$493K	15x	as long as short
Nado MSFT-PERP	+0.0051%	1h	501.56	−0.005%	$414K	$64K	20x	as long as short
Paradex MSFT-USD-PERP	+0.0063%	8h	501.77	+0.038%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.69	+0.022%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.45	−0.026%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.71	+0.026%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.91	+0.066%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.96	+0.076%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0120%	1h	501.60	+0.004%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0176%	1h	502.03	+0.090%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.91	+0.066%	$96K	$108K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.34	+0.152%	$115K	$45K	30x	as long as short