Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0070%/8h= +7.6% APRpaid last 24h +0.021%

Price spread now: Paradex against Coinbase International+0.069%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Paradex is 0.069% dearer against Coinbase International than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	501.24	−0.0016	get 0.0002% / 1h	2m 06s	$679K	$457K	10x
Short	Paradex MSFT-USD-PERP	501.59	0.0054	get 0.0054% / 8h	6h 02m	$221	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.069%Rate

Funding earned: $14.63
Price spread: +0.069% → 0.000%: $6.91
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $7.54
Costs to cover: 0.140%
Break-even: 3.4 days

Slippage unknown: Coinbase International: live order book, 1 min ago; Paradex: 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 Coinbase International live order book, 1 min ago	2.29 bp	7.8 bp −$8	11.2 bp −$112	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 33 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	−0.0035%	1h	501.53	+0.059%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0016%	1h	501.24	long leg	$679K	$457K	10x
Aster MSFTUSDT	0.0000%	8h	501.75	+0.102%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.57	+0.066%	$337K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.70	+0.092%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.76	+0.104%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.90	+0.132%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.56	+0.064%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.66	+0.084%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.70	+0.091%	$1.3M	$652K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	+0.078%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.43	+0.237%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.34	+0.020%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.52	+0.056%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.84	+0.120%	$2.2M	$763K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.49	+0.050%	$647K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.54	+0.060%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.49	+0.050%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.71	+0.094%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.32	+0.016%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.24	0.000%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.55	+0.062%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.32	+0.016%	$522K	$483K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0054%	8h	501.59	+0.069%	$221	—	5x
Phoenix MSFT	+0.0080%	1h	501.56	+0.064%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.37	+0.026%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.63	+0.078%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.54	+0.060%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.54	+0.060%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.76	+0.104%	$1.1M	$489K	20x	as long as short
Hotstuff MSFT-PERP	+0.0168%	1h	501.35	+0.022%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.108%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0549%	4h	501.71	+0.093%	$102K	$243K	10x	as long as short