Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0374%/8h= +41.0% APRpaid last 24h +0.054%

Price spread now: edgeX against Deribit+0.028%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$330.334% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.056%+$6 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.028%, 7d avg +0.034%

Together, before fees+0.026%+ Points / potential airdropedgeX: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.056% in total (about 4.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSFT_USDC-PERPETUAL	501.72	0	get 0.0000% / 1h	56m 32s	$27K	$71K	10x
Short	edgeX MSFTUSDC	501.86	0.0374	get 0.0187% / 4h	3h 56m	$102K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now +0.028%Rate

Funding earned: $78.6
Price spread: +0.028% → +0.034%: −$0.62
Slippage, 4 orders: −$17.4
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $44.59
Costs to cover: 0.334%
Break-even: 3.0 days

Slippage from Deribit: live order book, 17 min ago; edgeX: live order book, 16 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 Deribit live order book, 17 min ago	0.10 bp	3.6 bp −$4	7.0 bp −$70	doesn't fit	doesn't fit
Sell edgeX live order book, 16 min ago	5.18 bp	9.9 bp −$10	12.1 bp −$121	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
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.76	+0.008%	$687K	$448K	10x	as long as short
BloFin MSFT-USDT	−0.0002%	8h	501.85	+0.026%	$188K	$207K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.05	+0.066%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.01	+0.059%	$337K	$378K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.03	+0.062%	$15.7M	$18.8M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.93	+0.042%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.62	−0.020%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.96	+0.048%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.66	−0.013%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.74	+0.004%	$18K	$294K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.65	+0.185%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUALlong	0.0000%	1h	501.72	long leg	$27K	$71K	10x
HTX MSFT-USDT	0.0000%	8h	501.67	−0.010%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.00	+0.056%	$2.2M	$750K	10x	as long as short
Nado MSFT-PERP	+0.0025%	1h	501.97	+0.049%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.53	−0.038%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	502.03	+0.062%	$1.2M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.90	+0.036%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.58	−0.028%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.58	−0.028%	$303K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.80	+0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.66	−0.012%	$529K	$492K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.06	+0.068%	$221	—	5x	as long as short
Lighter MSFT	+0.0064%	1h	501.76	+0.008%	$1.1M	$486K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.72	0.000%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.56	−0.032%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.37	−0.070%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.76	+0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.74	+0.004%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0128%	1h	501.56	−0.032%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.77	+0.010%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.20	+0.096%	$115K	$45K	30x	as long as short
Bybit MSFTUSDT	+0.0272%	8h	502.21	+0.098%	$7.4M	$1.7M	100x	as long as short
edgeX MSFTUSDCshort	+0.0374%	4h	501.86	+0.028%	$102K	$242K	10x