Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0697%/8h= −76.3% APRpaid last 24h −0.005%

Price spread now: GRVT against edgeX+0.020%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on edgeX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.020%, 7d avg +0.005%

Together, before fees−0.104%+ Points / potential airdropedgeX: Active · GRVT: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.005%, so right now this pair is about funding alone: −$21 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.091% in total (about -4.7% 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	edgeX MSFTUSDC	501.78	0.0697	pay 0.0349% / 4h	1h 35m	$102K	$243K	10x
Short	GRVT MSFT_USDT_Perp	501.88	0	get 0.0000% / 8h	5h 35m	$19K	$297K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against edgeX. 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 edgeXbpFee GRVTbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$146.41
Price spread: +0.020% → +0.005%: $1.57
Slippage, 4 orders: −$20.31
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$183.15
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from edgeX: live order book, 27 min ago; GRVT: live order book, 27 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 edgeX live order book, 27 min ago	5.68 bp	10.3 bp −$10	12.8 bp −$128	doesn't fit	doesn't fit
Sell GRVT live order book, 27 min ago	1.20 bp	8.8 bp −$9	16.7 bp −$167	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	−0.0064%	1h	501.24	−0.107%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0037%	1h	501.44	−0.068%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	501.30	−0.095%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.69	−0.018%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.64	−0.027%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.78	0.000%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.71	−0.013%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	+0.036%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.71	−0.013%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.76	−0.003%	$4.5M	$2.5M	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	501.82	+0.008%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perpshort	0.0000%	8h	501.88	+0.020%	$19K	$297K	10x
SunX MSFT-USDT	0.0000%	8h	502.56	+0.156%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.59	−0.037%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.96	+0.036%	$2.2M	$769K	10x	as long as short
BloFin MSFT-USDT	+0.0021%	8h	501.90	+0.024%	$189K	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.65	−0.025%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.56	−0.043%	$683K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.65	−0.025%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.65	−0.025%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	501.50	−0.055%	$27K	$41K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.37	−0.081%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.40	−0.075%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.65	−0.025%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.40	−0.075%	$525K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	501.66	−0.023%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.58	−0.039%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.54	−0.047%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.40	−0.075%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.69	−0.017%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.65	−0.025%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.89	+0.022%	$1.1M	$458K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.291%	$115K	$45K	30x	as long as short
edgeX MSFTUSDClong	+0.0697%	4h	501.78	long leg	$102K	$243K	10x