Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0679%/8h= +74.3% APRpaid last 24h −0.049%

Price spread now: OKX against edgeX+0.072%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$370.365% of the position

Long on edgeX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.072%, 7d avg +0.001%

Together, before fees−0.170%+ Points / potential airdropedgeX: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and OKX is 0.071% dearer against edgeX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.001%. Mind the row above: over the last 7 days funding on this pair cost −0.153%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.153% in total (about -8.0% 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	501.55	−0.0679	get 0.0339% / 4h	2h 20m	$102K	$242K	10x
Short	OKX MSFT-USDT-SWAP	501.91	0	get 0.0000% / 8h	6h 20m	$3.0M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.072%Rate

Funding earned: $142.54
Price spread: +0.072% → +0.001%: $7.1
Slippage, 4 orders: −$17.52
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: $113.12
Costs to cover: 0.365%
Break-even: 1.4 days

Slippage from edgeX: live order book, 46 min ago; OKX: live order book, 1 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, 46 min ago	5.19 bp	9.8 bp −$10	12.1 bp −$121	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.10 bp	8.9 bp −$9	17.1 bp −$171	doesn't fit	doesn't fit

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
edgeX MSFTUSDClong	−0.0679%	4h	501.55	long leg	$102K	$242K	10x
Hotstuff MSFT-PERP	−0.0016%	1h	501.34	−0.042%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.22	−0.065%	$679K	$457K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.79	+0.048%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.63	+0.017%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.77	+0.044%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.68	+0.026%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	501.91	+0.072%	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.55	0.000%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.66	+0.022%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.69	+0.029%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.56	+0.002%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.53	+0.196%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.67	+0.024%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.77	+0.044%	$2.2M	$766K	10x	as long as short
Nado MSFT-PERP	+0.0008%	1h	501.59	+0.009%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.58	+0.006%	$620K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.64	+0.018%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.44	−0.022%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.62	+0.014%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	501.66	+0.022%	$27K	$41K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.33	−0.044%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.32	−0.046%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.66	+0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.29	−0.052%	$522K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.69	+0.028%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.33	−0.044%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.39	−0.032%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.061%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.69	+0.028%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.66	+0.022%	$55	—	10x	as long as short
Lighter MSFT	+0.0176%	1h	501.87	+0.064%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.046%	$115K	$45K	30x	as long as short