Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.096%

Price spread now: Orderly against edgeX+0.141%71s7-day average — · you sell dearer than you buy

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

Long on edgeX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Orderly is 0.141% dearer against edgeX than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	503.74	0.0050	pay 0.0025% / 4h	3h 53m	$102K	$242K	10x
Short	Orderly PERP_MSFT_USDC_mythos	504.45	0.0100	get 0.0100% / 8h	7h 53m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.141%Rate

Funding earned: $10.48
Price spread: +0.141% → 0.000%: $14.07
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: $9.55
Costs to cover: 0.150%
Break-even: 0.6 days

Slippage unknown: edgeX: live order book, 44 min ago; Orderly: 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 edgeX live order book, 44 min ago	5.26 bp	10.0 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	−0.0056%	1h	504.26	+0.103%	$689K	$477K	10x	as long as short
Nado MSFT-PERP	−0.0055%	1h	504.21	+0.093%	$415K	$67K	20x	as long as short
Hotstuff MSFT-PERP	−0.0040%	1h	504.24	+0.099%	$33K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.48	+0.148%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.74	+0.199%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.88	+0.226%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.63	+0.176%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.97	+0.244%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.63	+0.176%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.90	+0.230%	$3.9M	$2.9M	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	503.97	+0.046%	$1.3M	$392K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.46	−0.056%	$19K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.46	+0.341%	$6K	$3.7M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.47	+0.145%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	505.13	+0.276%	$2.2M	$823K	10x	as long as short
BloFin MSFT-USDT	+0.0017%	8h	504.30	+0.111%	$192K	$205K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.75	+0.200%	$1.2M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.72	+0.194%	$1.2M	$509K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.68	+0.186%	$706K	$1.8M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.55	+0.161%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.52	+0.155%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.38	+0.127%	$22.5M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.06	+0.063%	$304K	$704K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.39	+0.129%	$61K	$3K	10x	as long as short
edgeX MSFTUSDClong	+0.0050%	4h	503.74	long leg	$102K	$242K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.83	+0.018%	$513K	$426K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.72	+0.193%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.05	−0.137%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	504.24	+0.099%	$1.6M	$89K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.95	−0.157%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	504.45	+0.141%	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	504.43	+0.136%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0186%	1h	504.53	+0.157%	$27K	$44K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	+0.026%	$115K	$45K	30x	as long as short