Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: OKX against Extended+0.040%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.040%, 7d avg +0.020%

Together, before fees+0.031%+ Points / potential airdropExtended: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	504.27	0	get 0.0000% / 1h	12m 18s	$338K	$1.2M	17x
Short	OKX MSFT-USDT-SWAP	504.47	0	get 0.0000% / 8h	2h 12m	$3.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Extended. 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 ExtendedbpFee OKXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.020%: $2
Slippage, 4 orders: −$13.86
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$26.86
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; OKX: live order book, 5 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 Extended live order book, 1 min ago	0.20 bp	5.5 bp −$6	26.8 bp −$268	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.30 bp	7.4 bp −$7	14.2 bp −$142	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
Hotstuff MSFT-PERP	−0.0096%	1h	503.91	−0.071%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.76	−0.100%	$684K	$493K	10x	as long as short
Nado MSFT-PERP	−0.0023%	1h	504.09	−0.036%	$415K	$68K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.07	−0.039%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	504.27	long leg	$338K	$1.2M	17x
Binance MSFTUSDT	0.0000%	8h	504.47	+0.041%	$15.9M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.20	−0.013%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	504.47	+0.040%	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	504.26	−0.001%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.39	+0.025%	$3.8M	$3.0M	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	504.27	+0.001%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.36	+0.018%	$18K	$323K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.12	+0.169%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.21	−0.011%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.70	+0.086%	$2.2M	$812K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.07	−0.039%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0030%	8h	504.34	+0.015%	$189K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.19	−0.015%	$691K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.30	+0.007%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.07	−0.039%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.30	+0.007%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.00	−0.053%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.07	−0.039%	$304K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.20	−0.013%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.75	−0.102%	$518K	$471K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	504.28	+0.003%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.41	+0.028%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.72	−0.108%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.96	−0.061%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.25	−0.003%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.33	+0.013%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0167%	1h	504.16	−0.021%	$27K	$43K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.42	+0.030%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0633%	4h	504.28	+0.003%	$103K	$244K	10x	as long as short