Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Extended+0.017%7-day average +0.023% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.161%+$16 · spread now +0.017%, 7d avg +0.023%

Together, before fees+0.155%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$15 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	501.81	0	get 0.0000% / 1h	40m 50s	$338K	$891K	17x
Short	Variational Omni MSFT	501.90	0	get 0.0000% / 8h	5h 40m	$1.3M	$650K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → +0.023%: −$0.58
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$5.58
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 22 min ago; Variational Omni: RFQ quote, 3 min ago. 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 Extended live order book, 22 min ago	0.10 bp	5.4 bp −$5	33.5 bp −$335	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.53 bp	doesn't fit	17.3 bp −$173	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
Nado MSFT-PERP	−0.0064%	1h	501.60	−0.042%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.113%	$679K	$456K	10x	as long as short
Hotstuff MSFT-PERP	−0.0024%	1h	501.46	−0.070%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	−0.0001%	8h	501.97	+0.032%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.81	+0.001%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.81	long leg	$338K	$891K	17x
Binance MSFTUSDT	0.0000%	8h	501.95	+0.028%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.82	+0.002%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.04	+0.046%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.75	−0.012%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.92	+0.022%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	501.90	+0.017%	$1.3M	$650K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	502.03	+0.043%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.75	+0.187%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.83	+0.004%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.99	+0.036%	$2.2M	$770K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.81	0.000%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.68	−0.026%	$677K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.68	−0.026%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.73	−0.016%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.44	−0.074%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.54	−0.054%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.87	+0.012%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.57	−0.048%	$524K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0060%	8h	501.82	+0.001%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.77	−0.008%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.66	−0.030%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.57	−0.048%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.88	+0.014%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.97	+0.032%	$1.1M	$458K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.90	+0.018%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0149%	1h	501.72	−0.018%	$27K	$41K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.81	0.000%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0854%	4h	501.96	+0.031%	$102K	$242K	10x	as long as short