Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.020%

Price spread now: Ondo Perps against Gate−0.060%7-day average −0.056% · you buy dearer than you sell

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

Long on Gate Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now −0.060%, 7d avg −0.056%

Together, before fees+0.061%+ Points / potential airdropOndo Perps: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.056%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.53	0	get 0.0000% / 8h	0m 12s	$3.1M	$1.7M	100x
Short	Ondo Perps MSFT-USD.P	501.23	0.0050	get 0.0006% / 1h	0m 12s	$529K	$493K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Gate. 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 GatebpFee Ondo PerpsbpOrdersPrice spread, now −0.060%Rate

Funding earned: $10.58
Price spread: −0.060% → −0.056%: −$0.34
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$9.75
Costs to cover: 0.200%
Break-even: 13.4 days

Slippage unknown: Gate: live order book, 3 min ago; Ondo Perps: 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 Gate live order book, 3 min ago	1.00 bp	10.2 bp −$10	33.3 bp −$333	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Nado MSFT-PERP	−0.0019%	1h	501.46	−0.014%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.046%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.78	+0.050%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.69	+0.032%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.80	+0.054%	$15.6M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.95	+0.084%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.53	long leg	$3.1M	$1.7M	100x
Bitget MSFTUSDT	0.0000%	8h	501.80	+0.054%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.66	+0.025%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.74	+0.042%	$18K	$294K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.48	+0.189%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.64	+0.022%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.38	+0.169%	$2.2M	$748K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.76	+0.046%	$188K	$209K	20x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	501.40	−0.026%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0032%	8h	501.82	+0.058%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.62	+0.018%	$621K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.57	+0.008%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.70	+0.034%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.39	−0.028%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.38	−0.030%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.70	+0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	501.23	−0.060%	$529K	$493K	15x
Paradex MSFT-USD-PERP	+0.0052%	8h	501.64	+0.021%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.37	−0.032%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.23	−0.060%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.46	−0.014%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.67	+0.028%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.66	+0.026%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0149%	1h	501.60	+0.014%	$27K	$102K	10x	as long as short
edgeX MSFTUSDC	+0.0150%	4h	501.63	+0.021%	$102K	$243K	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.85	+0.064%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	+0.156%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.67	+0.028%	$97K	$109K	10x	as long as short