Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Variational Omni against Gate+0.069%7-day average +0.019% · you sell dearer than you buy

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

Long on Gate 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 7 days−0.087%−$9 · spread now +0.069%, 7d avg +0.019%

Together, before fees−0.080%+ Points / potential airdropVariational Omni: Active · farm board−$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.050% dearer against Gate than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.31	0	get 0.0000% / 8h	2h 47m	$3.1M	$1.5M	100x
Short	Variational Omni MSFT	501.66	0	get 0.0000% / 8h	2h 47m	$1.3M	$709K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → +0.019%: $5.01
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.99
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Variational Omni: RFQ quote, 1 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 Gate live order book, 5 min ago	4.19 bp	14.6 bp −$15	31.6 bp −$316	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.52 bp	doesn't fit	13.0 bp −$130	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
edgeX MSFTUSDC	−0.0151%	4h	501.61	+0.060%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.71	+0.080%	$689K	$431K	10x	as long as short
Nado MSFT-PERP	−0.0034%	1h	501.36	+0.010%	$415K	$62K	20x	as long as short
BloFin MSFT-USDT	−0.0025%	8h	501.61	+0.060%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.12	+0.162%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.57	+0.051%	$371K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.61	+0.060%	$15.7M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.68	+0.074%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.59	+0.056%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.31	long leg	$3.1M	$1.5M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFTshort	0.0000%	8h	501.66	+0.069%	$1.3M	$709K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	501.68	+0.074%	$18K	$331K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.30	+0.197%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.52	+0.042%	$27K	$108K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.45	+0.028%	$59K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.83	+0.104%	$2.2M	$756K	10x	as long as short
Bitget MSFTUSDT	+0.0007%	8h	501.64	+0.066%	$3.8M	$2.2M	100x	as long as short
Lighter MSFT	+0.0032%	1h	501.64	+0.066%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.49	+0.036%	$658K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.57	+0.052%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.29	−0.004%	$22.2M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.20	−0.022%	$304K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.50	+0.038%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.60	+0.058%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.13	−0.036%	$515K	$479K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.61	+0.060%	$1.2M	$5.7M	10x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	501.27	−0.008%	$32K	$8K	20x	as long as short
Phoenix MSFT	+0.0096%	1h	501.35	+0.008%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.55	+0.048%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.50	+0.038%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.58	+0.054%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.53	+0.044%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.80	+0.098%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.60	+0.058%	$109K	$78K	10x	as long as short