Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against GRVT−0.073%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on GRVT Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.073%, 7d avg −0.078%

Together, before fees+0.207%+ Points / potential airdropGRVT: Active · farm board+$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.078%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSFT_USDT_Perp	504.01	0	get 0.0000% / 8h	1h 32m	$19K	$328K	10x
Short	ApeX Omni MSFTUSDT	503.64	0.0100	get 0.0013% / 1h	32m 13s	$160K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against GRVT. 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 GRVTbpFee ApeX OmnibpOrdersPrice spread, now −0.073%Rate

Funding earned: $21
Price spread: −0.073% → −0.078%: $0.45
Slippage, 4 orders: −$18.8
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$16.36
Costs to cover: 0.378%
Break-even: 12.5 days

Slippage from GRVT: live order book, 10 min ago; ApeX Omni: live order book, 9 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 GRVT live order book, 10 min ago	1.39 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 9 min ago	5.07 bp	10.1 bp −$10	64.8 bp −$648	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	−0.0088%	4h	503.94	−0.013%	$103K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.069%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.77	−0.048%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.87	−0.028%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.03	+0.004%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.73	−0.055%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.96	−0.010%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.83	−0.035%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.97	−0.008%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.01	0.000%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perplong	0.0000%	8h	504.01	long leg	$19K	$328K	10x
SunX MSFT-USDT	0.0000%	8h	504.78	+0.153%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.76	−0.049%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.83	−0.035%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.90	−0.022%	$2.2M	$821K	10x	as long as short
Nado MSFT-PERP	+0.0012%	1h	503.72	−0.057%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	+0.0023%	8h	504.00	−0.002%	$191K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.81	−0.039%	$701K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.92	−0.018%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.71	−0.059%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.88	−0.026%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	503.54	−0.093%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.53	−0.095%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.68	−0.065%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.83	−0.035%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.54	−0.093%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	503.85	−0.031%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.69	−0.063%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.44	−0.113%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDTshort	+0.0100%	1h	503.64	−0.073%	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.88	−0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.92	−0.017%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	504.08	+0.014%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.040%	$115K	$45K	30x	as long as short