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 +0.011%

Price spread now: Binance against GRVT+0.012%49s7-day average +0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.300% of the position

Long on GRVT Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 2 days (all we have)+0.004%$0 · spread now +0.012%, 7d avg +0.002%

Together, before fees+0.030%+ Points / potential airdropGRVT: 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	GRVT MSFT_USDT_Perp	502.07	0	get 0.0000% / 8h	1h 10m	$19K	$309K	10x
Short	Binance MSFTUSDT	502.13	0	get 0.0000% / 8h	1h 10m	$15.7M	$19.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → +0.002%: $0.98
Slippage, 4 orders: −$10.96
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$28.98
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from GRVT: live order book, 7 min ago; Binance: live order book, just now.

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, 7 min ago	1.20 bp	9.2 bp −$9	18.5 bp −$185	doesn't fit	doesn't fit
Sell Binance live order book, just now	0.10 bp	7.2 bp −$7	12.1 bp −$121	48.9 bp −$4,895	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
Aster MSFTUSDT	0.0000%	8h	502.18	+0.021%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.03	−0.009%	$337K	$392K	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	502.13	+0.012%	$15.7M	$19.2M	20x
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.028%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.89	−0.036%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.14	+0.014%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.04	−0.006%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perplong	0.0000%	8h	502.07	long leg	$19K	$309K	10x
SunX MSFT-USDT	0.0000%	8h	502.88	+0.161%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.82	−0.050%	$27K	$101K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.098%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.89	−0.036%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.28	+0.042%	$2.2M	$756K	10x	as long as short
Nado MSFT-PERP	+0.0002%	1h	501.86	−0.042%	$414K	$64K	20x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.17	+0.020%	$7.4M	$1.7M	100x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	502.11	+0.008%	$188K	$210K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.01	−0.012%	$649K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.97	−0.020%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.92	−0.030%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.62	−0.090%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.64	−0.086%	$305K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.03	−0.008%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.67	−0.080%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.94	−0.026%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.79	−0.056%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.63	−0.088%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.91	−0.032%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.00	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.04	−0.006%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	501.73	−0.068%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0120%	1h	502.19	+0.024%	$1.1M	$590K	20x	as long as short
edgeX MSFTUSDC	+0.0152%	4h	502.01	−0.012%	$102K	$242K	10x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.95	−0.024%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.046%	$115K	$45K	30x	as long as short