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 +0.012%

Price spread now: BloFin against GRVT+0.006%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on GRVT Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+0.051%+$5 · spread now +0.006%, 7d avg +0.013%

Together, before fees+0.084%+ Points / potential airdropGRVT: Active · farm board+$8 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	502.01	0	get 0.0000% / 8h	1h 29m	$18K	$318K	10x
Short	BloFin MSFT-USDT	502.04	0.0000	get 0.0000% / 8h	1h 29m	$188K	$209K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0.05
Price spread: +0.006% → +0.013%: −$0.69
Slippage, 4 orders: −$10.09
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$31.73
Costs to cover: 0.311%
Break-even: 4779.3 days

Slippage from GRVT: live order book, 53 min ago; BloFin: live order book, 45 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, 53 min ago	1.39 bp	5.9 bp −$6	16.6 bp −$166	doesn't fit	doesn't fit
Sell BloFin live order book, 45 min ago	0.80 bp	8.6 bp −$9	11.6 bp −$116	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	−0.0817%	4h	501.97	−0.008%	$102K	$243K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.04	+0.005%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.00	−0.002%	$337K	$407K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.09	+0.017%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.18	+0.034%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.78	−0.046%	$3.1M	$1.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.98	−0.006%	$1.3M	$708K	—	as long as short
GRVT MSFT_USDT_Perplong	0.0000%	8h	502.01	long leg	$18K	$318K	10x
SunX MSFT-USDT	0.0000%	8h	502.86	+0.169%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.76	−0.050%	$27K	$104K	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	−0.086%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.93	−0.016%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.18	+0.034%	$2.2M	$763K	10x	as long as short
BloFin MSFT-USDTshort	0.0000%	8h	502.04	+0.006%	$188K	$209K	20x
Bitget MSFTUSDT	+0.0006%	8h	502.07	+0.012%	$3.8M	$2.2M	100x	as long as short
Bybit MSFTUSDT	+0.0021%	8h	502.03	+0.004%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.92	−0.018%	$653K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.97	−0.008%	$1.1M	$5.8M	10x	as long as short
Nado MSFT-PERP	+0.0043%	1h	501.69	−0.063%	$414K	$64K	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.75	−0.052%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.59	−0.084%	$22.3M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.58	−0.086%	$305K	$680K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.99	−0.004%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.62	−0.078%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	501.87	−0.027%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.61	−0.080%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	501.62	−0.078%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.57	−0.088%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.79	−0.044%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.91	−0.020%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.96	−0.011%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	502.10	+0.018%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.94	−0.014%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.17	+0.032%	$115K	$45K	30x	as long as short