Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Deribit against GRVT+0.040%7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.040% dearer against GRVT than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSFT_USDT_Perp	503.46	0	get 0.0000% / 8h	7h 56m	$19K	$318K	10x
Short	Deribit MSFT_USDC-PERPETUAL	503.66	0	get 0.0000% / 1h	56m 59s	$27K	$44K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → 0.000%: $3.99
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$12.01
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 41 min ago; Deribit: 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 GRVT live order book, 41 min ago	1.19 bp	7.9 bp −$8	1026.5 bp −$10.3K	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.34	−0.024%	$690K	$480K	10x	as long as short
Nado MSFT-PERP	−0.0052%	1h	503.46	+0.001%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.84	+0.075%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.75	+0.058%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.83	+0.073%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.54	+0.016%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.90	+0.088%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.60	+0.028%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.81	+0.070%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	+0.030%	$1.3M	$400K	—	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	503.46	long leg	$19K	$318K	10x
SunX MSFT-USDT	0.0000%	8h	504.63	+0.233%	$6K	$3.7M	20x	as long as short
Deribit MSFT_USDC-PERPETUALshort	0.0000%	1h	503.66	+0.040%	$27K	$44K	10x
HTX MSFT-USDT	0.0000%	8h	503.76	+0.060%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.23	+0.153%	$2.2M	$820K	10x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.63	+0.034%	$1.1M	$4.6M	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	503.09	−0.073%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	503.89	+0.086%	$192K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.65	+0.038%	$1.2M	$509K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.58	+0.024%	$705K	$1.8M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.59	+0.026%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.72	+0.052%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.26	−0.040%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.45	−0.002%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.61	+0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.36	−0.020%	$513K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.56	+0.020%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.05	−0.081%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.28	−0.036%	$1.6M	$86K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.95	−0.101%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.77	+0.062%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.83	+0.073%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	+0.082%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0947%	4h	503.54	+0.017%	$102K	$244K	10x	as long as short