Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0697%/8h= +76.3% APRpaid last 24h +0.005%

Price spread now: edgeX against GRVT−0.020%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on GRVT Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.020%, 7d avg −0.005%

Together, before fees+0.104%+ Points / potential airdropGRVT: Active · edgeX: Active · farm board+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: +$21 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSFT_USDT_Perp	501.88	0	get 0.0000% / 8h	5h 35m	$19K	$297K	10x
Short	edgeX MSFTUSDC	501.78	0.0697	get 0.0349% / 4h	1h 35m	$102K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $146.41
Price spread: −0.020% → −0.005%: −$1.57
Slippage, 4 orders: −$20.31
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $106.52
Costs to cover: 0.383%
Break-even: 1.9 days

Slippage from GRVT: live order book, 27 min ago; edgeX: live order book, 27 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, 27 min ago	1.20 bp	8.9 bp −$9	12.8 bp −$128	doesn't fit	doesn't fit
Sell edgeX live order book, 27 min ago	5.68 bp	10.3 bp −$10	12.6 bp −$126	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.128%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0037%	1h	501.44	−0.088%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	501.30	−0.116%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.67	−0.041%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.67	−0.041%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.78	−0.020%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.71	−0.034%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	+0.016%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.69	−0.038%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.80	−0.016%	$4.5M	$2.5M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.82	−0.013%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perplong	0.0000%	8h	501.88	long leg	$19K	$297K	10x
SunX MSFT-USDT	0.0000%	8h	502.56	+0.135%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.77	−0.022%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.91	+0.006%	$2.2M	$769K	10x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	501.85	−0.006%	$189K	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.65	−0.046%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.61	−0.054%	$683K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.65	−0.046%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.65	−0.046%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	501.50	−0.076%	$27K	$41K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.31	−0.114%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.40	−0.096%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.82	−0.012%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.40	−0.096%	$525K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	501.66	−0.044%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.58	−0.060%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.54	−0.068%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.40	−0.096%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.69	−0.038%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.65	−0.046%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.88	0.000%	$1.1M	$458K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.271%	$115K	$45K	30x	as long as short
edgeX MSFTUSDCshort	+0.0697%	4h	501.78	−0.020%	$102K	$243K	10x