Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against GRVT−0.098%7-day average −0.094% · you buy dearer than you sell

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

Long on GRVT Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.098%, 7d avg −0.094%

Together, before fees+0.151%+ Points / potential airdropGRVT: Active · Ondo Perps: Active · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.094%, so right now this pair is about funding alone: +$2 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	501.33	0	get 0.0000% / 8h	4h 43m	$19K	$302K	10x
Short	Ondo Perps MSFT-USD.P	500.84	0.0050	get 0.0006% / 1h	43m 18s	$527K	$456K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.098%Rate

Funding earned: $10.58
Price spread: −0.098% → −0.094%: −$0.42
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$3.83
Costs to cover: 0.140%
Break-even: 9.5 days

Slippage unknown: GRVT: live order book, 14 min ago; Ondo Perps: 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, 14 min ago	1.20 bp	8.3 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	−0.0040%	1h	500.97	−0.072%	$678K	$458K	10x	as long as short
Nado MSFT-PERP	−0.0036%	1h	501.10	−0.045%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0001%	8h	501.37	+0.008%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.11	−0.044%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.30	−0.005%	$341K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.47	+0.027%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.09	−0.048%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.41	+0.016%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	500.79	−0.108%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.29	−0.008%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.39	+0.012%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	−0.012%	$1.3M	$617K	—	as long as short
GRVT MSFT_USDT_Perplong	0.0000%	8h	501.33	long leg	$19K	$302K	10x
SunX MSFT-USDT	0.0000%	8h	502.23	+0.180%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.13	−0.040%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.30	−0.006%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.69	+0.072%	$2.2M	$777K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.16	−0.034%	$681K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.32	−0.002%	$1.1M	$5.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.04	−0.058%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.11	−0.044%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.04	−0.058%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.92	−0.082%	$22.1M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.01	−0.064%	$295K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.32	−0.002%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	500.84	−0.098%	$527K	$456K	15x
Paradex MSFT-USD-PERP	+0.0056%	8h	501.33	+0.001%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.93	−0.080%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.93	−0.080%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.25	−0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.29	−0.009%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	501.44	+0.022%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.34	+0.002%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0292%	4h	501.27	−0.012%	$102K	$244K	10x	as long as short