Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against GRVT+0.161%7-day average +0.159% · you sell dearer than you buy

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$233as in the Price arb table

costs, in and out, $10k−$2342.337% of the position

Long on GRVT Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now +0.161%, 7d avg +0.159%

Together, before fees+0.171%+ Points / potential airdropGRVT: Active · farm board+$17 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	501.87	0	get 0.0000% / 8h	5h 31m	$18K	$297K	10x
Short	SunX MSFT-USDT	502.68	0	get 0.0000% / 8h	5h 31m	$6K	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.161%Rate

Funding earned: $0
Price spread: +0.161% → +0.159%: $0.28
Slippage, 4 orders: −$216.72
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$233.44
Costs to cover: 2.337%
Break-even: never at this rate

Slippage from GRVT: live order book, 31 min ago; SunX: live order book, 7 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, 31 min ago	1.20 bp	8.9 bp −$9	12.8 bp −$128	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	29.15 bp	104.6 bp −$105	doesn't fit	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	−0.126%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0033%	1h	501.61	−0.053%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0011%	8h	501.86	−0.002%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.83	−0.008%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.76	−0.021%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.92	+0.010%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.79	−0.016%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	+0.018%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.74	−0.026%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.82	−0.010%	$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	−0.011%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perplong	0.0000%	8h	501.87	long leg	$18K	$297K	10x
SunX MSFT-USDTshort	0.0000%	8h	502.68	+0.161%	$6K	$4.1M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.62	−0.050%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.70	−0.034%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.00	+0.026%	$2.2M	$768K	10x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	501.38	−0.098%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.72	−0.030%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.72	−0.030%	$687K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.63	−0.048%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.67	−0.040%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.39	−0.096%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.48	−0.078%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.78	−0.018%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.26	−0.122%	$525K	$486K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0061%	8h	501.76	−0.023%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.54	−0.066%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.66	−0.042%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.19	−0.135%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.73	−0.028%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.75	−0.024%	$55	—	10x	as long as short
Lighter MSFT	+0.0176%	1h	502.02	+0.030%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.273%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0990%	4h	501.81	−0.011%	$102K	$244K	10x	as long as short