Funding arb · Price arb /

MSFT

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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 +0.011%

Price spread now: Binance against OKX+0.018%7-day average +0.004% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on OKX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 7 days−0.045%−$4 · spread now +0.018%, 7d avg +0.004%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	503.93	0	get 0.0000% / 8h	1h 33m	$3.0M	$2.4M	20x
Short	Binance MSFTUSDT	504.02	0	get 0.0000% / 8h	1h 33m	$15.8M	$19.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against OKX. 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 OKXbpFee BinancebpOrdersPrice spread, now +0.018%Rate

Funding earned: $0
Price spread: +0.018% → +0.004%: $1.38
Slippage, 4 orders: −$10.77
Fee OKX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$29.39
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Binance: 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 OKX live order book, 3 min ago	1.49 bp	8.5 bp −$9	16.0 bp −$160	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.10 bp	6.6 bp −$7	10.9 bp −$109	49.6 bp −$4,964	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	−0.0088%	4h	503.94	+0.002%	$103K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.054%	$682K	$500K	10x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	503.54	−0.077%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.78	−0.030%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.90	−0.006%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	504.02	+0.018%	$15.8M	$19.6M	20x
Bybit MSFTUSDT	0.0000%	8h	503.79	−0.028%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	503.93	long leg	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	503.80	−0.026%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.97	+0.008%	$3.8M	$3.0M	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	504.01	+0.015%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.01	+0.016%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.75	+0.163%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.75	−0.036%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.90	−0.006%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.14	+0.042%	$2.2M	$821K	10x	as long as short
BloFin MSFT-USDT	+0.0012%	8h	504.10	+0.034%	$190K	$206K	20x	as long as short
Nado MSFT-PERP	+0.0013%	1h	503.70	−0.046%	$415K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.81	−0.024%	$689K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.91	−0.004%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.71	−0.044%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.88	−0.010%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.54	−0.077%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.69	−0.048%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.83	−0.020%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.54	−0.077%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	503.86	−0.015%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.80	−0.026%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.45	−0.095%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.64	−0.058%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.87	−0.012%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.93	0.000%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	504.07	+0.028%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.056%	$115K	$45K	30x	as long as short