Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against OKX−0.092%7-day average −0.091% · you buy dearer than you sell

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

Long on OKX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now −0.092%, 7d avg −0.091%

Together, before fees+0.081%+ Points / potential airdropOndo Perps: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.091%, 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	OKX MSFT-USDT-SWAP	501.67	0	get 0.0000% / 8h	5h 59m	$3.0M	$2.3M	20x
Short	Ondo Perps MSFT-USD.P	501.21	0.0050	get 0.0006% / 1h	59m 41s	$522K	$483K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.092%Rate

Funding earned: $10.58
Price spread: −0.092% → −0.091%: −$0.11
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$4.52
Costs to cover: 0.150%
Break-even: 10.0 days

Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago	1.59 bp	9.6 bp −$10	15.6 bp −$156	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 33 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
Deribit MSFT_USDC-PERPETUAL	−0.0129%	1h	501.25	−0.084%	$27K	$41K	10x	as long as short
Nado MSFT-PERP	−0.0039%	1h	501.51	−0.033%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.24	−0.086%	$679K	$457K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.73	+0.012%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.44	−0.045%	$337K	$889K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.54	−0.026%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.58	−0.018%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	501.67	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.35	−0.064%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.61	−0.012%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.60	−0.015%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.58	−0.018%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.31	+0.128%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.41	−0.052%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.68	+0.002%	$2.2M	$763K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0003%	1h	501.17	−0.100%	$22.1M	$9.3M	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.40	−0.054%	$651K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.41	−0.052%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.42	−0.050%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.55	−0.024%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.22	−0.090%	$32K	$8K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.20	−0.094%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.41	−0.052%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	501.21	−0.092%	$522K	$483K	15x
Paradex MSFT-USD-PERP	+0.0053%	8h	501.51	−0.032%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.41	−0.052%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.33	−0.068%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.46	−0.042%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.48	−0.038%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.42	−0.049%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.65	−0.004%	$1.1M	$454K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.040%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0361%	4h	501.62	−0.009%	$102K	$243K	10x	as long as short