Funding arb · Price arb /

MSFT

RWAall MSFT markets

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: SoDEX against OKX−0.068%56s7-day average — · you buy dearer than you sell

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

Long on OKX Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.068% cheaper against OKX than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.5 days of funding at the current rate (+$2 a day). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	501.83	0	get 0.0000% / 8h	5h 55m	$3.0M	$2.3M	20x
Short	SoDEX MSFT-USD	501.49	0.0050	get 0.0006% / 1h	55m 25s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.068%Rate

Funding earned: $10.5
Price spread: −0.068% → 0.000%: −$6.78
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$14.28
Costs to cover: 0.180%
Break-even: 16.5 days

Slippage unknown: OKX: live order book, 2 min ago; SoDEX: 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	0.90 bp	8.5 bp −$9	15.4 bp −$154	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Nado MSFT-PERP	−0.0143%	1h	501.47	−0.072%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.118%	$679K	$456K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.77	−0.013%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.51	−0.063%	$337K	$889K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.64	−0.038%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.69	−0.028%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	501.83	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.44	−0.078%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.61	−0.044%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.53	−0.060%	$1.3M	$650K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	−0.039%	$18K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.38	+0.110%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.33	−0.100%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.44	−0.078%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.78	−0.010%	$2.2M	$762K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.45	−0.076%	$1.1M	$5.7M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0031%	1h	501.26	−0.114%	$22.1M	$9.3M	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.43	−0.080%	$656K	$2.0M	20x	as long as short
Lighter MSFT	+0.0040%	1h	501.70	−0.026%	$1.1M	$454K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.42	−0.082%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.65	−0.036%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.25	−0.116%	$303K	$671K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	501.49	−0.068%	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.12	−0.141%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.55	−0.056%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	501.27	−0.112%	$32K	$8K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.34	−0.098%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.32	−0.102%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.25	−0.116%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.47	−0.072%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.51	−0.065%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.008%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0739%	4h	501.56	−0.054%	$102K	$242K	10x	as long as short