Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.029%

Price spread now: Bitget against Ondo Perps+0.098%7-day average +0.098% · you sell dearer than you buy

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

Long on Ondo Perps Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now +0.098%, 7d avg +0.098%

Together, before fees−0.054%+ Points / potential airdropOndo Perps: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.098%, 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	Ondo Perps MSFT-USD.P	501.25	0.0050	pay 0.0006% / 1h	32m 05s	$515K	$479K	15x
Short	Bitget MSFTUSDT	501.74	0	get 0.0000% / 8h	2h 32m	$3.8M	$2.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Ondo Perps. 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 Ondo PerpsbpFee BitgetbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$10.58
Price spread: +0.098% → +0.098%: $0.02
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$27.56
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Bitget: live order book, 1 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Bitget live order book, 1 min ago	1.89 bp	11.0 bp −$11	13.7 bp −$137	40.3 bp −$4,031	doesn't fit

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
Nado MSFT-PERP	−0.0040%	1h	501.52	+0.055%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.71	+0.092%	$689K	$431K	10x	as long as short
BloFin MSFT-USDT	−0.0022%	8h	501.81	+0.112%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	+0.152%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.69	+0.087%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.73	+0.096%	$15.7M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.79	+0.108%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.68	+0.086%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.59	+0.068%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	501.74	+0.098%	$3.8M	$2.2M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.64	+0.078%	$1.3M	$726K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.65	+0.081%	$18K	$329K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.50	+0.249%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.66	+0.082%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.61	+0.072%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.84	+0.118%	$2.2M	$759K	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.70	+0.090%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.60	+0.070%	$662K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.72	+0.094%	—	—	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.43	+0.036%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.40	+0.030%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.32	+0.014%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.70	+0.090%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.71	+0.091%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.Plong	+0.0050%	1h	501.25	long leg	$515K	$479K	15x
QFEX MSFT-USD	+0.0050%	1h	501.69	+0.088%	$1.2M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.59	+0.068%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.47	+0.044%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.25	0.000%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.66	+0.082%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.75	+0.099%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.96	+0.142%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.59	+0.068%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0930%	4h	501.68	+0.086%	$102K	$243K	10x	as long as short