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: Gate against Ondo Perps+0.068%7-day average +0.056% · you sell dearer than you buy

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

Long on Ondo Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 4 days (all we have)+0.105%+$10 · spread now +0.068%, 7d avg +0.056%

Together, before fees+0.017%+ Points / potential airdropOndo Perps: Active · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.056%, 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	500.91	0.0050	pay 0.0006% / 1h	13m 51s	$516K	$494K	15x
Short	Gate MSFT_USDT	501.25	0	get 0.0000% / 8h	5h 13m	$3.1M	$1.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.068%Rate

Funding earned: −$10.58
Price spread: +0.068% → +0.056%: $1.14
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$29.44
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	4.89 bp	14.2 bp −$14	52.8 bp −$528	doesn't fit	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.91	0.000%	$678K	$457K	10x	as long as short
Nado MSFT-PERP	−0.0032%	1h	501.13	+0.044%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.43	+0.105%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.25	+0.067%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.36	+0.091%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.14	+0.046%	$7.2M	$2.0M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.54	+0.126%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	501.25	+0.068%	$3.1M	$1.7M	100x
Bitget MSFTUSDT	0.0000%	8h	501.45	+0.108%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.32	+0.081%	$1.3M	$650K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.34	+0.086%	$18K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.17	+0.252%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.99	+0.016%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.28	+0.074%	$58K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.80	+0.178%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	501.39	+0.096%	$190K	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.24	+0.066%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.20	+0.058%	$684K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.14	+0.046%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.37	+0.092%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.02	+0.022%	$22.1M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.03	+0.024%	$301K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.25	+0.068%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Plong	+0.0050%	1h	500.91	long leg	$516K	$494K	15x
Paradex MSFT-USD-PERP	+0.0058%	8h	501.28	+0.075%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.11	+0.040%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.22	+0.062%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.11	+0.040%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.29	+0.076%	$8K	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0104%	1h	501.05	+0.028%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.26	+0.070%	$55	—	10x	as long as short
Lighter MSFT	+0.0184%	1h	501.54	+0.126%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.73	+0.164%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0872%	4h	501.31	+0.079%	$102K	$244K	10x	as long as short