Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.029%

Price spread now: OKX against Ondo Perps+0.040%7-day average +0.089% · you sell dearer than you buy

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

Long on Ondo Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.105%+$10 · spread now +0.040%, 7d avg +0.089%

Together, before fees+0.004%+ Points / potential airdropOndo Perps: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.050% cheaper against Ondo Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.089%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MSFT-USD.P	501.77	0.0050	pay 0.0006% / 1h	16m 09s	$529K	$493K	15x
Short	OKX MSFT-USDT-SWAP	501.97	0	get 0.0000% / 8h	1h 16m	$3.0M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$10.58
Price spread: +0.040% → +0.089%: −$4.95
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.54
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; OKX: 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 OKX live order book, 1 min ago	0.10 bp	9.8 bp −$10	17.3 bp −$173	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
edgeX MSFTUSDC	−0.0696%	4h	502.08	+0.063%	$102K	$243K	10x	as long as short
BloFin MSFT-USDT	−0.0028%	8h	502.16	+0.078%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.12	+0.071%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.98	+0.042%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.08	+0.062%	$15.7M	$19.2M	20x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	501.97	+0.040%	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.88	+0.022%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.12	+0.070%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.09	+0.063%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.10	+0.066%	$19K	$312K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.78	+0.201%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.78	+0.002%	$27K	$100K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.038%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.94	+0.034%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.24	+0.094%	$2.2M	$758K	10x	as long as short
Nado MSFT-PERP	+0.0006%	1h	501.68	−0.019%	$414K	$64K	20x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.07	+0.060%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.97	+0.040%	$652K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.97	+0.040%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.95	+0.036%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.66	−0.022%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.56	−0.042%	$305K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.92	+0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Plong	+0.0050%	1h	501.77	long leg	$529K	$493K	15x
Paradex MSFT-USD-PERP	+0.0059%	8h	501.85	+0.016%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.89	+0.024%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.73	−0.008%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.50	−0.054%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.77	0.000%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.99	+0.044%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.05	+0.055%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	502.14	+0.074%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.89	+0.024%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.106%	$115K	$45K	30x	as long as short