Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SoDEX against Orderly+0.004%7-day average — · you sell dearer than you buy

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

Long on Orderly 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

The price spread sits at zero (this spread has no 7-day history yet), 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	Orderly PERP_MSFT_USDC_mythos	501.77	0.0100	pay 0.0100% / 8h	2h 04m	$8K	—	10x
Short	SoDEX MSFT-USD	501.79	0.0050	get 0.0006% / 1h	4m 39s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Orderly. 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 OrderlybpFee SoDEXbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$10.5
Price spread: +0.004% → 0.000%: $0.4
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$24.1
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Orderly and 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 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
Hotstuff MSFT-PERP	−0.0072%	1h	501.37	−0.080%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.47	−0.060%	$690K	$433K	10x	as long as short
BloFin MSFT-USDT	−0.0021%	8h	501.86	+0.018%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.99	+0.043%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.86	+0.019%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.92	+0.030%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.90	+0.026%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	+0.002%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.67	−0.020%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.84	+0.014%	$3.8M	$2.2M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.88	+0.021%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.71	−0.012%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.64	+0.173%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.51	−0.052%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.82	+0.010%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.98	+0.042%	$2.2M	$768K	10x	as long as short
Nado MSFT-PERP	+0.0002%	1h	501.39	−0.076%	$414K	$64K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.80	+0.006%	$1.1M	$654K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.67	−0.020%	$652K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.60	−0.034%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.40	−0.074%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.39	−0.076%	$309K	$683K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	501.79	+0.004%	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.43	−0.068%	$521K	$494K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.83	+0.012%	$1.1M	$5.7M	10x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.68	−0.019%	$221	—	5x	as long as short
Phoenix MSFT	+0.0096%	1h	501.60	−0.034%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.20	−0.114%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.23	−0.108%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythoslong	+0.0100%	8h	501.77	long leg	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	501.81	+0.008%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	+0.261%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.69	−0.016%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0657%	4h	501.84	+0.014%	$102K	$243K	10x	as long as short