Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.023%

Price spread now: Coinbase International against Paradex−0.052%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.052% cheaper against Paradex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSFT-USD-PERP	504.09	0.0052	pay 0.0052% / 8h	7h 45m	$222	—	5x
Short	Coinbase International MSFT-PERP-INTX	503.83	−0.0056	pay 0.0007% / 1h	45m 02s	$682K	$493K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Paradex. 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 ParadexbpFee Coinbase InternationalbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$22.68
Price spread: −0.052% → 0.000%: −$5.17
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$41.85
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Coinbase International: live order book, 53 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 Paradex no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 53 min ago	3.18 bp	8.7 bp −$9	10.1 bp −$101	doesn't fit	doesn't fit

Paradex: 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	−0.0960%	4h	504.46	+0.073%	$103K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0076%	1h	504.01	−0.017%	$415K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTXshort	−0.0056%	1h	503.83	−0.052%	$682K	$493K	10x
Aster MSFTUSDT	0.0000%	8h	504.26	+0.033%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.05	−0.009%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.17	+0.016%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.86	−0.046%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.39	+0.059%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.98	−0.022%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.16	+0.014%	$3.9M	$3.0M	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	504.21	+0.024%	$1.3M	$401K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.57	+0.095%	$18K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.10	+0.200%	$6K	$3.6M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.86	−0.046%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.09	0.000%	$59K	$224K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.48	+0.077%	$2.2M	$828K	10x	as long as short
BloFin MSFT-USDT	+0.0006%	8h	504.38	+0.057%	$191K	$205K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	504.00	−0.018%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.19	+0.020%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.99	−0.020%	$1.2M	$510K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.95	−0.028%	$697K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.99	−0.020%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.19	+0.020%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0048%	1h	503.68	−0.081%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.77	−0.064%	$303K	$679K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.94	−0.030%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.00	−0.018%	$514K	$411K	15x	as long as short
Paradex MSFT-USD-PERPlong	+0.0052%	8h	504.09	long leg	$222	—	5x
KuCoin MSFTUSDTM	+0.0100%	8h	503.88	−0.042%	$1.6M	$98K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.10	+0.002%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.08	−0.002%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.02	−0.014%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	503.84	−0.050%	$33K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.94	+0.367%	$116K	$45K	30x	as long as short