Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0007%/8h= −0.7% APRpaid last 24h −0.001%

Price spread now: SoDEX against Paradex+0.007%7-day average — · you sell dearer than you buy

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

Long on Paradex 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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex MSFT-USD-PERP	500.96	0.0057	pay 0.0057% / 8h	5h 04m	$220	—	5x
Short	SoDEX MSFT-USD	500.99	0.0050	get 0.0006% / 1h	4m 57s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$1.37
Price spread: +0.007% → 0.000%: $0.67
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.7
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Paradex: 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 Paradex no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Paradex 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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.97	+0.003%	$678K	$458K	10x	as long as short
Nado MSFT-PERP	−0.0035%	1h	500.79	−0.033%	$413K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.17	+0.043%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.02	+0.013%	$337K	$888K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.15	+0.038%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.83	−0.025%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.18	+0.045%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	500.66	−0.059%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	500.98	+0.005%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.11	+0.031%	$4.5M	$2.5M	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	500.98	+0.004%	$1.3M	$647K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.19	+0.046%	$18K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.93	+0.194%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.77	−0.037%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.00	+0.009%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.35	+0.079%	$2.2M	$774K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.15	+0.039%	$189K	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.06	+0.021%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.86	−0.019%	$682K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	500.85	−0.021%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	500.98	+0.005%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.68	−0.055%	$22.1M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.72	−0.047%	$301K	$648K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	500.99	+0.007%	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.63	−0.065%	$515K	$494K	15x	as long as short
Paradex MSFT-USD-PERPlong	+0.0057%	8h	500.96	long leg	$220	—	5x
Phoenix MSFT	+0.0064%	1h	500.87	−0.017%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.92	−0.007%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.85	−0.021%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.00	+0.009%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	500.97	+0.002%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.15	+0.039%	$1.1M	$479K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.73	+0.154%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0432%	4h	501.04	+0.016%	$102K	$243K	10x	as long as short