Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0015%/8h= +1.7% APRpaid last 24h +0.004%

Price spread now: Paradex against QFEX+0.001%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on Paradex

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	503.49	0.0037	pay 0.0005% / 1h	19m 07s	$1.1M	$4.6M	10x
Short	Paradex MSFT-USD-PERP	503.49	0.0052	get 0.0052% / 8h	19m 07s	$222	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against QFEX. 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 QFEXbpFee ParadexbpOrdersPrice spread, now +0.001%Rate

Funding earned: $3.17
Price spread: +0.001% → 0.000%: $0.09
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.75
Costs to cover: 0.140%
Break-even: 30.8 days

Slippage unknown: QFEX: live order book, 10 min ago; Paradex: 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 QFEX live order book, 10 min ago	1.39 bp	6.4 bp −$6	7.6 bp −$76	13.4 bp −$1,339	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

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
Deribit MSFT_USDC-PERPETUAL	−0.0187%	1h	503.16	−0.066%	$27K	$44K	10x	as long as short
Nado MSFT-PERP	−0.0044%	1h	503.46	−0.005%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.73	+0.047%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.49	+0.001%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.64	+0.030%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.31	−0.036%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.66	+0.034%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.39	−0.020%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.62	+0.026%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.52	+0.005%	$1.3M	$404K	—	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	503.57	+0.016%	$19K	$322K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.42	+0.185%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.16	−0.066%	$681K	$447K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.53	+0.008%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.80	+0.062%	$2.2M	$818K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0006%	1h	503.15	−0.068%	$22.4M	$8.9M	20x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	503.64	+0.030%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.55	+0.012%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.42	−0.014%	$708K	$1.9M	20x	as long as short
edgeX MSFTUSDC	+0.0036%	4h	503.49	0.000%	$102K	$243K	10x	as long as short
QFEX MSFT-USDlong	+0.0037%	1h	503.49	long leg	$1.1M	$4.6M	10x
Arcus MSFT-USD	+0.0040%	1h	503.33	−0.032%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.77	+0.056%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.26	−0.046%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.42	−0.014%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.17	−0.064%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0052%	8h	503.49	+0.001%	$222	—	5x
Phoenix MSFT	+0.0064%	1h	503.38	−0.022%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.91	−0.115%	$1.6M	$68K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.37	−0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.44	−0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.48	−0.003%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0120%	1h	503.22	−0.054%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.86	+0.272%	$116K	$45K	30x	as long as short