Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h −0.003%

Price spread now: BloFin against SoDEX+0.018%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on BloFin

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: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSFT-USD	501.77	0.0050	pay 0.0006% / 1h	58m 43s	$60K	$3K	10x
Short	BloFin MSFT-USDT	501.86	0.0014	get 0.0014% / 8h	1h 58m	$188K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$7.65
Price spread: +0.018% → 0.000%: $1.79
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$25.85
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 16 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 16 min ago	0.80 bp	8.6 bp −$9	11.6 bp −$116	doesn't fit	doesn't fit

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	−0.0024%	1h	501.41	−0.072%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.99	+0.044%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.76	−0.002%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.84	+0.014%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.74	−0.006%	$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	501.57	−0.040%	$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
Variational Omni MSFT	0.0000%	8h	501.83	+0.011%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.77	+0.001%	$19K	$325K	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	502.61	+0.167%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.43	−0.068%	$27K	$104K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.47	−0.060%	$690K	$433K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.69	−0.016%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.92	+0.030%	$2.2M	$767K	10x	as long as short
BloFin MSFT-USDTshort	+0.0014%	8h	501.86	+0.018%	$188K	$210K	20x
Lighter RH MSFT	+0.0032%	1h	501.68	−0.018%	$652K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.56	−0.042%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.42	−0.070%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.36	−0.082%	$309K	$683K	10x	as long as short
SoDEX MSFT-USDlong	+0.0050%	1h	501.77	long leg	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.34	−0.086%	$529K	$493K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.75	−0.004%	$1.1M	$5.8M	10x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.69	−0.016%	$221	—	5x	as long as short
Nado MSFT-PERP	+0.0070%	1h	501.39	−0.076%	$414K	$64K	20x	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	501.33	−0.088%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.43	−0.068%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.75	−0.004%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.79	+0.004%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.84	+0.014%	$1.1M	$589K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.66	−0.022%	$109K	$90K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	+0.261%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0795%	4h	501.83	+0.011%	$102K	$244K	10x	as long as short