Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: GRVT against SoDEX+0.003%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 GRVT

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 airdropGRVT: 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: −$2 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	503.66	0.0050	pay 0.0006% / 1h	33m 01s	$60K	$3K	10x
Short	GRVT MSFT_USDT_Perp	503.67	0	get 0.0000% / 8h	2h 33m	$19K	$312K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$10.5
Price spread: +0.003% → 0.000%: $0.29
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$27.21
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; GRVT: live order book, 14 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 GRVT live order book, 14 min ago	1.19 bp	8.3 bp −$8	17.6 bp −$176	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.26	−0.079%	$682K	$465K	10x	as long as short
BloFin MSFT-USDT	−0.0015%	8h	503.79	+0.026%	$190K	$206K	20x	as long as short
Nado MSFT-PERP	−0.0004%	1h	503.63	−0.005%	$413K	$66K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.86	+0.039%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.79	+0.027%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.93	+0.054%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.72	+0.012%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.63	−0.006%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.59	−0.014%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.71	+0.010%	$3.8M	$2.9M	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	503.69	+0.005%	$1.3M	$479K	—	as long as short
GRVT MSFT_USDT_Perpshort	0.0000%	8h	503.67	+0.003%	$19K	$312K	10x
SunX MSFT-USDT	0.0000%	8h	504.69	+0.205%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.63	−0.006%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.75	+0.018%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.08	+0.083%	$2.2M	$797K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.57	−0.018%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.72	+0.012%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.76	+0.020%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.37	−0.058%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.79	+0.026%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.51	−0.030%	$22.3M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.43	−0.046%	$303K	$720K	10x	as long as short
SoDEX MSFT-USDlong	+0.0050%	1h	503.66	long leg	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.02	−0.127%	$517K	$470K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.71	+0.009%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.39	−0.054%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.30	−0.071%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.77	+0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.78	+0.025%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	504.01	+0.069%	$1.2M	$506K	20x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	503.28	−0.075%	$32K	$8K	20x	as long as short
edgeX MSFTUSDC	+0.0128%	4h	503.67	+0.001%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.85	−0.161%	$115K	$45K	30x	as long as short