Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.014%

Price spread now: Ondo Perps against SoDEX−0.064%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Ondo Perps

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 airdropOndo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.064% cheaper against SoDEX than usual: you would sell low and buy high, −$6 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSFT-USD	502.05	0.0050	pay 0.0006% / 1h	6m 15s	$60K	$3K	10x
Short	Ondo Perps MSFT-USD.P	501.73	0.0050	get 0.0006% / 1h	6m 15s	$529K	$493K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0.08
Price spread: −0.064% → 0.000%: −$6.37
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$19.29
Costs to cover: 0.130%
Break-even: 1614.5 days

Slippage unknown: SoDEX: no order-book sample; Ondo Perps: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Ondo Perps no order-book sample	—	—	—	—	—

SoDEX and Ondo Perps: 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
BloFin MSFT-USDT	−0.0024%	8h	502.15	+0.020%	$188K	$209K	20x	as long as short
Nado MSFT-PERP	−0.0002%	1h	501.86	−0.039%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.17	+0.024%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.05	0.000%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.15	+0.020%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.28	+0.046%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	501.76	−0.058%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.86	−0.038%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.12	+0.014%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.07	+0.003%	$1.3M	$702K	—	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	502.07	+0.003%	$19K	$309K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.91	+0.171%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.82	−0.046%	$27K	$101K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.094%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.97	−0.016%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.35	+0.060%	$2.2M	$755K	10x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.20	+0.030%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.02	−0.006%	$649K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.99	−0.012%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.91	−0.028%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.75	−0.060%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.63	−0.084%	$305K	$674K	10x	as long as short
SoDEX MSFT-USDlong	+0.0050%	1h	502.05	long leg	$60K	$3K	10x
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	501.73	−0.064%	$529K	$493K	15x
Paradex MSFT-USD-PERP	+0.0057%	8h	502.01	−0.008%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.86	−0.038%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.71	−0.068%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.95	−0.020%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.01	−0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.07	+0.003%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	502.19	+0.028%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.01	−0.008%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.050%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0793%	4h	502.06	+0.001%	$102K	$242K	10x	as long as short