Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Extended against SunX−0.180%7-day average −0.184% · you buy dearer than you sell

Net, funding: paid 7d − costs−$242as in the Funding arb table

Net, price: spread back to 7d avg − costs−$243as in the Price arb table

costs, in and out, $10k−$2432.430% of the position

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now −0.180%, 7d avg −0.184%

Together, before fees−0.016%+ Points / potential airdropExtended: Active · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	502.16	0	get 0.0000% / 8h	7h 10m	$6K	$4.1M	20x
Short	Extended MSFT_24_5-USD	501.26	0	get 0.0000% / 1h	10m 58s	$337K	$900K	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against SunX. 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 SunXbpFee ExtendedbpOrdersPrice spread, now −0.180%Rate

Funding earned: $0
Price spread: −0.180% → −0.184%: $0.38
Slippage, 4 orders: −$230.04
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$242.66
Costs to cover: 2.430%
Break-even: never at this rate

Slippage from SunX: live order book, 7 min ago; Extended: live order book, 12 min ago.

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 SunX live order book, 7 min ago	30.16 bp	126.2 bp −$126	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 12 min ago	0.30 bp	5.4 bp −$5	38.8 bp −$388	doesn't fit	doesn't fit

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
edgeX MSFTUSDC	−0.0508%	4h	501.42	−0.148%	$102K	$244K	10x	as long as short
BloFin MSFT-USDT	−0.0013%	8h	501.48	−0.135%	$188K	$205K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.183%	$685K	$453K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.53	−0.125%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	501.26	−0.180%	$337K	$900K	17x
Binance MSFTUSDT	0.0000%	8h	501.37	−0.157%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.32	−0.167%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.38	−0.155%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.23	−0.185%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.41	−0.149%	$3.8M	$2.1M	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	501.33	−0.165%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.50	−0.131%	$19K	$293K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	502.16	long leg	$6K	$4.1M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.11	−0.209%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.24	−0.183%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.97	−0.038%	$2.2M	$760K	10x	as long as short
Nado MSFT-PERP	+0.0018%	1h	501.23	−0.185%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.25	−0.181%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.44	−0.143%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.34	−0.163%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.10	−0.211%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.04	−0.223%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.31	−0.169%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.05	−0.221%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.39	−0.154%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.24	−0.183%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.36	−0.159%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.13	−0.205%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.36	−0.159%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.28	−0.176%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	501.50	−0.131%	$1.1M	$486K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.30	−0.171%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	−0.080%	$115K	$45K	30x	as long as short
Hotstuff MSFT-PERP	+0.0232%	1h	501.12	−0.207%	$32K	$8K	20x	as long as short