Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Variational Omni against SunX−0.201%7-day average −0.168% · you buy dearer than you sell

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

Long on SunX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.201%, 7d avg −0.168%

Together, before fees−0.003%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.032% cheaper against SunX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.168%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	505.16	0	get 0.0000% / 8h	2h 23m	$6K	$3.9M	20x
Short	Variational Omni MSFT	504.15	0	get 0.0000% / 8h	2h 23m	$1.3M	$477K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.201%Rate

Funding earned: $0
Price spread: −0.201% → −0.168%: −$3.21
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$11.21
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 SunX live order book, 5 min ago	29.21 bp	110.0 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	2.53 bp	doesn't fit	20.6 bp −$206	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.98	−0.234%	$687K	$485K	10x	as long as short
Nado MSFT-PERP	−0.0034%	1h	504.11	−0.207%	$415K	$68K	20x	as long as short
BloFin MSFT-USDT	−0.0009%	8h	504.26	−0.178%	$189K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.16	−0.199%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.30	−0.169%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.44	−0.143%	$15.8M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.24	−0.182%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.45	−0.141%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.15	−0.200%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.41	−0.148%	$3.8M	$3.0M	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 MSFTshort	0.0000%	8h	504.15	−0.201%	$1.3M	$477K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	503.79	−0.272%	$19K	$317K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	505.16	long leg	$6K	$3.9M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.20	−0.190%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.25	−0.180%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.52	−0.127%	$2.2M	$803K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.79	−0.271%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.23	−0.184%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.36	−0.158%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.96	−0.238%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.37	−0.156%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.05	−0.220%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.02	−0.226%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.16	−0.198%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.01	−0.228%	$518K	$472K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.31	−0.168%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.49	−0.133%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.64	−0.301%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.91	−0.247%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.21	−0.188%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.24	−0.181%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0128%	1h	503.94	−0.242%	$33K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	−0.222%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0832%	4h	504.10	−0.210%	$103K	$242K	10x	as long as short