Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.014%

Price spread now: OKX against tradeXYZ+0.116%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$360.361% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 7 days+0.015%+$2 · spread now +0.116%, 7d avg +0.125%

Together, before fees−0.041%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.125%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.057%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSFT	500.96	−0.0011	get 0.0001% / 1h	42m 44s	$22.1M	$8.7M	20x
Short	OKX MSFT-USDT-SWAP	501.54	0	get 0.0000% / 8h	3h 42m	$3.0M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.116%Rate

Funding earned: $2.26
Price spread: +0.116% → +0.125%: −$0.89
Slippage, 4 orders: −$8.1
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.72
Costs to cover: 0.361%
Break-even: 114.5 days

Slippage from tradeXYZ: live order book, 6 min ago; OKX: live order book, 4 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 tradeXYZ live order book, 6 min ago	0.40 bp	10.0 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.90 bp	9.0 bp −$9	16.9 bp −$169	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	−0.0253%	4h	501.35	+0.077%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0115%	1h	501.29	+0.065%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	+0.002%	$677K	$450K	10x	as long as short
tradeXYZ xyz:MSFTlong	−0.0011%	1h	500.96	long leg	$22.1M	$8.7M	20x
Aster MSFTUSDT	0.0000%	8h	501.24	+0.056%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.31	+0.069%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.45	+0.097%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.18	+0.044%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	501.54	+0.116%	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.25	+0.058%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.31	+0.070%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.34	+0.075%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.39	+0.086%	$18K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.20	+0.248%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.07	+0.022%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.36	+0.080%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.52	+0.112%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0018%	8h	501.47	+0.102%	$189K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.35	+0.078%	$1.1M	$503K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.11	+0.030%	$676K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	500.97	+0.002%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.30	+0.068%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.12	+0.032%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.39	+0.086%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	+0.022%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.10	+0.028%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.24	+0.056%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	+0.010%	$518K	$452K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.28	+0.063%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.66	−0.060%	$1.6M	$52K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.17	+0.042%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.24	+0.056%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.26	+0.060%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.54	+0.116%	$115K	$45K	30x	as long as short