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: GRVT against Variational Omni+0.008%104s7-day average +0.009% · you sell dearer than you buy

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

Long on Variational Omni Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.008%, 7d avg +0.009%

Together, before fees+0.005%+ Points / potential airdropVariational Omni: Active · GRVT: Active · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSFT	504.15	0	get 0.0000% / 8h	2h 21m	$1.3M	$477K	—
Short	GRVT MSFT_USDT_Perp	504.19	0	get 0.0000% / 8h	2h 21m	$19K	$322K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Variational Omni. 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 Variational OmnibpFee GRVTbpOrdersPrice spread, now +0.008%Rate

Funding earned: $0
Price spread: +0.008% → +0.009%: −$0.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$9.08
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; GRVT: live order book, 26 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 Variational Omni RFQ quote, 2 min ago	2.53 bp	doesn't fit	23.2 bp −$232	doesn't fit	doesn't fit
Sell GRVT live order book, 26 min ago	1.19 bp	8.3 bp −$8	17.6 bp −$176	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	−0.033%	$687K	$485K	10x	as long as short
Nado MSFT-PERP	−0.0033%	1h	504.33	+0.036%	$415K	$68K	20x	as long as short
BloFin MSFT-USDT	−0.0005%	8h	504.60	+0.090%	$189K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.33	+0.036%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.23	+0.016%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.37	+0.044%	$15.8M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.31	+0.032%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.61	+0.092%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.14	−0.001%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.35	+0.040%	$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 MSFTlong	0.0000%	8h	504.15	long leg	$1.3M	$477K	—
GRVT MSFT_USDT_Perpshort	0.0000%	8h	504.19	+0.008%	$19K	$322K	10x
SunX MSFT-USDT	0.0000%	8h	505.11	+0.191%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.11	−0.007%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.13	−0.003%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.77	+0.124%	$2.2M	$805K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.79	−0.071%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.19	+0.009%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.45	+0.060%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.06	−0.017%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.46	+0.062%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.03	−0.023%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.06	−0.017%	$304K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.13	−0.003%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.01	−0.027%	$518K	$472K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.34	+0.038%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	504.08	−0.013%	$33K	$8K	20x	as long as short
Lighter MSFT	+0.0088%	1h	504.44	+0.058%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.70	−0.089%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.91	−0.047%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.22	+0.015%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.27	+0.025%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	−0.021%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0832%	4h	504.10	−0.010%	$103K	$242K	10x	as long as short