Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0026%/8h= +2.9% APRpaid last 24h −0.014%

Price spread now: GRVT against Vest−0.005%7-day average — · you buy dearer than you sell

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

Long on Vest Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · GRVT: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSFT-USD-PERP	504.62	0.0046	pay 0.0006% / 1h	2m 35s	—	$1K	25x
Short	GRVT MSFT_USDT_Perp	504.59	0.0072	get 0.0072% / 8h	7h 02m	$19K	$312K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Vest. 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 VestbpFee GRVTbpOrdersPrice spread, now −0.005%Rate

Funding earned: $5.53
Price spread: −0.005% → 0.000%: −$0.54
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$6.01
Costs to cover: 0.110%
Break-even: 14.6 days

Slippage unknown: Vest: no order-book sample; GRVT: live order book, 30 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 Vest no order-book sample	—	—	—	—	—
Sell GRVT live order book, 30 min ago	1.29 bp	7.2 bp −$7	14.8 bp −$148	doesn't fit	doesn't fit

Vest: 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
edgeX MSFTUSDC	−0.0838%	4h	504.53	−0.018%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	504.35	−0.054%	$693K	$455K	10x	as long as short
BloFin MSFT-USDT	−0.0011%	8h	504.92	+0.059%	$191K	$206K	20x	as long as short
Nado MSFT-PERP	−0.0007%	1h	504.43	−0.037%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.59	−0.007%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.72	+0.019%	$336K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.85	+0.046%	$16.3M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.53	−0.018%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.89	+0.054%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.52	−0.020%	$3.1M	$1.9M	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	504.81	+0.038%	$3.9M	$2.8M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.53	−0.017%	$1.3M	$394K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	505.63	+0.200%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.45	−0.034%	$27K	$45K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.57	−0.010%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	505.06	+0.087%	$2.2M	$861K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.31	−0.061%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.71	+0.018%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.57	−0.010%	$1.2M	$534K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.63	+0.002%	$698K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.55	−0.014%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERPlong	+0.0046%	1h	504.62	long leg	—	$1K	25x
tradeXYZ xyz:MSFT	+0.0050%	1h	504.33	−0.057%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.44	−0.036%	$304K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.56	−0.012%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.35	−0.054%	$536K	$387K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	504.59	−0.005%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	504.34	−0.055%	$33K	$8K	20x	as long as short
GRVT MSFT_USDT_Perpshort	+0.0072%	8h	504.59	−0.005%	$19K	$312K	10x
KuCoin MSFTUSDTM	+0.0100%	8h	504.03	−0.117%	$1.6M	$139K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.14	−0.095%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.67	+0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.65	+0.006%	$56	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.07	−0.109%	$115K	$45K	30x	as long as short