Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: SunX against Vest+0.167%7-day average — · you sell dearer than you buy

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

Long on Vest Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 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 · farm boardneeds both histories

The price spread pays, funding is against you. SunX is 0.167% dearer against Vest than usual: you sell high and buy low (spread +0.167% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSFT-USD-PERP	502.68	0.0046	pay 0.0006% / 1h	24m 50s	—	$1K	25x
Short	SunX MSFT-USDT	503.52	0	get 0.0000% / 8h	3h 24m	$6K	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.167%Rate

Funding earned: −$9.59
Price spread: +0.167% → 0.000%: $16.71
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee SunX: 4 bp × 2 orders: −$8
Net: −$2.88
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; SunX: live order book, 3 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 SunX live order book, 3 min ago	29.11 bp	105.3 bp −$105	doesn't fit	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
Nado MSFT-PERP	−0.0103%	1h	502.55	−0.027%	$415K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.340%	$677K	$447K	10x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	502.76	+0.016%	$189K	$204K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0007%	1h	502.29	−0.078%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.57	−0.022%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.63	−0.010%	$339K	$884K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.83	+0.031%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.53	−0.030%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.81	+0.026%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.55	−0.026%	$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	502.63	−0.010%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.37	−0.061%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.17	−0.101%	$19K	$297K	10x	as long as short
SunX MSFT-USDTshort	0.0000%	8h	503.52	+0.167%	$6K	$4.0M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.45	−0.046%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.60	−0.016%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.86	+0.036%	$2.2M	$780K	10x	as long as short
Lighter MSFT	+0.0032%	1h	502.74	+0.012%	$1.1M	$503K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.50	−0.036%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	502.58	−0.020%	$1.2M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.06	−0.123%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERPlong	+0.0046%	1h	502.68	long leg	—	$1K	25x
Phoenix MSFT	+0.0048%	1h	501.61	−0.213%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.28	−0.080%	$303K	$701K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.61	−0.014%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	502.51	−0.033%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.96	−0.143%	$511K	$461K	15x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	502.30	−0.076%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.09	−0.117%	$1.6M	$55K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.18	−0.099%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.53	−0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.56	−0.023%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.14	−0.107%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0614%	4h	502.32	−0.072%	$102K	$242K	10x	as long as short