Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.065%

Price spread now: Paradex against Arcus+0.080%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Paradex is 0.080% dearer against Arcus than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	503.79	0.0040	pay 0.0005% / 1h	25m 09s	$97K	$110K	10x
Short	Paradex MSFT-USD-PERP	504.19	0.0052	get 0.0052% / 8h	2h 25m	$222	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Arcus. 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 ArcusbpFee ParadexbpOrdersPrice spread, now +0.080%Rate

Funding earned: $2.5
Price spread: +0.080% → 0.000%: $7.95
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $1.95
Costs to cover: 0.085%
Break-even: 1.5 days

Slippage unknown: Arcus: live order book, 23 min ago; Paradex: no order-book sample. 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 Arcus live order book, 23 min ago	3.68 bp	10.0 bp −$10	14.8 bp −$148	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.98	+0.038%	$687K	$485K	10x	as long as short
Nado MSFT-PERP	−0.0034%	1h	504.11	+0.064%	$415K	$68K	20x	as long as short
BloFin MSFT-USDT	−0.0009%	8h	504.26	+0.093%	$189K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.06	+0.053%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.16	+0.074%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.29	+0.098%	$15.8M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.00	+0.042%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.30	+0.101%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.99	+0.040%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.26	+0.093%	$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 MSFT	0.0000%	8h	504.15	+0.071%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.79	0.000%	$19K	$317K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.12	+0.264%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.04	+0.050%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.22	+0.085%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.48	+0.137%	$2.2M	$801K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.79	0.000%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.07	+0.056%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.25	+0.091%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USDlong	+0.0040%	1h	503.79	long leg	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	504.30	+0.101%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.92	+0.026%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.88	+0.018%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.17	+0.075%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.80	+0.002%	$518K	$471K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0052%	8h	504.19	+0.080%	$222	—	5x
Lighter MSFT	+0.0088%	1h	504.30	+0.101%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.48	−0.062%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.91	+0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.08	+0.058%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.12	+0.065%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0192%	1h	503.67	−0.024%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.050%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0832%	4h	504.10	+0.061%	$103K	$242K	10x	as long as short