Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.022%

Price spread now: Paradex against Coinbase International+0.056%7-day average — · you sell dearer than you buy

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

Long on Coinbase International 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 +$3 a day on $10k at the current rate, and Paradex is 0.056% dearer against Coinbase International than usual: you sell high and buy low: +$6 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	Coinbase International MSFT-PERP-INTX	500.97	−0.0040	get 0.0005% / 1h	35m 40s	$678K	$456K	10x
Short	Paradex MSFT-USD-PERP	501.25	0.0058	get 0.0058% / 8h	4h 35m	$221	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Coinbase International. 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 Coinbase InternationalbpFee ParadexbpOrdersPrice spread, now +0.056%Rate

Funding earned: $20.56
Price spread: +0.056% → 0.000%: $5.57
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: $12.13
Costs to cover: 0.140%
Break-even: 2.9 days

Slippage unknown: Coinbase International: 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 Coinbase International live order book, 23 min ago	2.70 bp	8.3 bp −$8	10.4 bp −$104	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
edgeX MSFTUSDC	−0.0361%	4h	501.31	+0.067%	$102K	$242K	10x	as long as short
Hotstuff MSFT-PERP	−0.0064%	1h	500.90	−0.014%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0040%	1h	500.97	long leg	$678K	$456K	10x
Nado MSFT-PERP	−0.0021%	1h	501.03	+0.011%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0014%	8h	501.36	+0.078%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.07	+0.019%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.25	+0.057%	$341K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.38	+0.082%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.06	+0.018%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.26	+0.058%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.25	+0.056%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.32	+0.070%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.34	+0.073%	$1.3M	$618K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.38	+0.082%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.12	+0.230%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.06	+0.018%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.18	+0.042%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.41	+0.088%	$2.2M	$779K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.14	+0.034%	$674K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.24	+0.054%	$1.1M	$5.5M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.10	+0.026%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.16	+0.038%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	+0.020%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.88	−0.018%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.95	−0.004%	$318K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.22	+0.050%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.88	−0.018%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0058%	8h	501.25	+0.056%	$221	—	5x
KuCoin MSFTUSDTM	+0.0100%	8h	500.92	−0.010%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.77	−0.040%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.28	+0.062%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.24	+0.055%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.39	+0.084%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.66	+0.138%	$115K	$45K	30x	as long as short