Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0560%/8h= −61.3% APRpaid last 24h +0.025%

Price spread now: Orderly against edgeX−0.036%7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Orderly is 0.036% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	501.74	0.0660	pay 0.0330% / 4h	1h 26m	$102K	$244K	10x
Short	Orderly PERP_MSFT_USDC_mythos	501.56	0.0100	get 0.0100% / 8h	5h 26m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against edgeX. 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 edgeXbpFee OrderlybpOrdersPrice spread, now −0.036%Rate

Funding earned: −$117.52
Price spread: −0.036% → 0.000%: −$3.63
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$136.15
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 36 min ago; Orderly: 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 edgeX live order book, 36 min ago	5.68 bp	10.3 bp −$10	12.8 bp −$128	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	501.24	−0.100%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0031%	1h	501.37	−0.075%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0021%	8h	501.70	−0.008%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.67	−0.013%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.43	−0.061%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.53	−0.042%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.45	−0.058%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	+0.008%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.42	−0.064%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.60	−0.028%	$4.5M	$2.5M	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	501.82	+0.015%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.69	−0.011%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.39	+0.129%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.30	−0.088%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.45	−0.058%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.65	−0.018%	$2.2M	$767K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.40	−0.068%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.38	−0.072%	$685K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.45	−0.058%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.52	−0.044%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.21	−0.106%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.20	−0.108%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.20	−0.108%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.50	−0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.39	−0.070%	$524K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0061%	8h	501.51	−0.047%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.44	−0.060%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.44	−0.060%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.49	−0.050%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	501.56	−0.036%	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	501.49	−0.050%	$55	—	10x	as long as short
Lighter MSFT	+0.0184%	1h	501.69	−0.010%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.299%	$115K	$45K	30x	as long as short
edgeX MSFTUSDClong	+0.0660%	4h	501.74	long leg	$102K	$244K	10x