Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0058%/8h= +6.3% APRpaid last 24h +0.008%

Price spread now: Paradex against Extended+0.005%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · Paradex: 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: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.23	0	get 0.0000% / 1h	35m 18s	$341K	$893K	17x
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 Extended. 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 ExtendedbpFee ParadexbpOrdersPrice spread, now +0.005%Rate

Funding earned: $12.16
Price spread: +0.005% → 0.000%: $0.46
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $3.62
Costs to cover: 0.090%
Break-even: 4.9 days

Slippage unknown: Extended: 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 Extended live order book, 23 min ago	0.60 bp	5.7 bp −$6	39.7 bp −$397	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	−0.0306%	4h	501.28	+0.010%	$102K	$243K	10x	as long as short
Hotstuff MSFT-PERP	−0.0064%	1h	500.91	−0.063%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.051%	$678K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0020%	1h	501.04	−0.038%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0014%	8h	501.36	+0.027%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.09	−0.027%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.23	long leg	$341K	$893K	17x
Binance MSFTUSDT	0.0000%	8h	501.35	+0.025%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.06	−0.033%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.46	+0.047%	$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	501.16	−0.013%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.32	+0.019%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.34	+0.022%	$1.3M	$618K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.38	+0.030%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.14	+0.182%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.01	−0.043%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.18	−0.009%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.41	+0.037%	$2.2M	$779K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.14	−0.017%	$674K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.23	+0.001%	$1.2M	$5.5M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.10	−0.025%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.17	−0.011%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	−0.031%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.88	−0.069%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.93	−0.059%	$318K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.16	−0.013%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.88	−0.069%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0058%	8h	501.25	+0.005%	$221	—	5x
KuCoin MSFTUSDTM	+0.0100%	8h	500.94	−0.057%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.96	−0.053%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.29	+0.013%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.26	+0.006%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.39	+0.033%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.66	+0.087%	$115K	$45K	30x	as long as short