Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Extended+0.004%7-day average +0.023% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now +0.004%, 7d avg +0.023%

Together, before fees+0.159%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board+$16 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.35	0	get 0.0000% / 1h	5m 01s	$342K	$905K	17x
Short	Variational Omni MSFT	501.37	0	get 0.0000% / 8h	7h 05m	$1.3M	$690K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → +0.023%: −$1.95
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.95
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 3 min ago; Variational Omni: RFQ quote, 4 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 Extended live order book, 3 min ago	0.70 bp	6.0 bp −$6	38.6 bp −$386	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.53 bp	doesn't fit	18.1 bp −$181	doesn't fit	doesn't fit

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	−0.0047%	4h	501.37	+0.003%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.03	−0.065%	$685K	$454K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.48	+0.026%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.35	long leg	$342K	$905K	17x
Binance MSFTUSDT	0.0000%	8h	501.47	+0.023%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.24	−0.023%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.51	+0.031%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.28	−0.015%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.42	+0.013%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	501.37	+0.004%	$1.3M	$690K	—

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.41	+0.012%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.23	+0.175%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.10	−0.051%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.25	−0.021%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.59	+0.047%	$2.2M	$759K	10x	as long as short
Nado MSFT-PERP	+0.0011%	1h	501.19	−0.033%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	501.48	+0.025%	$188K	$205K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.29	−0.013%	$617K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.37	+0.003%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.29	−0.013%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.96	−0.078%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.04	−0.063%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.36	+0.001%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.92	−0.086%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.32	−0.006%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.09	−0.053%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.28	−0.015%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.87	−0.096%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.31	−0.009%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.29	−0.012%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	501.48	+0.025%	$1.1M	$486K	20x	as long as short
Hotstuff MSFT-PERP	+0.0200%	1h	501.02	−0.067%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.23	−0.025%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.081%	$115K	$45K	30x	as long as short