Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0481%/8h= +52.7% APRpaid last 24h −0.127%

Price spread now: edgeX against Injective−0.082%7-day average +0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.412%−$41 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.082%, 7d avg +0.039%

Together, before fees−0.296%+ Points / potential airdropedgeX: Active · farm board−$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.120% cheaper against Injective than usual: you would sell low and buy high (spread −0.082% now, against its 7-day average of +0.039%). If the spread goes back, that is −$12 on $10k: about 20 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.412%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSFT/USDC PERP	504.04	0.0220	pay 0.0028% / 1h	15m 14s	$115K	$45K	30x
Short	edgeX MSFTUSDC	503.63	0.0701	get 0.0351% / 4h	1h 15m	$102K	$244K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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 InjectivebpFee edgeXbpOrdersPrice spread, now −0.082%Rate

Funding earned: $101.01
Price spread: −0.082% → +0.039%: −$12.01
Slippage, 4 orders: −$31.08
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $48.91
Costs to cover: 0.401%
Break-even: 3.6 days

Slippage from Injective: live order book, 28 min ago; edgeX: live order book, 27 min ago.

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 Injective live order book, 28 min ago	10.13 bp	10.1 bp −$10	10.1 bp −$101	65079.0 bp −$6.51M	365394.2 bp −$182.70M
Sell edgeX live order book, 27 min ago	5.26 bp	9.9 bp −$10	12.3 bp −$123	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
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.075%	$682K	$500K	10x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	503.69	−0.069%	$190K	$207K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.43	−0.122%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.55	−0.097%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.70	−0.067%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.44	−0.119%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.76	−0.056%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.51	−0.105%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.66	−0.075%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	−0.086%	$1.3M	$499K	—	as long as short

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	503.61	−0.085%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.45	+0.081%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.35	−0.137%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.63	−0.081%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.69	−0.069%	$2.2M	$822K	10x	as long as short
Nado MSFT-PERP	+0.0025%	1h	503.41	−0.126%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.51	−0.105%	$700K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.61	−0.085%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.40	−0.127%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.70	−0.067%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.15	−0.177%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.30	−0.147%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.56	−0.095%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.13	−0.181%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	503.55	−0.097%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.151%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	503.17	−0.173%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.186%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.15	−0.177%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.52	−0.103%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.55	−0.098%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	503.71	−0.065%	$1.2M	$517K	20x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	504.04	long leg	$115K	$45K	30x
edgeX MSFTUSDCshort	+0.0701%	4h	503.63	−0.082%	$102K	$244K	10x