Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against OKX−0.024%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Aevo

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—needs both histories

Funding pays, the price is against you. Aevo is 0.024% cheaper against OKX than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 19 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	502.85	0	get 0.0000% / 8h	2h 47m	$3.0M	$2.3M	20x
Short	Aevo MSFT-PERP	502.73	0.0104	get 0.0013% / 1h	47m 03s	$55	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against OKX. 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 OKXbpFee AevobpOrdersPrice spread, now −0.024%Rate

Funding earned: $21.84
Price spread: −0.024% → 0.000%: −$2.41
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$6.57
Costs to cover: 0.260%
Break-even: 9.1 days

Slippage unknown: OKX: live order book, 5 min ago; Aevo: 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 OKX live order book, 5 min ago	0.10 bp	7.7 bp −$8	14.8 bp −$148	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	502.41	−0.088%	$684K	$454K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.59	−0.052%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.71	−0.027%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.67	−0.036%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.47	−0.076%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	502.85	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	502.46	−0.078%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.70	−0.030%	$4.2M	$2.7M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.78	−0.015%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.91	+0.012%	$18K	$311K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	503.60	+0.149%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.52	−0.066%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.71	−0.028%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.10	+0.050%	$2.2M	$791K	10x	as long as short
Nado MSFT-PERP	+0.0001%	1h	502.52	−0.065%	$412K	$66K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	502.53	−0.064%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	502.85	0.000%	$190K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.60	−0.050%	$678K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	502.67	−0.036%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.59	−0.052%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.69	−0.032%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	502.26	−0.117%	$22.2M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.46	−0.078%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.59	−0.052%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.31	−0.107%	$512K	$463K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.68	−0.034%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	502.38	−0.093%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.57	−0.056%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.63	−0.044%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.67	−0.036%	$8K	—	10x	as long as short
Aevo MSFT-PERPshort	+0.0104%	1h	502.73	−0.024%	$55	—	10x
Lighter MSFT	+0.0120%	1h	502.79	−0.012%	$1.2M	$495K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.078%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0752%	4h	502.72	−0.026%	$102K	$244K	10x	as long as short