Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0001%/8hnext payment +$0.01 per $10,000 · paid last 24h +0.012%

Price spread now: BloFin against OKX+0.014%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on OKX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.008%+$1 · spread now +0.014%, 7d avg +0.020%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	500.64	0	get 0.0000% / 8h	4h 23m	$3.1M	$2.2M	20x
Short	BloFin MSFT-USDT	500.71	0.0001	get 0.0001% / 8h	4h 23m	$192K	$202K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0.21
Price spread: +0.014% → +0.020%: −$0.63
Slippage, 4 orders: −$7.68
Fee OKX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$30.11
Costs to cover: 0.297%
Break-even: 1022.7 days

Slippage from OKX: live order book, 3 min ago; BloFin: live order book, 3 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 OKX live order book, 3 min ago	1.50 bp	9.3 bp −$9	14.6 bp −$146	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.20 bp	6.5 bp −$6	8.4 bp −$84	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
Nado MSFT-PERP	−0.0036%	1h	500.55	−0.019%	$447K	$41K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.15	−0.098%	$687K	$377K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	500.50	−0.029%	$156K	$87K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	500.59	−0.010%	$374K	$398K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	500.68	+0.008%	$15.6M	$17.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.70	+0.012%	$7.3M	$1.5M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	500.64	long leg	$3.1M	$2.2M	20x
Gate MSFT_USDT	0.0000%	8h	500.46	−0.036%	$3.0M	$1.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	500.70	+0.011%	$1.3M	$732K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	500.67	+0.006%	$19K	$338K	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	501.45	+0.162%	$6K	$4.4M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	500.50	−0.028%	$58K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.08	+0.088%	$2.2M	$719K	10x	as long as short
BloFin MSFT-USDTshort	+0.0001%	8h	500.71	+0.014%	$192K	$202K	20x
Hotstuff MSFT-PERP	+0.0016%	1h	500.55	−0.018%	$40K	—	20x	as long as short
Bitget MSFTUSDT	+0.0016%	8h	500.50	−0.028%	$3.8M	$1.8M	100x	as long as short
Lighter MSFT	+0.0032%	1h	500.76	+0.024%	$1.1M	$624K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.67	+0.006%	$673K	$2.2M	20x	as long as short
QFEX MSFT-USD	+0.0045%	1h	500.69	+0.010%	$1.2M	$5.3M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	500.71	+0.014%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.51	−0.026%	$22.5M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.21	−0.086%	$299K	$450K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	500.65	+0.002%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	500.70	+0.013%	$220	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.44	−0.040%	$510K	$458K	15x	as long as short
Phoenix MSFT	+0.0080%	1h	500.73	+0.018%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.24	−0.080%	$1.5M	$11K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.58	−0.012%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	500.60	−0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	500.62	−0.004%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0170%	1h	500.70	+0.012%	$27K	$115K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	500.66	+0.004%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0553%	1h	500.61	−0.006%	$111K	$76K	10x	as long as short
edgeX MSFTUSDC	+0.0773%	4h	500.68	+0.009%	$102K	$243K	10x	as long as short