Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against OKX−0.022%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on OKX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 7 days−0.027%−$3 · spread now −0.022%, 7d avg −0.042%

Together, before fees−0.032%−$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	502.28	0	get 0.0000% / 8h	7h 49m	$3.0M	$2.3M	20x
Short	Bybit MSFTUSDT	502.17	0	get 0.0000% / 8h	7h 49m	$7.4M	$1.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → −0.042%: $1.98
Slippage, 4 orders: −$17.86
Fee OKX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.88
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bybit: 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, 2 min ago	0.10 bp	10.2 bp −$10	18.1 bp −$181	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.70 bp	10.2 bp −$10	18.4 bp −$184	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
BloFin MSFT-USDT	−0.0016%	8h	502.21	−0.014%	$188K	$207K	20x	as long as short
Nado MSFT-PERP	−0.0011%	1h	501.90	−0.077%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.57	−0.141%	$680K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.08	−0.039%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.15	−0.026%	$342K	$482K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.24	−0.008%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDTshort	0.0000%	8h	502.17	−0.022%	$7.4M	$1.7M	100x
OKX MSFT-USDT-SWAPlong	0.0000%	8h	502.28	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.93	−0.070%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.05	−0.046%	$3.8M	$2.2M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	502.14	−0.028%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.04	−0.049%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.98	+0.139%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.96	−0.064%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.09	−0.038%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.34	+0.012%	$2.2M	$753K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.03	−0.050%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	502.08	−0.040%	$1.1M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.06	−0.044%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.83	−0.090%	$22.3M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.78	−0.100%	$303K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.09	−0.038%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.60	−0.135%	$529K	$490K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.05	−0.045%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	501.80	−0.096%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0072%	1h	502.27	−0.002%	$1.1M	$486K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.83	−0.090%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.80	−0.096%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.61	−0.133%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.01	−0.054%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.90	−0.075%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.95	−0.066%	$97K	$110K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.20	−0.016%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0477%	4h	501.98	−0.059%	$102K	$243K	10x	as long as short