Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against OKX−0.058%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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. SoDEX is 0.058% cheaper against OKX than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 3.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	502.05	0	get 0.0000% / 8h	13m 03s	$3.0M	$2.3M	20x
Short	SoDEX MSFT-USD	501.76	0.0050	get 0.0006% / 1h	13m 03s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $10.5
Price spread: −0.058% → 0.000%: −$5.78
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$13.28
Costs to cover: 0.180%
Break-even: 15.9 days

Slippage unknown: OKX: live order book, 4 min ago; SoDEX: 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, 4 min ago	0.10 bp	8.2 bp −$8	16.5 bp −$165	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Nado MSFT-PERP	−0.0026%	1h	501.75	−0.060%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.058%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.06	+0.003%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.76	−0.059%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.86	−0.038%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	502.05	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.65	−0.080%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.87	−0.036%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.88	−0.033%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.94	−0.022%	$19K	$295K	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	502.61	+0.112%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.65	−0.080%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.77	−0.056%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.97	−0.016%	$2.2M	$748K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.86	−0.038%	$188K	$209K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.61	−0.088%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0029%	8h	501.97	−0.016%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.73	−0.064%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.82	−0.046%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.84	−0.042%	$1.1M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.54	−0.102%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.49	−0.112%	$303K	$678K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	501.76	−0.058%	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.50	−0.110%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.80	−0.050%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.61	−0.088%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.40	−0.129%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.43	−0.123%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.77	−0.056%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.75	−0.059%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	501.93	−0.024%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.46	+0.082%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.78	−0.054%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0658%	4h	501.77	−0.055%	$102K	$244K	10x	as long as short