Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Variational Omni against OKX−0.010%7-day average −0.008% · you buy dearer than you sell

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

Long on OKX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days−0.020%−$2 · spread now −0.010%, 7d avg −0.008%

Together, before fees−0.013%+ Points / potential airdropVariational Omni: Active · farm board−$1 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	502.31	0	get 0.0000% / 8h	43m 52s	$3.0M	$2.3M	20x
Short	Variational Omni MSFT	502.26	0	get 0.0000% / 8h	43m 52s	$1.3M	$702K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → −0.008%: −$0.14
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.14
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Variational Omni: RFQ quote, just now. 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, 3 min ago	0.10 bp	7.9 bp −$8	16.3 bp −$163	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, just now	2.53 bp	doesn't fit	10.1 bp −$101	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	−0.0026%	8h	502.32	+0.002%	$188K	$209K	20x	as long as short
Nado MSFT-PERP	−0.0021%	1h	501.96	−0.070%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.109%	$687K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.20	−0.022%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.22	−0.017%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.31	0.000%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	502.31	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	502.03	−0.056%	$3.2M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.29	−0.004%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	502.26	−0.010%	$1.3M	$702K	—

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	502.15	−0.031%	$18K	$308K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.06	+0.149%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.12	−0.038%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.43	+0.024%	$2.2M	$752K	10x	as long as short
Bybit MSFTUSDT	+0.0028%	8h	502.34	+0.006%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.15	−0.032%	$638K	$2.1M	20x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	501.87	−0.088%	$32K	$8K	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.13	−0.036%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.19	−0.024%	$1.1M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.87	−0.088%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.80	−0.102%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.20	−0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.76	−0.109%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	502.20	−0.021%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.96	−0.070%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.75	−0.111%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.73	−0.115%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.19	−0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.23	−0.015%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0109%	1h	502.10	−0.042%	$27K	$101K	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.36	+0.010%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.57	+0.052%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.17	−0.028%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0785%	4h	502.22	−0.018%	$102K	$243K	10x	as long as short