Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: tradeXYZ against SoDEX−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 SoDEX Short on tradeXYZ

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—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: tradeXYZ is 0.058% cheaper against SoDEX than usual: you would sell low and buy high, −$6 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSFT-USD	501.18	0.0050	pay 0.0006% / 1h	23m 39s	$60K	$3K	10x
Short	tradeXYZ xyz:MSFT	500.89	0.0050	get 0.0006% / 1h	23m 39s	$22.1M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against SoDEX. 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 SoDEXbpFee tradeXYZbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → 0.000%: −$5.79
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$31.79
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; tradeXYZ: live order book, 4 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 4 min ago	0.10 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit

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
edgeX MSFTUSDC	−0.0517%	4h	501.54	+0.073%	$102K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.91	−0.054%	$678K	$457K	10x	as long as short
Nado MSFT-PERP	−0.0035%	1h	501.17	−0.002%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	501.57	+0.078%	$189K	$203K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.51	+0.067%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.18	0.000%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.30	+0.024%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.17	−0.002%	$7.3M	$1.8M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.51	+0.066%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.21	+0.006%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.47	+0.058%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.44	+0.052%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.68	+0.100%	$19K	$297K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.09	+0.182%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.99	−0.038%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.16	−0.004%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.34	+0.032%	$2.2M	$769K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.20	+0.004%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.20	+0.004%	$685K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.21	+0.006%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.39	+0.042%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTshort	+0.0050%	1h	500.89	−0.058%	$22.1M	$8.9M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	500.94	−0.048%	$301K	$648K	10x	as long as short
SoDEX MSFT-USDlong	+0.0050%	1h	501.18	long leg	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	−0.034%	$524K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0060%	8h	501.16	−0.004%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.44	+0.052%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.23	+0.010%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.13	−0.010%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.31	+0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.22	+0.008%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0128%	1h	500.95	−0.046%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0176%	1h	501.52	+0.068%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.86	+0.136%	$115K	$45K	30x	as long as short