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 0.000%

Price spread now: OKX against SunX−0.159%47s7-day average −0.165% · you buy dearer than you sell

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2352.346% of the position

Long on SunX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.159%, 7d avg −0.165%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	504.32	0	get 0.0000% / 8h	56m 31s	$6K	$3.9M	20x
Short	OKX MSFT-USDT-SWAP	503.52	0	get 0.0000% / 8h	56m 31s	$3.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SunX. 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 SunXbpFee OKXbpOrdersPrice spread, now −0.159%Rate

Funding earned: $0
Price spread: −0.159% → −0.165%: $0.68
Slippage, 4 orders: −$216.59
Fee SunX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$233.91
Costs to cover: 2.346%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; OKX: live order book, 6 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 SunX live order book, 12 min ago	29.13 bp	111.6 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 6 min ago	0.60 bp	7.8 bp −$8	15.2 bp −$152	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	−0.0132%	1h	503.46	−0.170%	$414K	$67K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0088%	1h	503.25	−0.212%	$27K	$44K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0027%	1h	503.12	−0.238%	$22.4M	$8.9M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.34	−0.195%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.38	−0.187%	$338K	$1.6M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.44	−0.175%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.32	−0.198%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	503.52	−0.159%	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	503.26	−0.210%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.54	−0.155%	$3.8M	$2.9M	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	503.65	−0.133%	$1.3M	$414K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.66	−0.131%	$19K	$328K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	504.32	long leg	$6K	$3.9M	20x
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.66	−0.131%	$682K	$450K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.47	−0.169%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.62	−0.139%	$2.2M	$823K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	503.56	−0.151%	$190K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	−0.196%	$695K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.44	−0.174%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.29	−0.204%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.62	−0.139%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.14	−0.234%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.37	−0.188%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.22	−0.218%	$512K	$439K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	503.45	−0.172%	$222	—	5x	as long as short
Lighter MSFT	+0.0056%	1h	503.48	−0.167%	$1.2M	$518K	20x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	503.19	−0.224%	$32K	$8K	20x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	−0.186%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.94	−0.274%	$1.6M	$61K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.41	−0.180%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.49	−0.165%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.45	−0.173%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.82	−0.099%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0451%	4h	503.51	−0.161%	$102K	$242K	10x	as long as short