Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against SunX−0.258%7-day average −0.254% · you buy dearer than you sell

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

Long on SunX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 4 days (all we have)−0.131%−$13 · spread now −0.258%, 7d avg −0.254%

Together, before fees−0.016%+ Points / potential airdropOndo Perps: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.254%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	504.73	0	get 0.0000% / 8h	7h 21m	$6K	$3.5M	20x
Short	Ondo Perps MSFT-USD.P	503.43	0.0050	get 0.0006% / 1h	21m 12s	$534K	$398K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.258%Rate

Funding earned: $10.58
Price spread: −0.258% → −0.254%: −$0.31
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$2.72
Costs to cover: 0.130%
Break-even: 8.8 days

Slippage unknown: SunX: live order book, 7 min ago; Ondo Perps: 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 SunX live order book, 7 min ago	29.21 bp	110.7 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.32	−0.279%	$680K	$443K	10x	as long as short
Nado MSFT-PERP	−0.0012%	1h	503.45	−0.253%	$414K	$67K	20x	as long as short
BloFin MSFT-USDT	−0.0007%	8h	503.98	−0.149%	$192K	$203K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.16	−0.112%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.89	−0.167%	$335K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.02	−0.140%	$16.3M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.67	−0.210%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.09	−0.127%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.67	−0.210%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.78	−0.188%	$3.9M	$2.8M	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	503.92	−0.161%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.92	−0.160%	$19K	$316K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	504.73	long leg	$6K	$3.5M	20x
HTX MSFT-USDT	0.0000%	8h	503.78	−0.188%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.30	−0.085%	$2.2M	$844K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.53	−0.238%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.89	−0.166%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.71	−0.202%	$1.2M	$519K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.71	−0.202%	$700K	$1.9M	20x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	503.34	−0.275%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.68	−0.208%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.76	−0.192%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.37	−0.269%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.40	−0.264%	$303K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.71	−0.202%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	503.43	−0.258%	$534K	$398K	15x
Paradex MSFT-USD-PERP	+0.0056%	8h	503.75	−0.193%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.52	−0.240%	$1.6M	$120K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.42	−0.260%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.75	−0.194%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.88	−0.168%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.30	+0.113%	$116K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0227%	1h	503.78	−0.188%	$27K	$45K	10x	as long as short
edgeX MSFTUSDC	+0.0766%	4h	503.86	−0.172%	$102K	$243K	10x	as long as short