Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.003%

Price spread now: Paradex against tradeXYZ+0.067%7-day average — · you sell dearer than you buy

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

Long on tradeXYZ Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 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 · Paradex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Paradex is 0.067% dearer against tradeXYZ than usual: you sell high and buy low: +$7 more if the spread 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	tradeXYZ xyz:MSFT	500.96	0.0050	pay 0.0006% / 1h	21m 29s	$22.1M	$8.9M	20x
Short	Paradex MSFT-USD-PERP	501.30	0.0059	get 0.0059% / 8h	5h 21m	$221	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against tradeXYZ. 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 tradeXYZbpFee ParadexbpOrdersPrice spread, now +0.067%Rate

Funding earned: $1.96
Price spread: +0.067% → 0.000%: $6.71
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$13.32
Costs to cover: 0.220%
Break-even: 54.5 days

Slippage unknown: tradeXYZ: live order book, 6 min ago; Paradex: 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 tradeXYZ live order book, 6 min ago	0.10 bp	9.5 bp −$10	11.9 bp −$119	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0136%	4h	501.41	+0.091%	$102K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.91	−0.010%	$678K	$457K	10x	as long as short
Hotstuff MSFT-PERP	−0.0048%	1h	500.99	+0.006%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0037%	1h	501.16	+0.040%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0003%	8h	501.40	+0.088%	$189K	$203K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.45	+0.099%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.31	+0.069%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.44	+0.096%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.26	+0.060%	$7.3M	$1.8M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.53	+0.114%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.28	+0.064%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.47	+0.102%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.44	+0.096%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.37	+0.083%	$19K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.19	+0.246%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.06	+0.020%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.24	+0.056%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.32	+0.072%	$2.2M	$770K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.27	+0.062%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.23	+0.054%	$685K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.17	+0.042%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.25	+0.058%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTlong	+0.0050%	1h	500.96	long leg	$22.1M	$8.9M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	500.99	+0.006%	$301K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.33	+0.074%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	+0.010%	$516K	$494K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0059%	8h	501.30	+0.067%	$221	—	5x
Phoenix MSFT	+0.0064%	1h	501.05	+0.018%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.22	+0.052%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.92	−0.008%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.22	+0.052%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.21	+0.051%	$55	—	10x	as long as short
Lighter MSFT	+0.0176%	1h	501.55	+0.118%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.86	+0.180%	$115K	$45K	30x	as long as short