Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: SunX against Aevo+0.201%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on SunX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.201% dearer against Aevo than usual: you sell high and buy low (spread +0.201% now, against zero (this spread has no 7-day history yet)): +$20 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSFT-PERP	501.20	0.0104	pay 0.0013% / 1h	2m 27s	$55	—	10x
Short	SunX MSFT-USDT	502.21	0	get 0.0000% / 8h	7h 02m	$6K	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Aevo. 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 AevobpFee SunXbpOrdersPrice spread, now +0.201%Rate

Funding earned: −$21.84
Price spread: +0.201% → 0.000%: $20.09
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee SunX: 4 bp × 2 orders: −$8
Net: −$25.75
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; SunX: live order book, 6 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 Aevo no order-book sample	—	—	—	—	—
Sell SunX live order book, 6 min ago	29.27 bp	104.6 bp −$105	doesn't fit	doesn't fit	doesn't fit

Aevo: 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	−0.0047%	4h	501.37	+0.033%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	500.76	−0.088%	$684K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.41	+0.040%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.21	+0.001%	$342K	$905K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.32	+0.023%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.19	−0.003%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.28	+0.015%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.22	+0.003%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.37	+0.033%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.37	+0.034%	$1.3M	$690K	—	as long as short

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	501.46	+0.052%	$19K	$293K	10x	as long as short
SunX MSFT-USDTshort	0.0000%	8h	502.21	+0.201%	$6K	$4.1M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.04	−0.033%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.27	+0.013%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.49	+0.057%	$2.2M	$759K	10x	as long as short
Nado MSFT-PERP	+0.0009%	1h	501.10	−0.020%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	501.32	+0.023%	$188K	$205K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.17	−0.007%	$617K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.29	+0.017%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.24	+0.007%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.91	−0.059%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.93	−0.055%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	+0.001%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.98	−0.045%	$514K	$504K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.18	−0.005%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.09	−0.023%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.19	−0.003%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.14	−0.013%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.22	+0.003%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.41	+0.041%	$1.1M	$486K	20x	as long as short
Aevo MSFT-PERPlong	+0.0104%	1h	501.20	long leg	$55	—	10x
Hotstuff MSFT-PERP	+0.0144%	1h	500.85	−0.070%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.18	−0.005%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.111%	$115K	$45K	30x	as long as short