Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: OKX against ApeX Omni+0.077%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on ApeX Omni Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.196%−$20 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.077%, 7d avg +0.073%

Together, before fees−0.185%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.073%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSFTUSDT	503.91	0.0100	pay 0.0013% / 1h	25m 17s	$160K	$7K	50x
Short	OKX MSFT-USDT-SWAP	504.30	0	get 0.0000% / 8h	2h 25m	$3.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against ApeX Omni. 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 ApeX OmnibpFee OKXbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$21
Price spread: +0.077% → +0.073%: $0.42
Slippage, 4 orders: −$16.68
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$57.26
Costs to cover: 0.367%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 21 min ago; OKX: live order book, 2 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 ApeX Omni live order book, 21 min ago	5.08 bp	10.1 bp −$10	52.3 bp −$523	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.29 bp	7.7 bp −$8	18.9 bp −$189	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.98	+0.014%	$687K	$485K	10x	as long as short
Nado MSFT-PERP	−0.0034%	1h	504.11	+0.040%	$415K	$68K	20x	as long as short
BloFin MSFT-USDT	−0.0009%	8h	504.26	+0.069%	$189K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.06	+0.030%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.16	+0.050%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.30	+0.077%	$15.8M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.00	+0.018%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	504.30	+0.077%	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	503.97	+0.012%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.26	+0.069%	$3.8M	$3.0M	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	504.15	+0.047%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.79	−0.024%	$19K	$317K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.12	+0.240%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.04	+0.026%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.22	+0.062%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.48	+0.113%	$2.2M	$801K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.79	−0.024%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.07	+0.032%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.25	+0.067%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.79	−0.024%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.30	+0.077%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.88	−0.006%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.88	−0.006%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.17	+0.052%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.80	−0.022%	$518K	$471K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.19	+0.056%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.30	+0.077%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.52	−0.077%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDTlong	+0.0100%	1h	503.91	long leg	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.08	+0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.12	+0.041%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0192%	1h	503.67	−0.048%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.026%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0832%	4h	504.10	+0.037%	$103K	$242K	10x	as long as short