Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Bitget−0.024%59s7-day average — · you buy dearer than you sell

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

Long on Bitget Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. SoDEX is 0.024% cheaper against Bitget than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 38 hours of funding at the current rate (+$2 a day). The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	504.01	0	get 0.0000% / 8h	2h 01m	$3.8M	$3.0M	100x
Short	SoDEX MSFT-USD	503.89	0.0050	get 0.0006% / 1h	1m 25s	$61K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bitget. 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 BitgetbpFee SoDEXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $10.5
Price spread: −0.024% → 0.000%: −$2.38
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$11.88
Costs to cover: 0.200%
Break-even: 14.9 days

Slippage unknown: Bitget: live order book, 1 min ago; SoDEX: 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 Bitget live order book, 1 min ago	1.88 bp	11.1 bp −$11	14.7 bp −$147	37.7 bp −$3,771	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Hotstuff MSFT-PERP	−0.0064%	1h	503.68	−0.065%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.75	−0.052%	$683K	$494K	10x	as long as short
edgeX MSFTUSDC	−0.0016%	4h	504.07	+0.011%	$103K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0011%	1h	503.79	−0.043%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.81	−0.040%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.00	−0.003%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.10	+0.018%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.88	−0.026%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.26	+0.050%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.83	−0.036%	$3.1M	$1.8M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDTlong	0.0000%	8h	504.01	long leg	$3.8M	$3.0M	100x
Variational Omni MSFT	0.0000%	8h	504.10	+0.017%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.20	+0.038%	$18K	$324K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.91	+0.179%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.98	−0.006%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.32	+0.062%	$2.2M	$815K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.97	−0.008%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0017%	8h	504.17	+0.032%	$188K	$207K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0028%	1h	503.83	−0.036%	$27K	$43K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.92	−0.018%	$711K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.07	+0.012%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.88	−0.026%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.99	−0.004%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.65	−0.071%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.75	−0.052%	$303K	$717K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	503.89	−0.024%	$61K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.68	−0.065%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	503.98	−0.006%	$222	—	5x	as long as short
Lighter MSFT	+0.0096%	1h	504.12	+0.022%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.61	−0.079%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.77	−0.048%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.96	−0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.02	+0.002%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.48	+0.093%	$116K	$45K	30x	as long as short