Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit+0.047%7-day average +0.034% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.002%$0 on $10k

Price spread, last 7 days+0.029%+$3 · spread now +0.047%, 7d avg +0.034%

Together, before fees+0.027%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSFTUSDT	503.36	0	get 0.0000% / 8h	15m 43s	$7.2M	$2.3M	100x
Short	Variational Omni MSFT	503.60	0	get 0.0000% / 8h	15m 43s	$1.3M	$403K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.034%: $1.3
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.7
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 2 min ago; Variational Omni: RFQ quote, 3 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 Bybit live order book, 2 min ago	1.69 bp	10.0 bp −$10	19.2 bp −$192	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.52 bp	doesn't fit	15.5 bp −$155	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
Nado MSFT-PERP	−0.0048%	1h	503.56	+0.040%	$415K	$67K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0028%	1h	503.39	+0.006%	$27K	$44K	10x	as long as short
BloFin MSFT-USDT	−0.0023%	8h	503.65	+0.058%	$191K	$206K	20x	as long as short
tradeXYZ xyz:MSFT	0.0000%	1h	503.19	−0.034%	$22.4M	$8.9M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.69	+0.065%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.46	+0.020%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.59	+0.045%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDTlong	0.0000%	8h	503.36	long leg	$7.2M	$2.3M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	503.66	+0.060%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.38	+0.004%	$3.1M	$1.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.62	+0.052%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	503.60	+0.047%	$1.3M	$403K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	503.58	+0.044%	$19K	$322K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.42	+0.211%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.16	−0.040%	$681K	$447K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.58	+0.044%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.76	+0.079%	$2.2M	$818K	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.61	+0.050%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.47	+0.022%	$708K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.52	+0.032%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.34	−0.004%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.79	+0.085%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.31	−0.010%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.52	+0.032%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.24	−0.024%	$513K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.59	+0.046%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	+0.004%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.91	−0.089%	$1.6M	$69K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.26	−0.020%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.55	+0.038%	$8K	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0104%	1h	503.23	−0.026%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.57	+0.042%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.86	+0.298%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0999%	4h	503.56	+0.040%	$102K	$244K	10x	as long as short