Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0685%/8h= +75.0% APRpaid last 24h +0.091%

Price spread now: ApeX Omni against edgeX−0.066%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$400.400% of the position

Long on edgeX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.066%, 7d avg −0.070%

Together, before fees+0.228%+ Points / potential airdropedgeX: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.070%, so right now this pair is about funding alone: +$21 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.180% in total (about 9.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	503.54	−0.0585	get 0.0293% / 4h	3m 04s	$102K	$243K	10x
Short	ApeX Omni MSFTUSDT	503.21	0.0100	get 0.0013% / 1h	3m 04s	$160K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against edgeX. 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 edgeXbpFee ApeX OmnibpOrdersPrice spread, now −0.066%Rate

Funding earned: $143.86
Price spread: −0.066% → −0.070%: $0.48
Slippage, 4 orders: −$21.03
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $104.31
Costs to cover: 0.400%
Break-even: 1.9 days

Slippage from edgeX: live order book, 34 min ago; ApeX Omni: live order book, 33 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 edgeX live order book, 34 min ago	5.26 bp	10.0 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 33 min ago	5.07 bp	10.1 bp −$10	58.8 bp −$588	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
edgeX MSFTUSDClong	−0.0585%	4h	503.54	long leg	$102K	$243K	10x
Nado MSFT-PERP	−0.0057%	1h	503.48	−0.012%	$414K	$67K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0010%	1h	503.03	−0.101%	$22.4M	$8.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0008%	1h	503.28	−0.052%	$27K	$44K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.50	−0.008%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.45	−0.018%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.58	+0.008%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.30	−0.048%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.55	+0.002%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.34	−0.040%	$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	503.50	−0.008%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.54	−0.001%	$1.3M	$401K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.57	+0.006%	$18K	$321K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.34	+0.159%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.07	−0.093%	$687K	$454K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.46	−0.016%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.72	+0.036%	$2.2M	$817K	10x	as long as short
BloFin MSFT-USDT	+0.0008%	8h	503.57	+0.006%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.50	−0.008%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.37	−0.034%	$706K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.54	0.000%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.28	−0.052%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.64	+0.020%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.22	−0.064%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.35	−0.038%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.14	−0.080%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.44	−0.020%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.052%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	503.14	−0.080%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.03	−0.101%	$1.6M	$79K	20x	as long as short
ApeX Omni MSFTUSDTshort	+0.0100%	1h	503.21	−0.066%	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.41	−0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.42	−0.023%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.80	+0.052%	$115K	$45K	30x	as long as short