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 +0.025%

Price spread now: Orderly against Extended+0.003%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Orderly

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—+ Points / potential airdropExtended: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), 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	Extended MSFT_24_5-USD	504.01	0	get 0.0000% / 1h	2m 42s	$341K	$1.2M	17x
Short	Orderly PERP_MSFT_USDC_mythos	504.02	0.0100	get 0.0100% / 8h	2h 02m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now +0.003%Rate

Funding earned: $21
Price spread: +0.003% → 0.000%: $0.26
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $10.26
Costs to cover: 0.110%
Break-even: 3.6 days

Slippage unknown: Extended: live order book, 1 min ago; Orderly: 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 Extended live order book, 1 min ago	0.10 bp	5.6 bp −$6	30.9 bp −$309	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	−0.0418%	4h	504.10	+0.019%	$103K	$243K	10x	as long as short
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	−0.051%	$683K	$494K	10x	as long as short
Nado MSFT-PERP	−0.0013%	1h	503.80	−0.040%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.85	−0.031%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	504.01	long leg	$341K	$1.2M	17x
Binance MSFTUSDT	0.0000%	8h	504.15	+0.028%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.87	−0.027%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.10	+0.018%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.83	−0.035%	$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 MSFTUSDT	0.0000%	8h	504.15	+0.028%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.10	+0.018%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.25	+0.049%	$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	504.16	+0.030%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.35	+0.068%	$2.2M	$815K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0008%	1h	503.84	−0.033%	$27K	$43K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.97	−0.007%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0017%	8h	504.17	+0.032%	$188K	$207K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.91	−0.019%	$711K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.08	+0.014%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.89	−0.023%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.01	+0.001%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.67	−0.067%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.79	−0.043%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.00	−0.001%	$61K	$3K	10x	as long as short
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	503.97	−0.007%	$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	503.68	−0.065%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.77	−0.047%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	504.02	+0.003%	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	504.02	+0.003%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.48	+0.094%	$116K	$45K	30x	as long as short