Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.007%

Price spread now: Paradex against Extended−0.012%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 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 · Paradex: 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: +$2 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	501.24	0	get 0.0000% / 1h	40m 01s	$342K	$894K	17x
Short	Paradex MSFT-USD-PERP	501.18	0.0050	get 0.0050% / 8h	6h 40m	$221	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.012%Rate

Funding earned: $10.6
Price spread: −0.012% → 0.000%: −$1.18
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: $0.43
Costs to cover: 0.090%
Break-even: 6.7 days

Slippage unknown: Extended: live order book, 28 min ago; Paradex: 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, 28 min ago	0.70 bp	6.0 bp −$6	38.6 bp −$386	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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	−0.0040%	1h	500.90	−0.068%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	−0.0028%	8h	501.33	+0.018%	$189K	$204K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.87	−0.074%	$684K	$451K	10x	as long as short
Nado MSFT-PERP	−0.0016%	1h	501.04	−0.040%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.49	+0.050%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.24	long leg	$342K	$894K	17x
Binance MSFTUSDT	0.0000%	8h	501.36	+0.024%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.20	−0.008%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.34	+0.020%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.03	−0.042%	$3.1M	$1.6M	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	501.31	+0.014%	$4.3M	$2.4M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.10	−0.029%	$1.3M	$677K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.20	−0.007%	$19K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.12	+0.175%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.05	−0.038%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.53	+0.058%	$2.2M	$758K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.17	−0.014%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.24	0.000%	$1.2M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.05	−0.038%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.12	−0.024%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	501.17	−0.014%	$27K	$41K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.90	−0.068%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.95	−0.058%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.18	−0.012%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.93	−0.062%	$513K	$511K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0050%	8h	501.18	−0.012%	$221	—	5x
Phoenix MSFT	+0.0080%	1h	501.10	−0.028%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.95	−0.058%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.67	−0.114%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.22	−0.004%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.24	0.000%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.44	+0.040%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.56	+0.064%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0251%	4h	501.21	−0.006%	$102K	$241K	10x	as long as short