Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0162%/8h= −17.7% APRpaid last 24h −0.050%

Price spread now: Paradex against Injective−0.098%7-day average — · you buy dearer than you sell

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

Long on Injective 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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Paradex is 0.098% cheaper against Injective than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSFT/USDC PERP	504.48	0.0220	pay 0.0028% / 1h	3m 22s	$116K	$45K	30x
Short	Paradex MSFT-USD-PERP	503.98	0.0058	get 0.0058% / 8h	2h 03m	$222	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Injective. 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 InjectivebpFee ParadexbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$33.93
Price spread: −0.098% → 0.000%: −$9.84
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$47.8
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Injective: live order book, 45 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 Injective live order book, 45 min ago	10.05 bp	10.1 bp −$10	10.1 bp −$101	65081.3 bp −$6.51M	365405.4 bp −$182.70M
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
edgeX MSFTUSDC	−0.0418%	4h	504.10	−0.075%	$103K	$243K	10x	as long as short
Hotstuff MSFT-PERP	−0.0064%	1h	503.68	−0.159%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.75	−0.145%	$683K	$494K	10x	as long as short
Nado MSFT-PERP	−0.0013%	1h	503.80	−0.134%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.85	−0.125%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.00	−0.096%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.15	−0.065%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.87	−0.121%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.10	−0.075%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.98	−0.099%	$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	−0.065%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.10	−0.076%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.25	−0.045%	$18K	$324K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.91	+0.085%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.02	−0.091%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.35	−0.026%	$2.2M	$815K	10x	as long as short
BloFin MSFT-USDT	+0.0006%	8h	504.19	−0.057%	$188K	$207K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0008%	1h	503.84	−0.127%	$27K	$43K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.97	−0.101%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.94	−0.107%	$711K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.07	−0.081%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.90	−0.115%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.01	−0.093%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.69	−0.157%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.79	−0.137%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.00	−0.095%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.83	−0.129%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0058%	8h	503.98	−0.098%	$222	—	5x
Lighter MSFT	+0.0088%	1h	504.14	−0.067%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.66	−0.163%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.77	−0.141%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.02	−0.091%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.02	−0.091%	$55	—	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	504.48	long leg	$116K	$45K	30x