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: SunX against OKX+0.143%7-day average +0.167% · you sell dearer than you buy

Net, funding: paid 7d − costs−$237as in the Funding arb table

Net, price: spread back to 7d avg − costs−$238as in the Price arb table

costs, in and out, $10k−$2362.357% of the position

Long on OKX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now +0.143%, 7d avg +0.167%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.024% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.167%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	501.81	0	get 0.0000% / 8h	7h 24m	$3.0M	$2.3M	20x
Short	SunX MSFT-USDT	502.53	0	get 0.0000% / 8h	7h 24m	$6K	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against OKX. 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 OKXbpFee SunXbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → +0.167%: −$2.36
Slippage, 4 orders: −$217.72
Fee OKX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$238.07
Costs to cover: 2.357%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; SunX: live order book, 4 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 OKX live order book, 3 min ago	0.10 bp	8.0 bp −$8	15.2 bp −$152	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	29.13 bp	105.7 bp −$106	doesn't fit	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 MSFTUSDC	−0.0298%	4h	502.10	+0.057%	$102K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.13	−0.136%	$679K	$446K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.82	+0.003%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.65	−0.032%	$337K	$1.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.73	−0.016%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.65	−0.032%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	501.81	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.48	−0.066%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.72	−0.018%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.86	+0.010%	$1.3M	$690K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	502.02	+0.042%	$18K	$289K	10x	as long as short
SunX MSFT-USDTshort	0.0000%	8h	502.53	+0.143%	$6K	$4.1M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.53	−0.056%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.62	−0.038%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.73	−0.016%	$2.2M	$757K	10x	as long as short
Nado MSFT-PERP	+0.0003%	1h	501.55	−0.051%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	+0.0008%	8h	501.96	+0.030%	$187K	$205K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.57	−0.048%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.64	−0.034%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.66	−0.030%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.32	−0.098%	$22.3M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.33	−0.096%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.62	−0.038%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.49	−0.064%	$528K	$489K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.69	−0.025%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.70	−0.022%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0096%	1h	501.76	−0.010%	$1.1M	$486K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.60	−0.042%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.56	−0.050%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.67	−0.028%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.63	−0.035%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0144%	1h	501.42	−0.078%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.78	−0.006%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.00	+0.038%	$115K	$45K	30x	as long as short