Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: SoDEX against Ondo Perps+0.050%7-day average — · you sell dearer than you buy

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

Long on Ondo Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SoDEX is 0.050% dearer against Ondo Perps than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MSFT-USD.P	501.50	0.0050	pay 0.0006% / 1h	14m 14s	$529K	$493K	15x
Short	SoDEX MSFT-USD	501.75	0.0050	get 0.0006% / 1h	14m 14s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Ondo Perps. 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 Ondo PerpsbpFee SoDEXbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$0.08
Price spread: +0.050% → 0.000%: $4.99
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$8.1
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; SoDEX: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Ondo Perps and SoDEX: 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
Nado MSFT-PERP	−0.0025%	1h	501.67	+0.034%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0019%	8h	501.85	+0.070%	$188K	$209K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.052%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.06	+0.111%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.76	+0.051%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.84	+0.068%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.05	+0.110%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.62	+0.024%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.87	+0.074%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.88	+0.076%	$1.3M	$692K	—	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	501.94	+0.088%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.58	+0.215%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.64	+0.028%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.70	+0.040%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.95	+0.090%	$2.2M	$749K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.49	−0.002%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0030%	8h	501.97	+0.094%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.75	+0.050%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.81	+0.062%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.84	+0.068%	$1.1M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.58	+0.016%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.53	+0.006%	$303K	$678K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	501.75	+0.050%	$60K	$3K	10x
Ondo Perps MSFT-USD.Plong	+0.0050%	1h	501.50	long leg	$529K	$493K	15x
Paradex MSFT-USD-PERP	+0.0052%	8h	501.78	+0.055%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.77	+0.054%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.32	−0.036%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.48	−0.004%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.74	+0.048%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.76	+0.053%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.94	+0.088%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.46	+0.191%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0235%	4h	501.91	+0.082%	$102K	$244K	10x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.74	+0.048%	$97K	$109K	10x	as long as short