Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: Extended against Orderly+0.017%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Extended

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	Orderly PERP_MSFT_USDC_mythos	503.55	0.0100	pay 0.0100% / 8h	1h 13m	$8K	—	10x
Short	Extended MSFT_24_5-USD	503.63	0	get 0.0000% / 1h	13m 03s	$338K	$1.2M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$21
Price spread: +0.017% → 0.000%: $1.68
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$30.32
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 5 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 5 min ago	0.10 bp	5.2 bp −$5	33.8 bp −$338	doesn't fit	doesn't fit

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	−0.0160%	4h	503.60	+0.011%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.022%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.48	−0.014%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	503.63	+0.017%	$338K	$1.2M	17x
Binance MSFTUSDT	0.0000%	8h	503.78	+0.046%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.53	−0.004%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.85	+0.060%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.54	−0.002%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.67	+0.024%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	+0.011%	$1.3M	$499K	—	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	503.74	+0.037%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.48	+0.185%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.37	−0.036%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.70	+0.030%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.75	+0.040%	$2.2M	$822K	10x	as long as short
Nado MSFT-PERP	+0.0024%	1h	503.39	−0.031%	$414K	$67K	20x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	503.80	+0.050%	$190K	$207K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.52	−0.006%	$700K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.61	+0.012%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.39	−0.032%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.69	+0.028%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.23	−0.064%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.34	−0.042%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.59	+0.008%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.19	−0.071%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	503.56	+0.002%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.054%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.11	−0.087%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.15	−0.079%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythoslong	+0.0100%	8h	503.55	long leg	$8K	—	10x
Hotstuff MSFT-PERP	+0.0104%	1h	503.19	−0.071%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.65	+0.019%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	503.77	+0.044%	$1.2M	$517K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.097%	$115K	$45K	30x	as long as short