Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0141%/8h= −15.4% APRpaid last 24h −0.004%

Price spread now: tradeXYZ against Paradex−0.066%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on tradeXYZ

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 · tradeXYZ: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and tradeXYZ is 0.066% cheaper against Paradex than usual: you would sell low and buy high (−$7 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	Paradex MSFT-USD-PERP	501.19	0.0051	pay 0.0051% / 8h	6h 59m	$221	—	5x
Short	tradeXYZ xyz:MSFT	500.86	−0.0090	pay 0.0011% / 1h	59m 29s	$22.1M	$9.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Paradex. 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 ParadexbpFee tradeXYZbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$29.6
Price spread: −0.066% → 0.000%: −$6.56
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$58.16
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; tradeXYZ: live order book, 10 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 Paradex no order-book sample	—	—	—	—	—
Sell tradeXYZ live order book, 10 min ago	0.50 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit

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
tradeXYZ xyz:MSFTshort	−0.0090%	1h	500.86	−0.066%	$22.1M	$9.2M	20x
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	500.76	−0.086%	$684K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.49	+0.061%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.18	−0.003%	$342K	$905K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.33	+0.028%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.21	+0.004%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.21	+0.004%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.08	−0.022%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.37	+0.036%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.26	+0.014%	$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	501.40	+0.043%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.04	+0.170%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.89	−0.060%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.22	+0.006%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.45	+0.052%	$2.2M	$758K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.37	+0.036%	$188K	$205K	20x	as long as short
Nado MSFT-PERP	+0.0005%	1h	501.20	+0.002%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.14	−0.010%	$617K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.19	0.000%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.28	+0.018%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	500.84	−0.070%	$32K	$8K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.88	−0.062%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.09	−0.020%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.78	−0.082%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERPlong	+0.0051%	8h	501.19	long leg	$221	—	5x
Phoenix MSFT	+0.0080%	1h	501.05	−0.028%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.20	+0.002%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.82	−0.074%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.06	−0.026%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.33	+0.028%	$1.1M	$485K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.08	−0.022%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0163%	4h	501.29	+0.020%	$102K	$243K	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.11	−0.016%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.114%	$115K	$45K	30x	as long as short