Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Orderly against SoDEX+0.014%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Orderly

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—needs 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: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSFT-USD	501.24	0.0050	pay 0.0006% / 1h	44m 04s	$60K	$3K	10x
Short	Orderly PERP_MSFT_USDC_mythos	501.31	0.0100	get 0.0100% / 8h	3h 44m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against SoDEX. 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 SoDEXbpFee OrderlybpOrdersPrice spread, now +0.014%Rate

Funding earned: $10.5
Price spread: +0.014% → 0.000%: $1.4
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.1
Costs to cover: 0.140%
Break-even: 8.4 days

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

SoDEX and 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	−0.0253%	4h	501.35	+0.021%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0116%	1h	501.29	+0.010%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.054%	$677K	$450K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0016%	1h	500.97	−0.054%	$22.1M	$8.7M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.27	+0.007%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.31	+0.014%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.45	+0.042%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.17	−0.014%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.54	+0.060%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.24	0.000%	$3.1M	$1.7M	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	501.30	+0.012%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.34	+0.019%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.14	−0.020%	$19K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.17	+0.186%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.18	−0.012%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.35	+0.022%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.52	+0.056%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0006%	8h	501.40	+0.032%	$189K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.43	+0.038%	$1.1M	$503K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.18	−0.012%	$676K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	500.97	−0.054%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.30	+0.012%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.10	−0.028%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.34	+0.020%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	−0.034%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.02	−0.044%	$302K	$697K	10x	as long as short
SoDEX MSFT-USDlong	+0.0050%	1h	501.24	long leg	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	−0.046%	$518K	$452K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.31	+0.013%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.76	−0.096%	$1.6M	$52K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.15	−0.018%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	501.31	+0.014%	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	501.33	+0.018%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.54	+0.060%	$115K	$45K	30x	as long as short