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 +0.003%

Price spread now: Variational Omni against SunX−0.171%7-day average −0.168% · you buy dearer than you sell

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

Long on SunX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now −0.171%, 7d avg −0.168%

Together, before fees−0.076%+ Points / potential airdropVariational Omni: Active · farm board−$8 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	502.34	0	get 0.0000% / 8h	4h 19m	$6K	$4.0M	20x
Short	Variational Omni MSFT	501.48	0	get 0.0000% / 8h	4h 19m	$1.3M	$615K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SunX. 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 SunXbpFee Variational OmnibpOrdersPrice spread, now −0.171%Rate

Funding earned: $0
Price spread: −0.171% → −0.168%: −$0.23
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.23
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 min ago; Variational Omni: RFQ quote, 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 SunX live order book, 9 min ago	29.37 bp	110.0 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.53 bp	doesn't fit	8.6 bp −$86	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	−0.0509%	4h	501.49	−0.170%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.273%	$678K	$455K	10x	as long as short
BloFin MSFT-USDT	−0.0027%	8h	501.53	−0.161%	$189K	$204K	20x	as long as short
Nado MSFT-PERP	−0.0007%	1h	501.29	−0.208%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.31	−0.205%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.47	−0.174%	$337K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.60	−0.147%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.20	−0.227%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.57	−0.153%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.31	−0.205%	$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	501.39	−0.189%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	501.48	−0.171%	$1.3M	$615K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	501.54	−0.159%	$19K	$302K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	502.34	long leg	$6K	$4.0M	20x
HTX MSFT-USDT	0.0000%	8h	501.52	−0.163%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.57	−0.153%	$2.2M	$768K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.31	−0.205%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.42	−0.183%	$1.2M	$5.3M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.24	−0.219%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.36	−0.195%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.19	−0.229%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.05	−0.257%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.19	−0.229%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.34	−0.199%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.07	−0.253%	$528K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.43	−0.181%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	501.05	−0.257%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.18	−0.231%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.21	−0.225%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.45	−0.177%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.47	−0.173%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0109%	1h	501.39	−0.189%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.54	−0.159%	$1.1M	$499K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.63	−0.141%	$115K	$45K	30x	as long as short