Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.013%

Price spread now: OKX against tradeXYZ+0.084%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on tradeXYZ Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 7 days+0.033%+$3 · spread now +0.084%, 7d avg +0.125%

Together, before fees−0.019%+ Points / potential airdroptradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.041% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.125%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSFT	501.37	0.0050	pay 0.0006% / 1h	14m 37s	$22.1M	$9.3M	20x
Short	OKX MSFT-USDT-SWAP	501.79	0	get 0.0000% / 8h	6h 14m	$3.0M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against tradeXYZ. 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 tradeXYZbpFee OKXbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$10.5
Price spread: +0.084% → +0.125%: −$4.09
Slippage, 4 orders: −$9.07
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$51.66
Costs to cover: 0.371%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; OKX: live order book, 3 min ago.

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 tradeXYZ live order book, 4 min ago	0.40 bp	9.7 bp −$10	12.0 bp −$120	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.10 bp	9.7 bp −$10	18.2 bp −$182	doesn't fit	doesn't fit

MSFT on 33 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
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.22	−0.030%	$679K	$457K	10x	as long as short
Nado MSFT-PERP	−0.0006%	1h	501.52	+0.030%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.82	+0.089%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.59	+0.043%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.70	+0.066%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.72	+0.070%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	501.79	+0.084%	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.59	+0.044%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.67	+0.060%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.63	+0.051%	$1.3M	$682K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.75	+0.076%	$18K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.46	+0.217%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.84	+0.094%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.00	+0.126%	$2.2M	$765K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.54	+0.034%	$629K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.54	+0.034%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.49	+0.024%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.71	+0.068%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTlong	+0.0050%	1h	501.37	long leg	$22.1M	$9.3M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	501.30	−0.014%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.62	+0.050%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.23	−0.028%	$522K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.59	+0.043%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.60	+0.046%	$10K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	501.62	+0.050%	$27K	$41K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.33	−0.008%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.29	−0.016%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.63	+0.052%	$8K	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0104%	1h	501.39	+0.004%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.58	+0.042%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.78	+0.082%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.082%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0345%	4h	501.68	+0.061%	$102K	$243K	10x	as long as short