Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.077%

Price spread now: Arcus against Variational Omni−0.048%7-day average −0.035% · you buy dearer than you sell

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.141%+$14 on $10k

Price spread, last 4 days (all we have)−0.137%−$14 · spread now −0.048%, 7d avg −0.035%

Together, before fees+0.003%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSFT	501.48	0	get 0.0000% / 8h	4h 19m	$1.3M	$615K	—
Short	Arcus MSFT-USD	501.24	0.0040	get 0.0005% / 1h	19m 34s	$96K	$111K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Variational Omni. 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 Variational OmnibpFee ArcusbpOrdersPrice spread, now −0.048%Rate

Funding earned: $8.46
Price spread: −0.048% → −0.035%: −$1.34
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $2.62
Costs to cover: 0.045%
Break-even: 4.8 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Arcus: live order book, 38 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 Variational Omni RFQ quote, 5 min ago	2.53 bp	doesn't fit	17.7 bp −$177	doesn't fit	doesn't fit
Sell Arcus live order book, 38 min ago	3.29 bp	11.0 bp −$11	13.2 bp −$132	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	+0.001%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.102%	$678K	$455K	10x	as long as short
BloFin MSFT-USDT	−0.0007%	8h	501.57	+0.018%	$189K	$204K	20x	as long as short
Nado MSFT-PERP	−0.0007%	1h	501.29	−0.038%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.31	−0.034%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.45	−0.007%	$337K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.58	+0.019%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.20	−0.056%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.57	+0.018%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.30	−0.036%	$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	−0.018%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFTlong	0.0000%	8h	501.48	long leg	$1.3M	$615K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	501.54	+0.012%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.34	+0.171%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.37	−0.022%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.54	+0.012%	$2.2M	$772K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.31	−0.034%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.42	−0.012%	$1.2M	$5.3M	10x	as long as short
Arcus MSFT-USDshort	+0.0040%	1h	501.24	−0.048%	$96K	$111K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	501.36	−0.024%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.19	−0.058%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.05	−0.086%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.19	−0.058%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.32	−0.032%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.07	−0.082%	$528K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.43	−0.010%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	501.05	−0.086%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.17	−0.062%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.21	−0.054%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.45	−0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	−0.007%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0109%	1h	501.39	−0.018%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.54	+0.012%	$1.1M	$499K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.63	+0.029%	$115K	$45K	30x	as long as short