Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0223%/8h= −24.4% APRpaid last 24h +0.066%

Price spread now: edgeX against Variational Omni+0.010%7-day average +0.002% · you sell dearer than you buy

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

Long on Variational Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.002%$0 · spread now +0.010%, 7d avg +0.002%

Together, before fees+0.062%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.002%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.064% in total (about 7.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSFT	502.00	0	get 0.0000% / 8h	19m 06s	$1.3M	$692K	—
Short	edgeX MSFTUSDC	502.05	−0.0223	pay 0.0112% / 4h	19m 06s	$102K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$46.85
Price spread: +0.010% → +0.002%: $0.87
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$54.98
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; edgeX: live order book, 58 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	2.74 bp	doesn't fit	12.7 bp −$127	doesn't fit	doesn't fit
Sell edgeX live order book, 58 min ago	5.48 bp	10.1 bp −$10	12.4 bp −$124	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 MSFTUSDCshort	−0.0223%	4h	502.05	+0.010%	$102K	$243K	10x
Nado MSFT-PERP	−0.0021%	1h	501.84	−0.032%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0018%	8h	502.00	+0.001%	$188K	$209K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.047%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.16	+0.033%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.92	−0.016%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.02	+0.004%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.14	+0.028%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.75	−0.049%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.02	+0.005%	$3.8M	$2.3M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFTlong	0.0000%	8h	502.00	long leg	$1.3M	$692K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	502.05	+0.010%	$19K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.79	+0.158%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.76	−0.047%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.90	−0.019%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.27	+0.054%	$2.2M	$748K	10x	as long as short
Bybit MSFTUSDT	+0.0031%	8h	502.09	+0.018%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.93	−0.013%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.96	−0.007%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.90	−0.019%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.62	−0.075%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.62	−0.075%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.93	−0.013%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.67	−0.065%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.96	−0.006%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	501.75	−0.049%	$32K	$8K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.79	−0.041%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.50	−0.099%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.77	−0.045%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.93	−0.013%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.98	−0.003%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.13	+0.026%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.46	+0.092%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.94	−0.011%	$97K	$109K	10x	as long as short