Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.016%

Price spread now: Orderly against Vest−0.006%52s7-day average — · you buy dearer than you sell

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

Long on Vest Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds 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. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSFT-USD-PERP	504.39	0.0046	pay 0.0006% / 1h	37m 22s	—	$1K	25x
Short	Orderly PERP_MSFT_USDC_mythos	504.36	0.0100	get 0.0100% / 8h	7h 37m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Vest. 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 VestbpFee OrderlybpOrdersPrice spread, now −0.006%Rate

Funding earned: $11.41
Price spread: −0.006% → 0.000%: −$0.59
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2.81
Costs to cover: 0.080%
Break-even: 5.3 days

Slippage unknown: Vest: 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 Vest no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Vest 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
Hotstuff MSFT-PERP	−0.0168%	1h	503.92	−0.093%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.83	−0.111%	$682K	$494K	10x	as long as short
Nado MSFT-PERP	−0.0055%	1h	504.16	−0.046%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.38	−0.001%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.37	−0.005%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.45	+0.012%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.13	−0.052%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.51	+0.024%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.22	−0.034%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.45	+0.012%	$3.9M	$2.9M	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 MSFT	0.0000%	8h	504.05	−0.067%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.34	−0.010%	$18K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.31	+0.182%	$6K	$3.6M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.40	+0.002%	$59K	$224K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.80	+0.081%	$2.2M	$829K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.13	−0.052%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	504.56	+0.034%	$191K	$205K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.30	−0.018%	$1.1M	$4.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.25	−0.028%	$1.2M	$511K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.23	−0.032%	$696K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.18	−0.042%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERPlong	+0.0046%	1h	504.39	long leg	—	$1K	25x
tradeXYZ xyz:MSFT	+0.0050%	1h	503.79	−0.119%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.67	−0.143%	$303K	$654K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.28	−0.022%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.11	−0.056%	$514K	$411K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.27	−0.024%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.94	−0.089%	$1.6M	$106K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.91	−0.095%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	504.36	−0.006%	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	504.24	−0.030%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0147%	1h	504.33	−0.012%	$27K	$44K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.94	+0.307%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0695%	4h	504.34	−0.010%	$103K	$243K	10x	as long as short