Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Aster against Aevo+0.062%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.062% dearer against Aevo than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSFT-PERP	501.70	0.0104	pay 0.0013% / 1h	34m 19s	$55	—	10x
Short	Aster MSFTUSDT	502.01	0	get 0.0000% / 8h	2h 34m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Aevo. 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 AevobpFee AsterbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$21.84
Price spread: +0.062% → 0.000%: $6.17
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.67
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Aster: live order book, 51 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 Aevo no order-book sample	—	—	—	—	—
Sell Aster live order book, 51 min ago	10.75 bp	15.8 bp −$16	113.1 bp −$1,131	doesn't fit	doesn't fit

Aevo: 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
edgeX MSFTUSDC	−0.0982%	4h	501.67	−0.007%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0044%	1h	501.50	−0.040%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.71	+0.002%	$689K	$431K	10x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	501.43	−0.054%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	−0.0004%	8h	501.78	+0.016%	$189K	$209K	20x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	502.01	+0.062%	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.60	−0.019%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.66	−0.008%	$15.7M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.79	+0.018%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.61	−0.018%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.41	−0.058%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.72	+0.004%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.64	−0.012%	$1.3M	$726K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.60	−0.020%	$18K	$330K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.52	+0.163%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.65	−0.010%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.62	−0.016%	$58K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.84	+0.028%	$2.2M	$759K	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.71	+0.002%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.61	−0.018%	$666K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.68	−0.004%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.43	−0.054%	$22.2M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.25	−0.090%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.68	−0.004%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.65	−0.010%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.25	−0.090%	$515K	$479K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.69	−0.002%	$1.2M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.42	−0.056%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.53	−0.034%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.25	−0.090%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.62	−0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERPlong	+0.0104%	1h	501.70	long leg	$55	—	10x
Injective MSFT/USDC PERP	+0.0220%	1h	501.96	+0.052%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.57	−0.026%	$109K	$90K	10x	as long as short