Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.020%

Price spread now: Binance against Aevo+0.039%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 Binance

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—needs both histories

The price spread pays, funding is against you. Binance is 0.039% dearer against Aevo than usual: you sell high and buy low (spread +0.039% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 30 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSFT-PERP	503.48	0.0104	pay 0.0013% / 1h	42m 04s	$55	—	10x
Short	Binance MSFTUSDT	503.68	0	get 0.0000% / 8h	42m 04s	$15.8M	$19.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.039%Rate

Funding earned: −$21.84
Price spread: +0.039% → 0.000%: $3.94
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Binance: 5 bp × 2 orders: −$10
Net: −$43.9
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Binance: live order book, 14 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 Binance live order book, 14 min ago	0.40 bp	6.7 bp −$7	13.2 bp −$132	65.9 bp −$6,586	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
Nado MSFT-PERP	−0.0034%	1h	503.34	−0.029%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.33	−0.030%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.54	+0.012%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	503.68	+0.039%	$15.8M	$19.1M	20x
Bybit MSFTUSDT	0.0000%	8h	503.39	−0.019%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.80	+0.063%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.41	−0.015%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.64	+0.031%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.40	−0.017%	$1.3M	$414K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.62	+0.027%	$19K	$326K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	504.44	+0.190%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.34	−0.029%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.97	−0.102%	$682K	$454K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.59	+0.021%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.80	+0.063%	$2.2M	$820K	10x	as long as short
BloFin MSFT-USDT	+0.0027%	8h	503.68	+0.039%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.52	+0.007%	$1.2M	$522K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.39	−0.019%	$698K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.53	+0.009%	$1.2M	$4.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.31	−0.035%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.62	+0.027%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.15	−0.066%	$22.4M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.26	−0.045%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.47	−0.003%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.06	−0.084%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	503.49	0.000%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.31	−0.035%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	503.13	−0.070%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.03	−0.090%	$1.6M	$62K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.27	−0.043%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.45	−0.007%	$8K	—	10x	as long as short
Aevo MSFT-PERPlong	+0.0104%	1h	503.48	long leg	$55	—	10x
Injective MSFT/USDC PERP	+0.0220%	1h	504.82	+0.265%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0666%	4h	503.46	−0.005%	$102K	$244K	10x	as long as short