Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Bitget against Aevo+0.015%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 Bitget

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo MSFT-PERP	502.06	0.0104	pay 0.0013% / 1h	43m 31s	$55	—	10x
Short	Bitget MSFTUSDT	502.13	0	get 0.0000% / 8h	1h 43m	$3.8M	$2.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$21.84
Price spread: +0.015% → 0.000%: $1.46
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$48.38
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Bitget: live order book, 4 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 Bitget live order book, 4 min ago	1.89 bp	9.4 bp −$9	13.0 bp −$130	45.3 bp −$4,534	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
Aster MSFTUSDT	0.0000%	8h	502.01	−0.009%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.03	−0.005%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.09	+0.007%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.12	+0.013%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.83	−0.045%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	502.13	+0.015%	$3.8M	$2.2M	100x
Variational Omni MSFT	0.0000%	8h	502.02	−0.008%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.09	+0.007%	$18K	$319K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.92	+0.172%	$6K	$4.4M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.095%	$688K	$449K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MSFT-USDT	0.0000%	8h	502.05	−0.001%	$59K	$229K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.33	+0.054%	$2.2M	$768K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	501.58	−0.095%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0012%	8h	502.11	+0.011%	$7.4M	$1.7M	100x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	502.13	+0.015%	$188K	$210K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.85	−0.041%	$653K	$2.1M	20x	as long as short
Nado MSFT-PERP	+0.0035%	1h	501.53	−0.105%	$414K	$64K	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.92	−0.027%	$1.2M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.91	−0.029%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.59	−0.093%	$22.3M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.58	−0.095%	$305K	$684K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.06	+0.001%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.64	−0.083%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0061%	8h	501.90	−0.031%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.76	−0.059%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.59	−0.093%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.73	−0.065%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.01	−0.009%	$8K	—	10x	as long as short
Aevo MSFT-PERPlong	+0.0104%	1h	502.06	long leg	$55	—	10x
Lighter MSFT	+0.0144%	1h	502.01	−0.009%	$1.1M	$589K	20x	as long as short
edgeX MSFTUSDC	+0.0155%	4h	502.08	+0.005%	$102K	$244K	10x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.87	−0.037%	$110K	$90K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.17	+0.222%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0368%	1h	501.81	−0.049%	$27K	$103K	10x	as long as short