Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni−0.036%97s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1651.654% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$5 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now −0.036%, 7d avg −0.001%

Together, before fees−0.003%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.035% cheaper against ApeX Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.001%. The two prices were read 97 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	ApeX Omni MSFTUSDT	501.77	0.0100	pay 0.0013% / 1h	19m 52s	$160K	$7K	50x
Short	KuCoin MSFTUSDTM	501.59	0.0100	get 0.0100% / 8h	19m 52s	$1.5M	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX 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 ApeX OmnibpFee KuCoinbpOrdersPrice spread, now −0.036%Rate

Funding earned: $0
Price spread: −0.036% → −0.001%: −$3.47
Slippage, 4 orders: −$143.37
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$168.84
Costs to cover: 1.654%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 56 min ago; KuCoin: live order book, 6 min ago.

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 ApeX Omni live order book, 56 min ago	5.08 bp	10.1 bp −$10	69.3 bp −$693	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	7.08 bp	72.5 bp −$73	doesn't fit	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 MSFTUSDC	−0.0223%	4h	502.05	+0.056%	$102K	$243K	10x	as long as short
BloFin MSFT-USDT	−0.0029%	8h	502.08	+0.062%	$188K	$209K	20x	as long as short
Nado MSFT-PERP	−0.0019%	1h	501.83	+0.013%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.002%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.19	+0.083%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.95	+0.035%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.02	+0.050%	$15.7M	$19.0M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.14	+0.074%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.77	0.000%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.07	+0.060%	$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 MSFT	0.0000%	8h	502.00	+0.045%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.05	+0.055%	$19K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.79	+0.203%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.79	+0.004%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.82	+0.010%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.23	+0.092%	$2.2M	$747K	10x	as long as short
Bybit MSFTUSDT	+0.0031%	8h	502.16	+0.078%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.94	+0.034%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.93	+0.032%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.05	+0.056%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.62	−0.030%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.63	−0.028%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.94	+0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.67	−0.020%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.98	+0.042%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.79	+0.004%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.74	−0.006%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	501.59	−0.036%	$1.5M	$19K	20x
ApeX Omni MSFTUSDTlong	+0.0100%	1h	501.77	long leg	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.99	+0.044%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.97	+0.039%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	502.15	+0.076%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.46	+0.138%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.95	+0.036%	$97K	$109K	10x	as long as short