Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Aster−0.028%89s7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as 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−$610.608% of the position

Long on Aster Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.184%+$18 on $10k

Price spread, last 4 days (all we have)−0.109%−$11 · spread now −0.028%, 7d avg −0.087%

Together, before fees+0.076%+ Points / potential airdropAster: Stage 5 · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.059% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.087%. The two prices were read 89 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	Aster MSFTUSDT	503.55	0	get 0.0000% / 8h	7h 57m	$162K	$114K	20x
Short	ApeX Omni MSFTUSDT	503.41	0.0100	get 0.0013% / 1h	57m 56s	$160K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Aster. 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 AsterbpFee ApeX OmnibpOrdersPrice spread, now −0.028%Rate

Funding earned: $21
Price spread: −0.028% → −0.087%: $5.94
Slippage, 4 orders: −$42.78
Fee Aster: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$33.84
Costs to cover: 0.608%
Break-even: 18.3 days

Slippage from Aster: live order book, 38 min ago; ApeX Omni: live order book, 38 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 Aster live order book, 38 min ago	14.98 bp	19.6 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 38 min ago	5.07 bp	10.1 bp −$10	58.8 bp −$588	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	−0.0646%	4h	503.49	−0.011%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0057%	1h	503.34	−0.042%	$414K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	502.95	−0.119%	$688K	$473K	10x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	503.55	long leg	$162K	$114K	20x
Extended MSFT_24_5-USD	0.0000%	1h	503.58	+0.005%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.70	+0.030%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.41	−0.028%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.73	+0.036%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.54	−0.002%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.48	−0.014%	$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	503.61	+0.012%	$1.3M	$400K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.63	+0.015%	$19K	$320K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.40	+0.169%	$6K	$3.7M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.36	−0.038%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.46	−0.018%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.66	+0.022%	$2.2M	$819K	10x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	503.53	−0.004%	$191K	$205K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	503.14	−0.081%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.46	−0.018%	$1.2M	$508K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.38	−0.034%	$705K	$1.8M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.46	−0.018%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.39	−0.032%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.67	+0.024%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.20	−0.069%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.19	−0.071%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.39	−0.032%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	−0.059%	$513K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.41	−0.027%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.053%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.089%	$1.6M	$84K	20x	as long as short
ApeX Omni MSFTUSDTshort	+0.0100%	1h	503.41	−0.028%	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.48	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.53	−0.003%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	+0.064%	$115K	$45K	30x	as long as short