Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0286%/8h= +31.3% APRpaid last 24h +0.076%

Price spread now: Arcus against Aster−0.026%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$570.572% of the position

Long on Aster Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 4 days (all we have)−0.093%−$9 · spread now −0.026%, 7d avg −0.048%

Together, before fees+0.027%+ Points / potential airdropAster: Stage 5 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Arcus is 0.022% dearer against Aster than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.048%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	501.74	0	get 0.0000% / 8h	6m 22s	$161K	$116K	20x
Short	Arcus MSFT-USD	501.61	0.0286	get 0.0036% / 1h	6m 22s	$97K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.026%Rate

Funding earned: $60.03
Price spread: −0.026% → −0.048%: $2.19
Slippage, 4 orders: −$44.71
Fee Aster: 4 bp × 2 orders: −$8
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $5.02
Costs to cover: 0.572%
Break-even: 6.4 days

Slippage from Aster: live order book, 5 min ago; Arcus: 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 Aster live order book, 5 min ago	11.45 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 6 min ago	2.39 bp	8.7 bp −$9	9.2 bp −$92	20.3 bp −$2,033	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
Nado MSFT-PERP	−0.0022%	1h	501.36	−0.077%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	501.26	−0.096%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.004%	$687K	$449K	10x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	501.78	+0.008%	$188K	$209K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.74	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.63	−0.021%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.73	−0.002%	$15.6M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.85	+0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.51	−0.046%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.76	+0.004%	$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	501.68	−0.012%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.83	+0.018%	$18K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.50	+0.152%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.65	−0.018%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.01	+0.054%	$2.2M	$748K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0009%	1h	501.47	−0.054%	$27K	$102K	10x	as long as short
Bybit MSFTUSDT	+0.0030%	8h	501.83	+0.018%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.49	−0.050%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.55	−0.038%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.65	−0.018%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.27	−0.094%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.26	−0.096%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.64	−0.020%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.22	−0.104%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.58	−0.032%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.59	−0.030%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.23	−0.102%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.34	−0.080%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.64	−0.020%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.65	−0.018%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.73	−0.002%	$1.1M	$586K	20x	as long as short
edgeX MSFTUSDC	+0.0165%	4h	501.76	+0.003%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	+0.114%	$115K	$45K	30x	as long as short
Arcus MSFT-USDshort	+0.0286%	1h	501.61	−0.026%	$97K	$109K	10x