Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Aster−0.002%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$600.595% of the position

Long on Aster Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now −0.002%, 7d avg −0.010%

Together, before fees−0.046%+ Points / potential airdropAster: Stage 5 · farm board−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	502.01	0	get 0.0000% / 8h	1h 51m	$161K	$116K	20x
Short	Bitget MSFTUSDT	502.00	0	get 0.0000% / 8h	1h 51m	$3.8M	$2.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.002%Rate

Funding earned: $0
Price spread: −0.002% → −0.010%: $0.8
Slippage, 4 orders: −$39.51
Fee Aster: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$58.71
Costs to cover: 0.595%
Break-even: never at this rate

Slippage from Aster: live order book, 30 min ago; Bitget: live order book, 1 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, 30 min ago	9.36 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.29 bp	7.9 bp −$8	13.2 bp −$132	43.5 bp −$4,349	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
Hotstuff MSFT-PERP	−0.0168%	1h	501.65	−0.072%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0010%	1h	501.70	−0.061%	$414K	$64K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	502.01	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.93	−0.015%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.01	0.000%	$15.7M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.12	+0.022%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.19	+0.036%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.89	−0.024%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	502.00	−0.002%	$3.8M	$2.2M	100x
Variational Omni MSFT	0.0000%	8h	501.61	−0.079%	$1.3M	$710K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.79	−0.045%	$19K	$325K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.76	+0.149%	$6K	$4.4M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.086%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.10	+0.018%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.65	+0.127%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0029%	8h	502.21	+0.040%	$188K	$210K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.86	−0.030%	$652K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.10	+0.018%	$1.2M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.96	−0.010%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.68	−0.066%	$22.2M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.68	−0.066%	$305K	$686K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.93	−0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.48	−0.106%	$530K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.95	−0.012%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.67	−0.068%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0080%	1h	502.10	+0.018%	$1.1M	$589K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.57	−0.088%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.54	−0.094%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.94	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.01	0.000%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.86	−0.030%	$109K	$90K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.17	+0.231%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0348%	1h	501.97	−0.008%	$27K	$104K	10x	as long as short
edgeX MSFTUSDC	+0.0521%	4h	501.92	−0.018%	$102K	$243K	10x	as long as short