Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Coinbase International against Aster−0.086%7-day average −0.132% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

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

costs, in and out, $10k−$590.592% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.086%, 7d avg −0.132%

Together, before fees+0.034%+ Points / potential airdropAster: Stage 5 · farm board+$3 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: Coinbase International is 0.047% dearer against Aster than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.132%.

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 42m	$161K	$116K	20x
Short	Coinbase International MSFT-PERP-INTX	501.58	0	get 0.0000% / 1h	42m 07s	$688K	$449K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.086%Rate

Funding earned: $0
Price spread: −0.086% → −0.132%: $4.65
Slippage, 4 orders: −$41.22
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$54.56
Costs to cover: 0.592%
Break-even: never at this rate

Slippage from Aster: live order book, 39 min ago; Coinbase International: live order book, 41 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, 39 min ago	9.36 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 41 min ago	2.89 bp	8.1 bp −$8	11.9 bp −$119	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
Aster MSFTUSDTlong	0.0000%	8h	502.01	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.94	−0.014%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.03	+0.004%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.12	+0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.78	−0.046%	$3.1M	$1.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.02	+0.001%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.09	+0.016%	$18K	$319K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.80	+0.157%	$6K	$4.4M	20x	as long as short
Coinbase International MSFT-PERP-INTXshort	0.0000%	1h	501.58	−0.086%	$688K	$449K	10x
HTX MSFT-USDT	0.0000%	8h	501.92	−0.018%	$59K	$229K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex MSFTUSDT	0.0000%	8h	502.33	+0.064%	$2.2M	$764K	10x	as long as short
Bitget MSFTUSDT	+0.0001%	8h	502.04	+0.006%	$3.8M	$2.2M	100x	as long as short
BloFin MSFT-USDT	+0.0007%	8h	502.03	+0.004%	$188K	$210K	20x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	501.58	−0.086%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0013%	8h	502.11	+0.020%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.85	−0.032%	$654K	$2.1M	20x	as long as short
Nado MSFT-PERP	+0.0040%	1h	501.54	−0.094%	$414K	$64K	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.86	−0.030%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.77	−0.048%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.58	−0.086%	$22.3M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.56	−0.090%	$305K	$684K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.94	−0.014%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.64	−0.074%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	501.85	−0.032%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.76	−0.050%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.60	−0.082%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.73	−0.056%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.93	−0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.97	−0.007%	$55	—	10x	as long as short
Lighter MSFT	+0.0144%	1h	502.02	+0.002%	$1.1M	$589K	20x	as long as short
edgeX MSFTUSDC	+0.0155%	4h	502.08	+0.014%	$102K	$244K	10x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.86	−0.030%	$110K	$90K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.34	+0.066%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0348%	1h	501.80	−0.042%	$27K	$103K	10x	as long as short