Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0069%/8h= +7.6% APRpaid last 24h +0.016%

Price spread now: Deribit against Aster−0.041%55s7-day average −0.052% · 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—prices read too far apart to compare

costs, in and out, $10k−$540.535% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.059%+$6 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.041%, 7d avg −0.052%

Together, before fees+0.119%+ Points / potential airdropAster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.052%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 55 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	501.77	0	get 0.0000% / 8h	4m 21s	$161K	$116K	20x
Short	Deribit MSFT_USDC-PERPETUAL	501.56	0.0069	get 0.0009% / 1h	4m 21s	$27K	$102K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.041%Rate

Funding earned: $14.51
Price spread: −0.041% → −0.052%: $1.04
Slippage, 4 orders: −$38.51
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$37.95
Costs to cover: 0.535%
Break-even: 25.3 days

Slippage from Aster: live order book, 7 min ago; Deribit: live order book, 9 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, 7 min ago	11.45 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 9 min ago	0.10 bp	10.1 bp −$10	13.1 bp −$131	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	−0.0978%	4h	501.69	−0.016%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0021%	1h	501.42	−0.069%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0020%	8h	501.74	−0.005%	$188K	$209K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.001%	$687K	$449K	10x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	501.34	−0.085%	$32K	$8K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.77	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.60	−0.033%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.69	−0.015%	$15.6M	$19.0M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.89	+0.025%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.41	−0.071%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.69	−0.015%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.68	−0.018%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.83	+0.012%	$18K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.51	+0.148%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.61	−0.031%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.99	+0.045%	$2.2M	$747K	10x	as long as short
Bybit MSFTUSDT	+0.0030%	8h	501.81	+0.009%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.58	−0.037%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.53	−0.047%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.65	−0.023%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.31	−0.091%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.31	−0.091%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.64	−0.025%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.22	−0.109%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.62	−0.029%	$221	—	5x	as long as short
Deribit MSFT_USDC-PERPETUALshort	+0.0069%	1h	501.56	−0.041%	$27K	$102K	10x
Phoenix MSFT	+0.0080%	1h	501.51	−0.051%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.16	−0.121%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.46	−0.061%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.64	−0.025%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.64	−0.025%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.80	+0.007%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	+0.108%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.59	−0.035%	$97K	$109K	10x	as long as short