Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.061%

Price spread now: edgeX against Aster+0.046%50s7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as 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−$640.644% of the position

Long on Aster Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%$0 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.046%, 7d avg −0.018%

Together, before fees−0.052%+ Points / potential airdropAster: Stage 5 · edgeX: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.064% dearer against Aster than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.018%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 47 hours. The two prices were read 50 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	504.17	0	get 0.0000% / 8h	2h 20m	$162K	$114K	20x
Short	edgeX MSFTUSDC	504.40	−0.0107	pay 0.0054% / 4h	2h 20m	$103K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$22.5
Price spread: +0.046% → −0.018%: $6.36
Slippage, 4 orders: −$47.43
Fee Aster: 4 bp × 2 orders: −$8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$80.57
Costs to cover: 0.644%
Break-even: never at this rate

Slippage from Aster: live order book, 25 min ago; edgeX: live order book, 26 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, 25 min ago	12.82 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 26 min ago	5.17 bp	9.8 bp −$10	12.1 bp −$121	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 MSFTUSDCshort	−0.0107%	4h	504.40	+0.046%	$103K	$243K	10x
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.98	−0.038%	$687K	$485K	10x	as long as short
Nado MSFT-PERP	−0.0035%	1h	504.33	+0.032%	$415K	$68K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	504.17	long leg	$162K	$114K	20x
Extended MSFT_24_5-USD	0.0000%	1h	504.26	+0.019%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.29	+0.023%	$15.8M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.13	−0.008%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.61	+0.087%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.19	+0.004%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.37	+0.040%	$3.8M	$3.0M	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	504.32	+0.029%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.42	+0.049%	$19K	$322K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.16	+0.197%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.17	0.000%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.26	+0.018%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.35	+0.036%	$2.2M	$807K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.79	−0.075%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0017%	8h	504.40	+0.046%	$189K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.13	−0.008%	$687K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.33	+0.032%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.06	−0.022%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.49	+0.064%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.92	−0.049%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.07	−0.020%	$304K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.20	+0.006%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.01	−0.032%	$518K	$472K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.34	+0.033%	$222	—	5x	as long as short
Lighter MSFT	+0.0080%	1h	504.34	+0.034%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.66	−0.101%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.25	+0.016%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.34	+0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.32	+0.031%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0176%	1h	504.04	−0.026%	$33K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	−0.026%	$115K	$45K	30x	as long as short