Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Injective against Aster−0.010%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$570.573% of the position

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.417%+$42 on $10k

Price spread, last 3 days (all we have)+0.207%+$21 · spread now −0.010%, 7d avg −0.074%

Together, before fees+0.624%+ Points / potential airdropAster: Stage 5 · farm board+$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.064% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	502.01	0	get 0.0000% / 8h	2h 34m	$161K	$116K	20x
Short	Injective MSFT/USDC PERP	501.96	0.0220	get 0.0028% / 1h	34m 49s	$115K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.010%Rate

Funding earned: $46.2
Price spread: −0.010% → −0.074%: $6.41
Slippage, 4 orders: −$49.24
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$4.65
Costs to cover: 0.573%
Break-even: 7.7 days

Slippage from Aster: live order book, 51 min ago; Injective: live order book, 54 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, 51 min ago	10.75 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 54 min ago	10.46 bp	10.5 bp −$10	10.5 bp −$105	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	−0.0982%	4h	501.67	−0.068%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0045%	1h	501.46	−0.109%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.71	−0.060%	$689K	$431K	10x	as long as short
BloFin MSFT-USDT	−0.0004%	8h	501.78	−0.046%	$189K	$209K	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	501.64	−0.073%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.73	−0.057%	$15.7M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.82	−0.038%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.61	−0.080%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.36	−0.129%	$3.1M	$1.5M	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	501.72	−0.058%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.64	−0.073%	$1.3M	$726K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.60	−0.081%	$18K	$330K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.45	+0.088%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.55	−0.092%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.54	−0.094%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.84	−0.034%	$2.2M	$759K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.40	−0.122%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.67	−0.068%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.56	−0.090%	$665K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.65	−0.072%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.40	−0.122%	$22.2M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.20	−0.161%	$304K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.64	−0.074%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.62	−0.078%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.25	−0.151%	$515K	$479K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.69	−0.064%	$1.2M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.42	−0.118%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.51	−0.100%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.25	−0.151%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.64	−0.074%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.69	−0.064%	$55	—	10x	as long as short
Injective MSFT/USDC PERPshort	+0.0220%	1h	501.96	−0.010%	$115K	$45K	30x
Arcus MSFT-USD	+0.0531%	1h	501.50	−0.102%	$109K	$90K	10x	as long as short