Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.029%

Price spread now: Ondo Perps against Aster−0.072%7-day average −0.107% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.089%+$9 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now −0.072%, 7d avg −0.107%

Together, before fees+0.029%+ Points / potential airdropAster: Stage 5 · Ondo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.036% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.107%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	502.17	0	get 0.0000% / 8h	54m 06s	$161K	$116K	20x
Short	Ondo Perps MSFT-USD.P	501.81	0.0050	get 0.0006% / 1h	54m 06s	$529K	$494K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.072%Rate

Funding earned: $10.58
Price spread: −0.072% → −0.107%: $3.56
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $1.14
Costs to cover: 0.130%
Break-even: 6.2 days

Slippage unknown: Aster: live order book, 22 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 22 min ago	9.26 bp	23.7 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0940%	4h	502.06	−0.022%	$102K	$242K	10x	as long as short
Nado MSFT-PERP	−0.0036%	1h	501.89	−0.056%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.082%	$687K	$450K	10x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	502.22	+0.010%	$188K	$209K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	502.17	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	502.12	−0.011%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.21	+0.008%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.31	+0.028%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.99	−0.036%	$3.2M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.20	+0.006%	$3.8M	$2.3M	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	502.05	−0.024%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.07	−0.020%	$19K	$307K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.97	+0.159%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.82	−0.070%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.06	−0.022%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.26	+0.018%	$2.2M	$753K	10x	as long as short
Bybit MSFTUSDT	+0.0021%	8h	502.26	+0.018%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.08	−0.018%	$645K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.99	−0.036%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.79	−0.076%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.10	−0.014%	$1.2M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.79	−0.076%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.69	−0.096%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.12	−0.010%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	501.81	−0.072%	$529K	$494K	15x
Paradex MSFT-USD-PERP	+0.0055%	8h	502.11	−0.011%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.80	−0.074%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.62	−0.110%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.86	−0.062%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.00	−0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.11	−0.012%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	502.26	+0.018%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.36	+0.038%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.05	−0.024%	$98K	$108K	10x	as long as short