Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Aster+0.054%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$990.988% of the position

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)+0.017%+$2 · spread now +0.054%, 7d avg +0.029%

Together, before fees−0.009%+ Points / potential airdropAster: Stage 5 · farm board−$1 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: Phemex is 0.025% dearer against Aster than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	501.79	0	get 0.0000% / 8h	0m 35s	$161K	$116K	20x
Short	Phemex MSFTUSDT	502.06	0	get 0.0000% / 8h	0m 35s	$2.2M	$746K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.054%Rate

Funding earned: $0
Price spread: +0.054% → +0.029%: $2.53
Slippage, 4 orders: −$78.81
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$96.27
Costs to cover: 0.988%
Break-even: never at this rate

Slippage from Aster: live order book, 11 min ago; Phemex: live order book, 3 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, 11 min ago	11.45 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.10 bp	26.7 bp −$27	doesn't fit	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
Nado MSFT-PERP	−0.0018%	1h	501.40	−0.077%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.005%	$687K	$449K	10x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.79	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.69	−0.020%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.80	+0.002%	$15.6M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.95	+0.033%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.48	−0.061%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.81	+0.005%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.66	−0.026%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.74	−0.009%	$18K	$294K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.48	+0.138%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.66	−0.025%	$59K	$228K	20x	as long as short
Phemex MSFTUSDTshort	0.0000%	8h	502.06	+0.054%	$2.2M	$746K	10x
BloFin MSFT-USDT	+0.0002%	8h	501.76	−0.005%	$188K	$209K	20x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	501.40	−0.077%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0032%	8h	501.82	+0.007%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.63	−0.031%	$621K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.54	−0.049%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.70	−0.017%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.37	−0.083%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.30	−0.097%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.69	−0.019%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.23	−0.111%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.64	−0.030%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.37	−0.083%	$10K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	501.64	−0.029%	$27K	$102K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.24	−0.109%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.46	−0.065%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.61	−0.035%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.64	−0.029%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0150%	4h	501.63	−0.031%	$102K	$243K	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.87	+0.017%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	+0.104%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.67	−0.023%	$97K	$109K	10x	as long as short