Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h +0.014%

Price spread now: tradeXYZ against Aster−0.073%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$620.617% of the position

Long on Aster Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−0.062%−$6 · spread now −0.073%, 7d avg −0.117%

Together, before fees−0.017%+ Points / potential airdropAster: Stage 5 · tradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.044% dearer against Aster than usual: you sell high and buy low (spread −0.073% now, against its 7-day average of −0.117%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	501.27	0	get 0.0000% / 8h	3h 46m	$161K	$116K	20x
Short	tradeXYZ xyz:MSFT	500.90	−0.0027	pay 0.0003% / 1h	46m 53s	$22.1M	$8.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$5.58
Price spread: −0.073% → −0.117%: $4.37
Slippage, 4 orders: −$35.68
Fee Aster: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$62.89
Costs to cover: 0.617%
Break-even: never at this rate

Slippage from Aster: live order book, 4 min ago; tradeXYZ: live order book, 2 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, 4 min ago	13.65 bp	21.0 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 2 min ago	0.40 bp	10.0 bp −$10	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	−0.0118%	1h	501.22	−0.010%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.059%	$677K	$450K	10x	as long as short
BloFin MSFT-USDT	−0.0027%	8h	501.46	+0.039%	$189K	$204K	20x	as long as short
tradeXYZ xyz:MSFTshort	−0.0027%	1h	500.90	−0.073%	$22.1M	$8.7M	20x
Aster MSFTUSDTlong	0.0000%	8h	501.27	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.27	+0.001%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.41	+0.028%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.17	−0.019%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.54	+0.055%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.21	−0.011%	$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	501.30	+0.007%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	0.000%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.14	−0.025%	$19K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.18	+0.182%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.23	−0.007%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.33	+0.013%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.42	+0.031%	$2.2M	$770K	10x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	500.92	−0.069%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.40	+0.027%	$1.1M	$498K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.18	−0.017%	$676K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.23	−0.007%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.05	−0.043%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.29	+0.005%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	500.98	−0.057%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.00	−0.053%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.20	−0.013%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.89	−0.075%	$518K	$451K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	501.28	+0.003%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.73	−0.107%	$1.6M	$52K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.78	−0.097%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.30	+0.007%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.31	+0.009%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0213%	4h	501.28	+0.003%	$102K	$244K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.54	+0.055%	$115K	$45K	30x	as long as short