Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.068%

Price spread now: Arcus against Binance−0.030%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Binance Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.120%+$12 on $10k

Price spread, last 2 days (all we have)−0.025%−$2 · spread now −0.030%, 7d avg −0.027%

Together, before fees+0.096%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	501.47	0	get 0.0000% / 8h	7h 12m	$15.7M	$18.7M	20x
Short	Arcus MSFT-USD	501.32	0.0212	get 0.0026% / 1h	12m 14s	$97K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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 BinancebpFee ArcusbpOrdersPrice spread, now −0.030%Rate

Funding earned: $44.47
Price spread: −0.030% → −0.027%: −$0.26
Slippage, 4 orders: −$15.86
Fee Binance: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $13.84
Costs to cover: 0.304%
Break-even: 4.8 days

Slippage from Binance: live order book, 14 min ago; Arcus: live order book, 61 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 Binance live order book, 14 min ago	0.10 bp	6.3 bp −$6	12.1 bp −$121	46.9 bp −$4,693	doesn't fit
Sell Arcus live order book, 61 min ago	2.39 bp	8.7 bp −$9	9.2 bp −$92	20.3 bp −$2,033	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	−0.0508%	4h	501.42	−0.010%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.046%	$685K	$453K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.50	+0.005%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.36	−0.023%	$337K	$900K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	501.47	long leg	$15.7M	$18.7M	20x
Bybit MSFTUSDT	0.0000%	8h	501.32	−0.030%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.50	+0.006%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.28	−0.038%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.46	−0.002%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.45	−0.005%	$1.3M	$690K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.51	+0.008%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.25	+0.156%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.10	−0.074%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.36	−0.022%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.02	+0.110%	$2.2M	$760K	10x	as long as short
BloFin MSFT-USDT	+0.0007%	8h	501.51	+0.008%	$188K	$205K	20x	as long as short
Nado MSFT-PERP	+0.0019%	1h	501.12	−0.069%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.25	−0.044%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.46	−0.002%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.34	−0.026%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.14	−0.066%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.13	−0.068%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.35	−0.024%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.05	−0.084%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.38	−0.017%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.24	−0.046%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.33	−0.028%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.13	−0.068%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.41	−0.012%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.35	−0.023%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.52	+0.010%	$1.1M	$486K	20x	as long as short
Hotstuff MSFT-PERP	+0.0168%	1h	501.20	−0.054%	$32K	$8K	20x	as long as short
Arcus MSFT-USDshort	+0.0212%	1h	501.32	−0.030%	$97K	$109K	10x
Injective MSFT/USDC PERP	+0.0220%	1h	501.82	+0.070%	$115K	$45K	30x	as long as short