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 −0.011%

Price spread now: Bitget against Binance+0.004%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.325% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 2 days (all we have)+0.007%+$1 · spread now +0.004%, 7d avg +0.004%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	501.65	0	get 0.0000% / 8h	2h 35m	$15.7M	$19.2M	20x
Short	Bitget MSFTUSDT	501.67	0	get 0.0000% / 8h	2h 35m	$3.8M	$2.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.004%Rate

Funding earned: $0
Price spread: +0.004% → +0.004%: $0.01
Slippage, 4 orders: −$10.54
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$32.54
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Bitget: 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 Binance live order book, 5 min ago	0.10 bp	7.3 bp −$7	12.0 bp −$120	44.5 bp −$4,448	doesn't fit
Sell Bitget live order book, 2 min ago	1.20 bp	9.6 bp −$10	13.2 bp −$132	38.3 bp −$3,834	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	+0.003%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0046%	1h	501.42	−0.046%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.71	+0.012%	$689K	$431K	10x	as long as short
BloFin MSFT-USDT	−0.0012%	8h	501.78	+0.026%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	+0.072%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.59	−0.011%	$372K	$369K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	501.65	long leg	$15.7M	$19.2M	20x
Bybit MSFTUSDT	0.0000%	8h	501.79	+0.028%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.68	+0.006%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.35	−0.060%	$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 MSFTUSDTshort	0.0000%	8h	501.67	+0.004%	$3.8M	$2.2M	100x
Variational Omni MSFT	0.0000%	8h	501.70	+0.010%	$1.3M	$724K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	−0.004%	$18K	$330K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.40	+0.150%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.61	−0.008%	$27K	$104K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.46	−0.038%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.83	+0.036%	$2.2M	$758K	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.68	+0.006%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.59	−0.012%	$666K	$2.2M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	501.35	−0.060%	$32K	$8K	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.63	−0.004%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.41	−0.048%	$22.2M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.18	−0.094%	$304K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.64	−0.002%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.60	−0.009%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.27	−0.076%	$515K	$479K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.68	+0.006%	$1.2M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.50	−0.030%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.52	−0.026%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.31	−0.068%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.64	−0.002%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.65	0.000%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.96	+0.062%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.49	−0.032%	$109K	$90K	10x	as long as short