Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h +0.059%

Price spread now: edgeX against Binance−0.031%50s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.320% of the position

Long on Binance Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 2 days (all we have)+0.009%+$1 · spread now −0.031%, 7d avg −0.010%

Together, before fees+0.111%+ Points / potential airdropedgeX: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and edgeX is 0.021% cheaper against Binance than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.010%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.102%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	502.03	0	get 0.0000% / 8h	1h 32m	$15.7M	$19.3M	20x
Short	edgeX MSFTUSDC	501.87	−0.0036	pay 0.0018% / 4h	1h 32m	$102K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$7.62
Price spread: −0.031% → −0.010%: −$2.09
Slippage, 4 orders: −$12.96
Fee Binance: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$41.68
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; edgeX: live order book, 50 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, 8 min ago	0.20 bp	6.0 bp −$6	9.5 bp −$95	43.9 bp −$4,387	doesn't fit
Sell edgeX live order book, 50 min ago	5.28 bp	10.0 bp −$10	12.4 bp −$124	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
edgeX MSFTUSDCshort	−0.0036%	4h	501.87	−0.031%	$102K	$243K	10x
BloFin MSFT-USDT	−0.0011%	8h	502.05	+0.004%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.06	+0.006%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.94	−0.018%	$337K	$407K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	502.03	long leg	$15.7M	$19.3M	20x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	−0.014%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.75	−0.056%	$3.1M	$1.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.99	−0.008%	$1.3M	$708K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.01	−0.004%	$18K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.80	+0.153%	$6K	$4.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.69	−0.068%	$27K	$104K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.090%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.87	−0.032%	$59K	$229K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.11	+0.016%	$2.2M	$763K	10x	as long as short
Bitget MSFTUSDT	+0.0006%	8h	502.00	−0.006%	$3.8M	$2.2M	100x	as long as short
Bybit MSFTUSDT	+0.0023%	8h	501.98	−0.010%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.84	−0.038%	$654K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.97	−0.012%	$1.2M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.80	−0.046%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.61	−0.084%	$22.3M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.56	−0.094%	$305K	$681K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.94	−0.018%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.62	−0.082%	$529K	$493K	15x	as long as short
Nado MSFT-PERP	+0.0051%	1h	501.56	−0.094%	$414K	$64K	20x	as long as short
Paradex MSFT-USD-PERP	+0.0063%	8h	501.87	−0.031%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.69	−0.068%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.45	−0.116%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.71	−0.064%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.91	−0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.96	−0.014%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0120%	1h	501.60	−0.086%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0176%	1h	502.01	−0.004%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.86	−0.034%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.34	+0.062%	$115K	$45K	30x	as long as short