Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Extended against Binance−0.027%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$230.235% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.027%, 7d avg −0.034%

Together, before fees−0.055%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	503.63	0	get 0.0000% / 8h	7h 58m	$15.8M	$19.1M	20x
Short	Extended MSFT_24_5-USD	503.49	0	get 0.0000% / 1h	58m 27s	$339K	$1.9M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → −0.034%: $0.62
Slippage, 4 orders: −$8.47
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$22.84
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Extended: live order book, 5 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, 12 min ago	0.20 bp	6.2 bp −$6	11.2 bp −$112	46.7 bp −$4,670	doesn't fit
Sell Extended live order book, 5 min ago	0.10 bp	5.2 bp −$5	31.7 bp −$317	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 MSFTUSDC	−0.0646%	4h	503.49	−0.027%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0057%	1h	503.34	−0.058%	$414K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.16	−0.093%	$681K	$448K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.48	−0.029%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	503.49	−0.027%	$339K	$1.9M	17x
Binance MSFTUSDTlong	0.0000%	8h	503.63	long leg	$15.8M	$19.1M	20x
Bybit MSFTUSDT	0.0000%	8h	503.25	−0.075%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.73	+0.020%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.38	−0.050%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.48	−0.030%	$3.9M	$2.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.61	−0.004%	$1.3M	$400K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.63	−0.001%	$19K	$320K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.33	+0.139%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.26	−0.073%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.57	−0.012%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.75	+0.024%	$2.2M	$819K	10x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	503.53	−0.020%	$191K	$205K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	503.14	−0.097%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.45	−0.036%	$1.2M	$508K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	−0.060%	$705K	$1.8M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.46	−0.034%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.39	−0.048%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.67	+0.008%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.14	−0.097%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.19	−0.087%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.28	−0.069%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	−0.075%	$513K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.41	−0.043%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.069%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.11	−0.103%	$1.6M	$84K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.41	−0.044%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.48	−0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.53	−0.019%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	+0.048%	$115K	$45K	30x	as long as short