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 +0.078%

Price spread now: Arcus against Bitget−0.042%7-day average −0.038% · 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−$38as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Bitget Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.042%, 7d avg −0.038%

Together, before fees+0.106%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, 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	Bitget MSFTUSDT	501.55	0	get 0.0000% / 8h	7h 17m	$3.8M	$2.1M	100x
Short	Arcus MSFT-USD	501.34	0.0212	get 0.0026% / 1h	17m 06s	$97K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bitget. 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 BitgetbpFee ArcusbpOrdersPrice spread, now −0.042%Rate

Funding earned: $44.47
Price spread: −0.042% → −0.038%: −$0.38
Slippage, 4 orders: −$21.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $6.01
Costs to cover: 0.381%
Break-even: 6.1 days

Slippage from Bitget: live order book, 1 min ago; Arcus: live order book, 56 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 Bitget live order book, 1 min ago	1.70 bp	9.7 bp −$10	12.1 bp −$121	44.0 bp −$4,403	doesn't fit
Sell Arcus live order book, 56 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	−0.0969%	4h	501.47	−0.016%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.062%	$685K	$453K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.46	−0.017%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.32	−0.045%	$337K	$900K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.54	−0.002%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.27	−0.056%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.44	−0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.27	−0.056%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	501.55	long leg	$3.8M	$2.1M	100x
Variational Omni MSFT	0.0000%	8h	501.48	−0.014%	$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	501.52	−0.006%	$19K	$290K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.23	+0.136%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.15	−0.080%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.37	−0.036%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.92	+0.074%	$2.2M	$761K	10x	as long as short
BloFin MSFT-USDT	+0.0011%	8h	501.48	−0.014%	$188K	$205K	20x	as long as short
Nado MSFT-PERP	+0.0013%	1h	501.09	−0.093%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.27	−0.056%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.39	−0.032%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.29	−0.052%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.19	−0.072%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.16	−0.078%	$22.2M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.16	−0.078%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.35	−0.040%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.99	−0.112%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.34	−0.042%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.11	−0.088%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.28	−0.054%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.95	−0.120%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.31	−0.048%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.49	−0.012%	$1.1M	$486K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.27	−0.056%	$55	—	10x	as long as short
Arcus MSFT-USDshort	+0.0212%	1h	501.34	−0.042%	$97K	$109K	10x
Injective MSFT/USDC PERP	+0.0220%	1h	501.82	+0.054%	$115K	$45K	30x	as long as short