Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0107%/8h= −11.7% APRpaid last 24h −0.061%

Price spread now: edgeX against Bitget+0.006%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on Bitget Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.006%, 7d avg −0.010%

Together, before fees−0.020%+ Points / potential airdropedgeX: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$3 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	504.37	0	get 0.0000% / 8h	2h 20m	$3.8M	$3.0M	100x
Short	edgeX MSFTUSDC	504.40	−0.0107	pay 0.0054% / 4h	2h 20m	$103K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$22.5
Price spread: +0.006% → −0.010%: $1.62
Slippage, 4 orders: −$16.88
Fee Bitget: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$58.76
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; edgeX: live order book, 26 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, 2 min ago	1.88 bp	10.1 bp −$10	13.1 bp −$131	27.4 bp −$2,744	doesn't fit
Sell edgeX live order book, 26 min ago	5.17 bp	9.8 bp −$10	12.1 bp −$121	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	−0.0107%	4h	504.40	+0.006%	$103K	$243K	10x
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.98	−0.077%	$687K	$485K	10x	as long as short
Nado MSFT-PERP	−0.0035%	1h	504.33	−0.008%	$415K	$68K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.17	−0.040%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.26	−0.021%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.29	−0.016%	$15.8M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.13	−0.048%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.61	+0.048%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.19	−0.036%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	504.37	long leg	$3.8M	$3.0M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	504.32	−0.011%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.42	+0.009%	$19K	$322K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.16	+0.157%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.17	−0.040%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.26	−0.022%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.35	−0.004%	$2.2M	$807K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.79	−0.115%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0017%	8h	504.40	+0.006%	$189K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.13	−0.048%	$687K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.33	−0.008%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.06	−0.061%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.49	+0.024%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.92	−0.089%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.07	−0.059%	$304K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.20	−0.034%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.01	−0.071%	$518K	$472K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.34	−0.007%	$222	—	5x	as long as short
Lighter MSFT	+0.0080%	1h	504.34	−0.006%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.66	−0.141%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.25	−0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.34	−0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.32	−0.009%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0176%	1h	504.04	−0.065%	$33K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	−0.065%	$115K	$45K	30x	as long as short