Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Bitget+0.050%7-day average +0.003% · 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−$31as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.050%, 7d avg +0.003%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.046% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	503.48	0	get 0.0000% / 8h	7h 58m	$3.9M	$2.9M	100x
Short	OKX MSFT-USDT-SWAP	503.73	0	get 0.0000% / 8h	7h 58m	$3.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → +0.003%: $4.65
Slippage, 4 orders: −$13.98
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.34
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	0.79 bp	11.2 bp −$11	15.2 bp −$152	48.9 bp −$4,892	doesn't fit
Sell OKX live order book, 4 min ago	1.49 bp	8.5 bp −$8	14.4 bp −$144	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	+0.003%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0057%	1h	503.34	−0.028%	$414K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.16	−0.064%	$681K	$448K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.48	0.000%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.49	+0.002%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.63	+0.030%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.25	−0.046%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	503.73	+0.050%	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	503.38	−0.020%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	503.48	long leg	$3.9M	$2.9M	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	503.61	+0.026%	$1.3M	$400K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.63	+0.029%	$19K	$320K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.33	+0.169%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.26	−0.044%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.57	+0.018%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.75	+0.054%	$2.2M	$819K	10x	as long as short
BloFin MSFT-USDT	+0.0024%	8h	503.53	+0.010%	$191K	$205K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	503.14	−0.068%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.45	−0.006%	$1.2M	$508K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	−0.030%	$705K	$1.8M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.46	−0.004%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.39	−0.018%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.67	+0.038%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.14	−0.068%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.19	−0.058%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.28	−0.040%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	−0.046%	$513K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.41	−0.014%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.040%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.11	−0.073%	$1.6M	$84K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.41	−0.014%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.48	0.000%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.53	+0.011%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	+0.077%	$115K	$45K	30x	as long as short