Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.012%

Price spread now: tradeXYZ against Bitget−0.115%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 7 days+0.004%$0 · spread now −0.115%, 7d avg −0.121%

Together, before fees+0.062%+ Points / potential airdroptradeXYZ: Active · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.121%, so right now this pair is about funding alone: +$2 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	503.93	0	get 0.0000% / 8h	7h 25m	$3.9M	$2.9M	100x
Short	tradeXYZ xyz:MSFT	503.35	0.0050	get 0.0006% / 1h	25m 08s	$22.4M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.115%Rate

Funding earned: $10.5
Price spread: −0.115% → −0.121%: $0.58
Slippage, 4 orders: −$9.18
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$28.1
Costs to cover: 0.392%
Break-even: 25.7 days

Slippage from Bitget: live order book, 3 min ago; tradeXYZ: 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, 3 min ago	1.59 bp	9.6 bp −$10	12.8 bp −$128	44.3 bp −$4,431	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.10 bp	9.7 bp −$10	11.7 bp −$117	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
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.90	−0.006%	$681K	$480K	10x	as long as short
Nado MSFT-PERP	−0.0023%	1h	503.44	−0.097%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.96	+0.006%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.82	−0.022%	$335K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.97	+0.008%	$15.9M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.54	−0.077%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.95	+0.004%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.60	−0.065%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	503.93	long leg	$3.9M	$2.9M	100x
Variational Omni MSFT	0.0000%	8h	503.92	−0.003%	$1.3M	$387K	—	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	504.32	+0.078%	$19K	$315K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.73	+0.159%	$6K	$3.5M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.87	−0.012%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.40	+0.093%	$2.2M	$840K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.98	+0.010%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	503.35	−0.115%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0020%	8h	503.99	+0.012%	$192K	$203K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.89	−0.008%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.62	−0.062%	$1.2M	$517K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.67	−0.052%	$699K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.65	−0.056%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.77	−0.032%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTshort	+0.0050%	1h	503.35	−0.115%	$22.4M	$8.9M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	503.41	−0.103%	$303K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.68	−0.050%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.48	−0.089%	$514K	$397K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.72	−0.042%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.59	−0.067%	$1.6M	$115K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.71	−0.044%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.78	−0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.78	−0.031%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0187%	1h	503.66	−0.054%	$27K	$45K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.84	+0.379%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0795%	4h	504.18	+0.049%	$103K	$242K	10x	as long as short