Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bitget against Bybit+0.026%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.026%, 7d avg +0.037%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSFTUSDT	501.82	0	get 0.0000% / 8h	5h 41m	$7.4M	$1.6M	100x
Short	Bitget MSFTUSDT	501.95	0	get 0.0000% / 8h	5h 41m	$4.5M	$2.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bybit. 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 BybitbpFee BitgetbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → +0.037%: −$1.12
Slippage, 4 orders: −$15.81
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$39.93
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: live order book, 2 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 Bybit live order book, 2 min ago	0.50 bp	9.7 bp −$10	21.5 bp −$215	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.80 bp	11.2 bp −$11	15.5 bp −$155	59.2 bp −$5,919	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
Nado MSFT-PERP	−0.0064%	1h	501.60	−0.044%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.116%	$679K	$456K	10x	as long as short
Hotstuff MSFT-PERP	−0.0024%	1h	501.46	−0.072%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	−0.0001%	8h	501.97	+0.030%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.81	−0.003%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.85	+0.007%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.91	+0.018%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDTlong	0.0000%	8h	501.82	long leg	$7.4M	$1.6M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	502.04	+0.044%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.80	−0.004%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDTshort	0.0000%	8h	501.95	+0.026%	$4.5M	$2.5M	100x
Variational Omni MSFT	0.0000%	8h	501.83	+0.001%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.03	+0.041%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.75	+0.185%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.83	+0.002%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.99	+0.034%	$2.2M	$770K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.81	−0.002%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.68	−0.028%	$677K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.68	−0.028%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.73	−0.018%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.45	−0.074%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.54	−0.056%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.87	+0.010%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.57	−0.050%	$524K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0060%	8h	501.82	−0.001%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.77	−0.010%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.66	−0.032%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.57	−0.050%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.88	+0.012%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.97	+0.030%	$1.1M	$458K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.90	+0.016%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0149%	1h	501.72	−0.020%	$27K	$41K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.81	−0.002%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0854%	4h	501.96	+0.029%	$102K	$242K	10x	as long as short