Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.003%

Price spread now: Aster against Coinbase International+0.053%7-day average +0.130% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$5 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now +0.053%, 7d avg +0.130%

Together, before fees+0.033%+ Points / potential airdropAster: Stage 5 · farm board+$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: Aster is 0.077% cheaper against Coinbase International than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.130%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	501.24	−0.0008	get 0.0001% / 1h	16m 55s	$685K	$453K	10x
Short	Aster MSFTUSDT	501.50	0	get 0.0000% / 8h	7h 16m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now +0.053%Rate

Funding earned: $1.68
Price spread: +0.053% → +0.130%: −$7.74
Slippage, 4 orders: −$38.59
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$62.65
Costs to cover: 0.566%
Break-even: 268.1 days

Slippage from Coinbase International: live order book, 56 min ago; Aster: live order book, 54 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 Coinbase International live order book, 56 min ago	1.99 bp	7.8 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell Aster live order book, 54 min ago	11.45 bp	16.7 bp −$17	doesn't fit	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	−0.0969%	4h	501.47	+0.046%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0008%	1h	501.24	long leg	$685K	$453K	10x
Aster MSFTUSDTshort	0.0000%	8h	501.50	+0.053%	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.43	+0.037%	$337K	$900K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.54	+0.060%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.27	+0.006%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.44	+0.040%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.32	+0.016%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.55	+0.062%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.48	+0.048%	$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	+0.056%	$19K	$290K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.23	+0.198%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.15	−0.018%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.37	+0.026%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.92	+0.136%	$2.2M	$761K	10x	as long as short
BloFin MSFT-USDT	+0.0011%	8h	501.48	+0.048%	$188K	$205K	20x	as long as short
Nado MSFT-PERP	+0.0013%	1h	501.09	−0.031%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.27	+0.006%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.39	+0.030%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.29	+0.010%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.19	−0.010%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.16	−0.016%	$22.2M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.16	−0.016%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.35	+0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.99	−0.050%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.34	+0.020%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.11	−0.026%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.32	+0.016%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.95	−0.058%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.31	+0.014%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.49	+0.050%	$1.1M	$486K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.27	+0.006%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.34	+0.020%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.82	+0.116%	$115K	$45K	30x	as long as short