Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.030%

Price spread now: KuCoin against Coinbase International−0.044%7-day average +0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1641.636% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$20 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now −0.044%, 7d avg +0.041%

Together, before fees+0.208%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.085% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.044% now, against its 7-day average of +0.041%). If the spread goes back, that is −$8 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	501.76	−0.0016	get 0.0002% / 1h	22m 37s	$687K	$449K	10x
Short	KuCoin MSFTUSDTM	501.54	0.0100	get 0.0100% / 8h	22m 37s	$1.5M	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.044%Rate

Funding earned: $24.36
Price spread: −0.044% → +0.041%: −$8.46
Slippage, 4 orders: −$141.58
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$147.69
Costs to cover: 1.636%
Break-even: 49.4 days

Slippage from Coinbase International: live order book, 56 min ago; KuCoin: live order book, 3 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	3.69 bp	9.7 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	7.08 bp	72.5 bp −$73	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
Nado MSFT-PERP	−0.0019%	1h	501.80	+0.009%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0016%	1h	501.76	long leg	$687K	$449K	10x
BloFin MSFT-USDT	−0.0015%	8h	502.07	+0.062%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.20	+0.087%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.02	+0.051%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.10	+0.068%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.090%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	501.63	−0.026%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.80	+0.008%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.12	+0.072%	$3.8M	$2.3M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.99	+0.045%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.03	+0.054%	$19K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.87	+0.221%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.83	+0.014%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.97	+0.042%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.11	+0.070%	$2.2M	$748K	10x	as long as short
Bybit MSFTUSDT	+0.0031%	8h	502.16	+0.080%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.97	+0.042%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.93	+0.034%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.05	+0.058%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.74	−0.004%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.65	−0.022%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.01	+0.050%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.63	−0.026%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	502.00	+0.048%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.78	+0.004%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	501.54	−0.044%	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.59	−0.034%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.91	+0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.97	+0.042%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	502.22	+0.092%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.37	+0.122%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.97	+0.042%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0346%	4h	502.02	+0.053%	$102K	$242K	10x	as long as short