Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.023%

Price spread now: Gate against Deribit+0.020%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.078%−$8 on $10k

Price spread, last 3 days (all we have)−0.045%−$4 · spread now +0.020%, 7d avg +0.001%

Together, before fees−0.123%−$12 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSFT_USDC-PERPETUAL	501.80	0	get 0.0000% / 1h	21m 32s	$27K	$104K	10x
Short	Gate MSFT_USDT	501.90	0	get 0.0000% / 8h	1h 21m	$3.1M	$1.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → +0.001%: $1.85
Slippage, 4 orders: −$21.19
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$41.33
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from Deribit: live order book, 62 min ago; Gate: live order book, 1 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 Deribit live order book, 62 min ago	0.10 bp	3.6 bp −$4	5.3 bp −$53	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.49 bp	12.1 bp −$12	44.2 bp −$442	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
BloFin MSFT-USDT	−0.0019%	8h	502.17	+0.074%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.18	+0.076%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.05	+0.050%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.13	+0.066%	$15.7M	$19.2M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.082%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	501.90	+0.020%	$3.1M	$1.6M	100x
Variational Omni MSFT	0.0000%	8h	502.08	+0.055%	$1.3M	$708K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.12	+0.064%	$19K	$312K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.90	+0.219%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUALlong	0.0000%	1h	501.80	long leg	$27K	$104K	10x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.044%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.03	+0.046%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.40	+0.120%	$2.2M	$759K	10x	as long as short
Bitget MSFTUSDT	+0.0001%	8h	502.13	+0.066%	$3.8M	$2.2M	100x	as long as short
Nado MSFT-PERP	+0.0016%	1h	501.96	+0.032%	$414K	$64K	20x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.17	+0.074%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.01	+0.042%	$652K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.02	+0.044%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.95	+0.030%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.76	−0.008%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.65	−0.030%	$305K	$676K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.04	+0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.79	−0.002%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0060%	8h	502.07	+0.055%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.89	+0.018%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.49	−0.062%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.77	−0.006%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.03	+0.046%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.07	+0.054%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0136%	1h	501.80	0.000%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0144%	1h	502.17	+0.074%	$1.1M	$590K	20x	as long as short
edgeX MSFTUSDC	+0.0158%	4h	502.09	+0.057%	$102K	$242K	10x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.04	+0.048%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.17	+0.074%	$115K	$45K	30x	as long as short