Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0744%/8h= +81.4% APRpaid last 24h +0.006%

Price spread now: Binance against edgeX+0.017%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.324% of the position

Long on edgeX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)−0.100%−$10 · spread now +0.017%, 7d avg +0.009%

Together, before fees−0.165%+ Points / potential airdropedgeX: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$22 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.065% in total (about -3.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	501.26	−0.0744	get 0.0372% / 4h	3h 56m	$102K	$242K	10x
Short	Binance MSFTUSDT	501.35	0	get 0.0000% / 8h	3h 56m	$15.8M	$19.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against edgeX. 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 edgeXbpFee BinancebpOrdersPrice spread, now +0.017%Rate

Funding earned: $156.14
Price spread: +0.017% → +0.009%: $0.84
Slippage, 4 orders: −$13.44
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: $124.54
Costs to cover: 0.324%
Break-even: 1.4 days

Slippage from edgeX: live order book, 60 min ago; Binance: live order book, 14 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 edgeX live order book, 60 min ago	5.59 bp	10.3 bp −$10	12.6 bp −$126	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.10 bp	6.1 bp −$6	9.4 bp −$94	39.4 bp −$3,942	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 MSFTUSDClong	−0.0744%	4h	501.26	long leg	$102K	$242K	10x
Nado MSFT-PERP	−0.0119%	1h	501.18	−0.017%	$414K	$64K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0069%	1h	500.93	−0.067%	$27K	$42K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0041%	1h	500.92	−0.068%	$22.1M	$8.7M	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.059%	$677K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.20	−0.013%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.21	−0.010%	$337K	$883K	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	501.35	+0.017%	$15.8M	$19.0M	20x
Bybit MSFTUSDT	0.0000%	8h	501.07	−0.039%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.32	+0.011%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.17	−0.019%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.25	−0.003%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	+0.001%	$1.3M	$609K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.30	+0.007%	$19K	$301K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.11	+0.169%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.17	−0.019%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.41	+0.029%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	501.28	+0.003%	$189K	$203K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	500.88	−0.076%	$32K	$8K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.10	−0.033%	$677K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.24	−0.005%	$1.1M	$4.9M	10x	as long as short
Lighter MSFT	+0.0040%	1h	501.35	+0.017%	$1.1M	$498K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.04	−0.045%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.36	+0.019%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.08	−0.037%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.91	−0.070%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.15	−0.023%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.85	−0.082%	$527K	$451K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.23	−0.006%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.91	−0.070%	$1.6M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.16	−0.021%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.22	−0.009%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.21	−0.011%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.70	+0.287%	$115K	$45K	30x	as long as short