Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0978%/8h= +107.0% APRpaid last 24h −0.069%

Price spread now: Bitget against edgeX0.000%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.115%−$12 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now 0.000%, 7d avg +0.011%

Together, before fees−0.086%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: +$29 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.115%, 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 -0.115% in total (about -6.0% 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	501.69	−0.0978	get 0.0489% / 4h	2m 46s	$102K	$243K	10x
Short	Bitget MSFTUSDT	501.69	0	get 0.0000% / 8h	2m 46s	$3.8M	$2.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: $205.29
Price spread: 0.000% → +0.011%: −$1.04
Slippage, 4 orders: −$16.49
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: $166.76
Costs to cover: 0.375%
Break-even: 1.3 days

Slippage from edgeX: live order book, 9 min ago; Bitget: live order book, 5 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, 9 min ago	5.18 bp	9.8 bp −$10	12.2 bp −$122	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.69 bp	10.1 bp −$10	12.9 bp −$129	41.5 bp −$4,152	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	−0.0978%	4h	501.69	long leg	$102K	$243K	10x
Nado MSFT-PERP	−0.0020%	1h	501.34	−0.069%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.014%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.73	+0.009%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.60	−0.018%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.69	0.000%	$15.6M	$19.0M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.77	+0.016%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.41	−0.055%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	501.69	0.000%	$3.8M	$2.3M	100x
Variational Omni MSFT	0.0000%	8h	501.68	−0.002%	$1.3M	$692K	—	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	501.74	+0.010%	$18K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.46	+0.154%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.59	−0.020%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.91	+0.044%	$2.2M	$746K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	501.27	−0.083%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	501.74	+0.010%	$188K	$209K	20x	as long as short
Bybit MSFTUSDT	+0.0032%	8h	501.78	+0.018%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.50	−0.037%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.52	−0.033%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.65	−0.008%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.27	−0.083%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.27	−0.083%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.59	−0.020%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.22	−0.093%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.57	−0.024%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.51	−0.035%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.17	−0.103%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.33	−0.071%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.63	−0.012%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.62	−0.013%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0149%	1h	501.50	−0.037%	$27K	$102K	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.73	+0.008%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	+0.124%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.55	−0.028%	$97K	$109K	10x	as long as short