Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1008%/8h= −110.3% APRpaid last 24h −0.054%

Price spread now: Coinbase International against edgeX−0.127%7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 3 days (all we have)+0.074%+$7 · spread now −0.127%, 7d avg −0.112%

Together, before fees−0.121%+ Points / potential airdropedgeX: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.112%, so right now this pair is about funding alone: −$30 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.194% in total (about -10.1% 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	501.51	0.0992	pay 0.0496% / 4h	2h 25m	$102K	$242K	10x
Short	Coinbase International MSFT-PERP-INTX	500.87	−0.0016	pay 0.0002% / 1h	25m 25s	$684K	$451K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$211.58
Price spread: −0.127% → −0.112%: −$1.49
Slippage, 4 orders: −$16.63
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$248.7
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from edgeX: live order book, 42 min ago; Coinbase International: live order book, 43 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, 42 min ago	5.19 bp	9.8 bp −$10	12.1 bp −$121	doesn't fit	doesn't fit
Sell Coinbase International live order book, 43 min ago	1.80 bp	8.2 bp −$8	10.8 bp −$108	doesn't fit	doesn't fit

MSFT on 33 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
Coinbase International MSFT-PERP-INTXshort	−0.0016%	1h	500.87	−0.127%	$684K	$451K	10x
Aster MSFTUSDT	0.0000%	8h	501.48	−0.005%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.48	−0.004%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.63	+0.024%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.49	−0.003%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.68	+0.035%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.38	−0.025%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.44	−0.013%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.54	+0.006%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.52	+0.003%	$18K	$295K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.39	+0.176%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.45	−0.011%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.64	+0.027%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERP	+0.0008%	1h	501.26	−0.050%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.42	−0.017%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.46	−0.009%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.35	−0.031%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.34	−0.033%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.14	−0.073%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.13	−0.075%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.23	−0.055%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.49	−0.003%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.15	−0.071%	$521K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.47	−0.007%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.33	−0.035%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.15	−0.071%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.07	−0.087%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.43	−0.015%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.48	−0.006%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0129%	1h	501.39	−0.023%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0176%	1h	501.69	+0.037%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.62	+0.023%	$115K	$45K	30x	as long as short
edgeX MSFTUSDClong	+0.0992%	4h	501.51	long leg	$102K	$242K	10x