Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.091%

Price spread now: KuCoin against edgeX−0.115%83s7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1411.405% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$16 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.115%, 7d avg −0.072%

Together, before fees+0.253%+ Points / potential airdropedgeX: Active · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.043% cheaper against edgeX than usual: you would sell low and buy high (spread −0.115% now, against its 7-day average of −0.072%). If the spread goes back, that is −$4 on $10k: about 2.2 days of funding at the current rate (+$2 a day). The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	503.49	0.0036	pay 0.0018% / 4h	18m 11s	$102K	$243K	10x
Short	KuCoin MSFTUSDTM	502.91	0.0100	get 0.0100% / 8h	18m 11s	$1.6M	$68K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.115%Rate

Funding earned: $13.44
Price spread: −0.115% → −0.072%: −$4.32
Slippage, 4 orders: −$119.51
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$131.38
Costs to cover: 1.405%
Break-even: 75.4 days

Slippage from edgeX: live order book, 19 min ago; KuCoin: live order book, 8 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, 19 min ago	5.26 bp	10.0 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	5.67 bp	81.1 bp −$81	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
Deribit MSFT_USDC-PERPETUAL	−0.0207%	1h	503.20	−0.057%	$27K	$44K	10x	as long as short
Nado MSFT-PERP	−0.0045%	1h	503.46	−0.006%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.71	+0.044%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.52	+0.007%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.64	+0.029%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.25	−0.047%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.66	+0.034%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.39	−0.020%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.62	+0.026%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.52	+0.006%	$1.3M	$404K	—	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	503.57	+0.016%	$19K	$322K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.41	+0.183%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.16	−0.065%	$681K	$447K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.54	+0.010%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.75	+0.052%	$2.2M	$817K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0003%	1h	503.15	−0.067%	$22.4M	$8.9M	20x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	503.64	+0.030%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.47	−0.004%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.42	−0.014%	$708K	$1.9M	20x	as long as short
edgeX MSFTUSDClong	+0.0036%	4h	503.49	long leg	$102K	$243K	10x
QFEX MSFT-USD	+0.0037%	1h	503.49	0.000%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.33	−0.032%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.77	+0.056%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.26	−0.045%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.41	−0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.24	−0.049%	$512K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.52	+0.007%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	−0.022%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	502.91	−0.115%	$1.6M	$68K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.37	−0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.44	−0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.48	−0.001%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	503.18	−0.061%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.86	+0.272%	$116K	$45K	30x	as long as short