Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Aster against Extended+0.014%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.014%, 7d avg +0.036%

Together, before fees+0.058%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.022% cheaper against Extended than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.37	0	get 0.0000% / 1h	16m 15s	$337K	$900K	17x
Short	Aster MSFTUSDT	501.44	0	get 0.0000% / 8h	7h 16m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → +0.036%: −$2.23
Slippage, 4 orders: −$37.84
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$53.07
Costs to cover: 0.508%
Break-even: never at this rate

Slippage from Extended: live order book, 7 min ago; Aster: live order book, 55 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 Extended live order book, 7 min ago	0.30 bp	5.6 bp −$6	33.7 bp −$337	doesn't fit	doesn't fit
Sell Aster live order book, 55 min ago	11.45 bp	16.7 bp −$17	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
edgeX MSFTUSDC	−0.0969%	4h	501.47	+0.019%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.027%	$685K	$453K	10x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	501.44	+0.014%	$161K	$116K	20x
Extended MSFT_24_5-USDlong	0.0000%	1h	501.37	long leg	$337K	$900K	17x
Binance MSFTUSDT	0.0000%	8h	501.51	+0.027%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.31	−0.013%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.44	+0.013%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.32	−0.011%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.55	+0.035%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.45	+0.014%	$1.3M	$690K	—	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	501.52	+0.029%	$19K	$290K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.30	+0.185%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.12	−0.051%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.45	+0.015%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.09	+0.143%	$2.2M	$761K	10x	as long as short
BloFin MSFT-USDT	+0.0011%	8h	501.48	+0.021%	$188K	$205K	20x	as long as short
Nado MSFT-PERP	+0.0014%	1h	501.11	−0.053%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.28	−0.019%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.39	+0.003%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.30	−0.015%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.11	−0.053%	$22.2M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.99	−0.077%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.35	−0.005%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.99	−0.077%	$514K	$503K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.36	−0.002%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.11	−0.053%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.29	−0.017%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.95	−0.085%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.35	−0.005%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.49	+0.023%	$1.1M	$486K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.37	−0.001%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0200%	1h	501.18	−0.039%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.34	−0.007%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.82	+0.089%	$115K	$45K	30x	as long as short