Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Binance against Extended+0.074%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.074%, 7d avg +0.033%

Together, before fees+0.088%+ Points / potential airdropExtended: Active · farm board+$9 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: Binance is 0.040% dearer against Extended than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	503.02	0	get 0.0000% / 1h	57m 24s	$326K	$1.9M	17x
Short	Binance MSFTUSDT	503.39	0	get 0.0000% / 8h	5h 57m	$16.3M	$20.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.074%Rate

Funding earned: $0
Price spread: +0.074% → +0.033%: $4.02
Slippage, 4 orders: −$8.57
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$19.54
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Binance: live order book, 7 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, 4 min ago	0.10 bp	5.4 bp −$5	37.8 bp −$378	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.10 bp	6.7 bp −$7	7.3 bp −$73	33.9 bp −$3,391	doesn't fit

MSFT on 34 exchanges

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
Hotstuff MSFT-PERP	−0.1600%	1h	503.33	+0.062%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0020%	1h	502.92	−0.020%	$410K	$72K	20x	as long as short
BloFin MSFT-USDT	−0.0006%	8h	503.77	+0.149%	$202K	$211K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.17	+0.229%	$166K	$118K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	503.02	long leg	$326K	$1.9M	17x
Binance MSFTUSDTshort	0.0000%	8h	503.39	+0.074%	$16.3M	$20.9M	20x
Bybit MSFTUSDT	0.0000%	8h	503.12	+0.020%	$7.3M	$2.3M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.10	+0.016%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.20	+0.036%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.63	+0.121%	$1.3M	$392K	—	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	503.90	+0.175%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.83	−0.038%	$30K	$47K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.40	−0.123%	$703K	$521K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.98	−0.008%	$48K	$246K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.46	+0.088%	$2.3M	$905K	10x	as long as short
edgeX MSFTUSDC	+0.0002%	4h	503.56	+0.107%	$102K	$244K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0002%	1h	502.82	−0.040%	$22.5M	$9.2M	20x	as long as short
Lighter MSFT	+0.0032%	1h	502.95	−0.014%	$1.2M	$480K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.92	−0.020%	$691K	$1.8M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.14	+0.024%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.47	−0.109%	$11K	$5K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.01	−0.002%	$318K	$677K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.99	−0.006%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.31	−0.141%	$532K	$382K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	502.92	−0.020%	$221	—	5x	as long as short
QFEX MSFT-USD	+0.0058%	1h	502.97	−0.010%	$1.1M	$4.7M	10x	as long as short
OKX MSFT-USDT-SWAP	+0.0062%	8h	503.38	+0.072%	$3.2M	$2.7M	20x	as long as short
GRVT MSFT_USDT_Perp	+0.0075%	8h	503.75	+0.145%	$18K	$317K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.19	+0.034%	$1.6M	$214K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.07	+0.010%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.38	+0.072%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.27	+0.051%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	503.02	0.000%	$93K	$83K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.07	+0.209%	$115K	$45K	30x	as long as short