Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Bitget against Extended−0.009%7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.009%, 7d avg +0.027%

Together, before fees+0.041%+ Points / potential airdropExtended: Active · farm board+$4 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: Bitget is 0.036% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.47	0	get 0.0000% / 1h	29m 51s	$342K	$894K	17x
Short	Bitget MSFTUSDT	501.42	0	get 0.0000% / 8h	6h 29m	$4.5M	$2.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.027%: −$3.58
Slippage, 4 orders: −$14.98
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$35.57
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Extended: live order book, 38 min ago; Bitget: live order book, 3 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, 38 min ago	0.70 bp	6.0 bp −$6	38.6 bp −$386	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.90 bp	10.4 bp −$10	14.8 bp −$148	33.4 bp −$3,336	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
edgeX MSFTUSDC	−0.0482%	4h	501.46	−0.001%	$102K	$243K	10x	as long as short
Hotstuff MSFT-PERP	−0.0040%	1h	501.12	−0.069%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.87	−0.119%	$684K	$451K	10x	as long as short
Nado MSFT-PERP	−0.0002%	1h	501.12	−0.069%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.48	+0.003%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.47	long leg	$342K	$894K	17x
Binance MSFTUSDT	0.0000%	8h	501.61	+0.030%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.40	−0.013%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.66	+0.039%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.38	−0.017%	$3.1M	$1.6M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDTshort	0.0000%	8h	501.42	−0.009%	$4.5M	$2.5M	100x
Variational Omni MSFT	0.0000%	8h	501.49	+0.004%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.44	−0.006%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.34	+0.174%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.20	−0.053%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.43	−0.007%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.71	+0.049%	$2.2M	$764K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.28	−0.037%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.42	−0.009%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.29	−0.035%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.30	−0.033%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.11	−0.071%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.17	−0.059%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.42	−0.009%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.06	−0.081%	$521K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.38	−0.017%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.23	−0.047%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.10	−0.073%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.15	−0.063%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.44	−0.005%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.44	−0.005%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.55	+0.017%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.62	+0.031%	$115K	$45K	30x	as long as short