Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.016%

Price spread now: Deribit against Extended−0.012%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Extended Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.070%+$7 on $10k

Price spread, last 3 days (all we have)+0.070%+$7 · spread now −0.012%, 7d avg −0.017%

Together, before fees+0.140%+ Points / potential airdropExtended: Active · farm board+$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.62	0	get 0.0000% / 1h	24m 18s	$372K	$369K	17x
Short	Deribit MSFT_USDC-PERPETUAL	501.56	0	get 0.0000% / 1h	24m 18s	$27K	$104K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.012%Rate

Funding earned: $0
Price spread: −0.012% → −0.017%: $0.46
Slippage, 4 orders: −$11.34
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$22.88
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from Extended: live order book, 63 min ago; Deribit: live order book, 64 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, 63 min ago	0.20 bp	5.3 bp −$5	26.3 bp −$263	doesn't fit	doesn't fit
Sell Deribit live order book, 64 min ago	0.10 bp	3.6 bp −$4	4.7 bp −$47	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
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.53	−0.018%	$689K	$433K	10x	as long as short
Nado MSFT-PERP	−0.0024%	1h	501.49	−0.026%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.84	+0.044%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.62	long leg	$372K	$369K	17x
Binance MSFTUSDT	0.0000%	8h	501.66	+0.008%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.83	+0.041%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.81	+0.037%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.51	−0.022%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.69	+0.014%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.67	+0.009%	$1.3M	$726K	—	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	501.75	+0.025%	$18K	$330K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.42	+0.159%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUALshort	0.0000%	1h	501.56	−0.012%	$27K	$104K	10x
HTX MSFT-USDT	0.0000%	8h	501.48	−0.028%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.82	+0.039%	$2.2M	$762K	10x	as long as short
BloFin MSFT-USDT	+0.0006%	8h	501.65	+0.006%	$189K	$209K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.40	−0.044%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.69	+0.014%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.59	−0.006%	$652K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.70	+0.016%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.40	−0.044%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.28	−0.068%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.64	+0.004%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.69	+0.014%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.25	−0.074%	$521K	$485K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.69	+0.014%	$1.1M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.57	−0.010%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.27	−0.070%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.53	−0.018%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.59	−0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.65	+0.005%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.03	+0.081%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.53	−0.018%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0989%	4h	501.68	+0.012%	$102K	$242K	10x	as long as short