Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.022%

Price spread now: KuCoin against Extended−0.106%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$177as in the Price arb table

costs, in and out, $10k−$1721.715% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.106%, 7d avg −0.055%

Together, before fees+0.214%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.051% cheaper against Extended than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of −0.055%). If the spread goes back, that is −$5 on $10k: about 40 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.98	0	get 0.0000% / 1h	14m 24s	$337K	$392K	17x
Short	KuCoin MSFTUSDTM	501.45	0.0100	get 0.0100% / 8h	1h 14m	$1.5M	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.106%Rate

Funding earned: $21
Price spread: −0.106% → −0.055%: −$5.06
Slippage, 4 orders: −$154.52
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$155.58
Costs to cover: 1.715%
Break-even: 58.9 days

Slippage from Extended: live order book, 3 min ago; KuCoin: live order book, 1 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, 3 min ago	0.60 bp	5.7 bp −$6	27.4 bp −$274	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	7.48 bp	70.8 bp −$71	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	−0.0524%	4h	502.09	+0.022%	$102K	$244K	10x	as long as short
BloFin MSFT-USDT	−0.0025%	8h	502.11	+0.026%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.08	+0.020%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.98	long leg	$337K	$392K	17x
Binance MSFTUSDT	0.0000%	8h	502.08	+0.020%	$15.7M	$19.2M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.97	−0.002%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.84	−0.028%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.10	+0.024%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.04	+0.012%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.07	+0.018%	$19K	$309K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.84	+0.171%	$6K	$4.3M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.080%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.93	−0.010%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.28	+0.060%	$2.2M	$758K	10x	as long as short
Nado MSFT-PERP	+0.0005%	1h	501.71	−0.054%	$414K	$64K	20x	as long as short
Bybit MSFTUSDT	+0.0019%	8h	502.12	+0.028%	$7.4M	$1.7M	100x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.60	−0.076%	$32K	$8K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.86	−0.024%	$652K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.98	0.000%	$1.2M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.92	−0.012%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.60	−0.076%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.60	−0.076%	$305K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.97	−0.002%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.67	−0.062%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.88	−0.019%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.78	−0.040%	$10K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	501.82	−0.032%	$27K	$101K	10x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	501.45	−0.106%	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.94	−0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.95	−0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.01	+0.005%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	502.04	+0.012%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.88	−0.020%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.064%	$115K	$45K	30x	as long as short