Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Gate−0.018%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 3 days (all we have)−0.041%−$4 · spread now −0.018%, 7d avg −0.039%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and ApeX Omni is 0.021% dearer against Gate than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.99	0	get 0.0000% / 8h	51m 22s	$3.2M	$1.6M	100x
Short	ApeX Omni MSFTUSDT	501.90	0.0100	get 0.0013% / 1h	51m 22s	$160K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.018%Rate

Funding earned: $21
Price spread: −0.018% → −0.039%: $2.14
Slippage, 4 orders: −$21.59
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$23.45
Costs to cover: 0.466%
Break-even: 14.8 days

Slippage from Gate: live order book, 2 min ago; ApeX Omni: live order book, 25 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 Gate live order book, 2 min ago	0.20 bp	14.8 bp −$15	38.9 bp −$389	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 25 min ago	5.08 bp	10.1 bp −$10	60.6 bp −$606	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
Nado MSFT-PERP	−0.0035%	1h	502.00	+0.003%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.046%	$687K	$450K	10x	as long as short
BloFin MSFT-USDT	−0.0013%	8h	502.18	+0.038%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.17	+0.036%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.20	+0.042%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.26	+0.054%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.31	+0.064%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.99	long leg	$3.2M	$1.6M	100x
Bitget MSFTUSDT	0.0000%	8h	502.29	+0.060%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.05	+0.012%	$1.3M	$702K	—	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	502.12	+0.025%	$19K	$307K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.05	+0.211%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.03	+0.008%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.11	+0.024%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.28	+0.058%	$2.2M	$754K	10x	as long as short
Bybit MSFTUSDT	+0.0022%	8h	502.33	+0.068%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.17	+0.036%	$644K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.11	+0.024%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.18	+0.038%	$1.1M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.85	−0.028%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.78	−0.042%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.19	+0.040%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.87	−0.024%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	502.20	+0.042%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	501.87	−0.024%	$32K	$8K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.91	−0.016%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.64	−0.070%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDTshort	+0.0100%	1h	501.90	−0.018%	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.09	+0.020%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.15	+0.032%	$55	—	10x	as long as short
Lighter MSFT	+0.0144%	1h	502.37	+0.076%	$1.1M	$585K	20x	as long as short
edgeX MSFTUSDC	+0.0216%	4h	502.16	+0.033%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.36	+0.074%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.17	+0.036%	$98K	$108K	10x	as long as short