Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against Gate−0.020%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$450.445% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.018%−$2 on $10k

Price spread, last 7 days−0.051%−$5 · spread now −0.020%, 7d avg −0.012%

Together, before fees−0.069%−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.20	0	get 0.0000% / 8h	4h 29m	$3.1M	$1.7M	100x
Short	Bybit MSFTUSDT	501.10	0	get 0.0000% / 8h	4h 29m	$7.2M	$2.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.012%: −$0.78
Slippage, 4 orders: −$18.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.31
Costs to cover: 0.445%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	3.99 bp	12.0 bp −$12	34.4 bp −$344	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.10 bp	8.5 bp −$9	14.9 bp −$149	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	−0.0540%	4h	501.37	+0.035%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.046%	$678K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0013%	1h	501.08	−0.023%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	500.93	−0.054%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.16	−0.008%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.30	+0.020%	$341K	$888K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.43	+0.046%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDTshort	0.0000%	8h	501.10	−0.020%	$7.2M	$2.1M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.47	+0.054%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.20	long leg	$3.1M	$1.7M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.34	+0.028%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.37	+0.034%	$1.3M	$618K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.40	+0.040%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.21	+0.202%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.07	−0.026%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.30	+0.020%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.34	+0.028%	$2.2M	$778K	10x	as long as short
BloFin MSFT-USDT	+0.0029%	8h	501.48	+0.056%	$189K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.17	−0.006%	$674K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.31	+0.022%	$1.2M	$5.5M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.14	−0.012%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.21	+0.002%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.15	−0.010%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.94	−0.052%	$22.0M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.03	−0.034%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	+0.002%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.98	−0.044%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.28	+0.015%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.98	−0.044%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.00	−0.040%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.31	+0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.33	+0.027%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.42	+0.044%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.66	+0.092%	$115K	$45K	30x	as long as short