Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Extended against Gate−0.009%7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now −0.009%, 7d avg +0.014%

Together, before fees−0.027%+ Points / potential airdropExtended: Active · farm board−$3 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: Extended is 0.023% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.05	0	get 0.0000% / 8h	4h 50m	$3.1M	$1.7M	100x
Short	Extended MSFT_24_5-USD	501.00	0	get 0.0000% / 1h	50m 59s	$341K	$893K	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.014%: −$2.34
Slippage, 4 orders: −$15.86
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$38.2
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Extended: live order book, 7 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	3.99 bp	11.9 bp −$12	30.2 bp −$302	doesn't fit	doesn't fit
Sell Extended live order book, 7 min ago	0.60 bp	5.7 bp −$6	32.9 bp −$329	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	500.97	−0.016%	$678K	$458K	10x	as long as short
Nado MSFT-PERP	−0.0040%	1h	500.97	−0.017%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.22	+0.034%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	501.00	−0.009%	$341K	$893K	17x
Binance MSFTUSDT	0.0000%	8h	501.14	+0.018%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.93	−0.024%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.24	+0.038%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.05	long leg	$3.1M	$1.7M	100x
Bitget MSFTUSDT	0.0000%	8h	501.16	+0.022%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.05	−0.001%	$1.3M	$617K	—	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	501.19	+0.029%	$19K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.90	+0.170%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.78	−0.054%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.04	−0.002%	$58K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.29	+0.048%	$2.2M	$771K	10x	as long as short
BloFin MSFT-USDT	+0.0005%	8h	501.14	+0.018%	$190K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.91	−0.028%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.09	+0.008%	$1.1M	$5.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	500.90	−0.030%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.13	+0.016%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	500.83	−0.044%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.74	−0.062%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.76	−0.058%	$301K	$647K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.00	−0.010%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.77	−0.056%	$516K	$442K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.02	−0.006%	$220	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	500.76	−0.058%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.82	−0.046%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.69	−0.072%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.02	−0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.02	−0.006%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.20	+0.030%	$1.1M	$479K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.34	+0.058%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0290%	4h	501.08	+0.006%	$102K	$243K	10x	as long as short