Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.020%

Price spread now: tradeXYZ against Gate−0.028%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 7 days−0.053%−$5 · spread now −0.028%, 7d avg −0.097%

Together, before fees−0.021%+ Points / potential airdroptradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.069% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.88	0	get 0.0000% / 8h	1h 04m	$3.1M	$1.6M	100x
Short	tradeXYZ xyz:MSFT	501.74	0.0050	get 0.0006% / 1h	4m 11s	$22.3M	$9.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.028%Rate

Funding earned: $10.5
Price spread: −0.028% → −0.097%: $6.88
Slippage, 4 orders: −$9.49
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$25.11
Costs to cover: 0.425%
Break-even: 23.7 days

Slippage from Gate: live order book, 4 min ago; tradeXYZ: 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	1.39 bp	11.3 bp −$11	29.0 bp −$290	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.50 bp	10.2 bp −$10	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
BloFin MSFT-USDT	−0.0027%	8h	502.15	+0.054%	$188K	$209K	20x	as long as short
Nado MSFT-PERP	−0.0004%	1h	501.83	−0.010%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.12	+0.048%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.04	+0.032%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.15	+0.053%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.27	+0.078%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.88	long leg	$3.1M	$1.6M	100x
Bitget MSFTUSDT	0.0000%	8h	502.12	+0.048%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.09	+0.041%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.07	+0.037%	$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	502.91	+0.205%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.88	0.000%	$27K	$101K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.76	−0.024%	$687K	$450K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.03	+0.030%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.22	+0.068%	$2.2M	$755K	10x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.12	+0.048%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.00	+0.024%	$648K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.03	+0.030%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.91	+0.006%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTshort	+0.0050%	1h	501.74	−0.028%	$22.3M	$9.6M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	501.62	−0.052%	$305K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.05	+0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.73	−0.030%	$529K	$493K	15x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	501.74	−0.028%	$32K	$8K	20x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.98	+0.021%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.86	−0.004%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.66	−0.044%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.93	+0.010%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.96	+0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.03	+0.030%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	502.17	+0.058%	$1.1M	$591K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.99	+0.022%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.084%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0721%	4h	502.08	+0.040%	$102K	$243K	10x	as long as short