Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against KuCoin+0.020%57s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.020% dearer against KuCoin than usual: you sell high and buy low, +$2 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	501.34	0.0100	pay 0.0100% / 8h	5h 58m	$1.5M	$19K	20x
Short	Aevo MSFT-PERP	501.44	0.0104	get 0.0013% / 1h	58m 30s	$55	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against KuCoin. 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 KuCoinbpFee AevobpOrdersPrice spread, now +0.020%Rate

Funding earned: $0.84
Price spread: +0.020% → 0.000%: $2.02
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$25.14
Costs to cover: 0.280%
Break-even: 216.5 days

Slippage unknown: KuCoin: live order book, 2 min ago; Aevo: no order-book sample. Net counts fees only.

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 KuCoin live order book, 2 min ago	10.88 bp	74.3 bp −$74	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MSFT on 33 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	−0.0623%	4h	501.59	+0.050%	$102K	$244K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0229%	1h	501.21	−0.026%	$27K	$41K	10x	as long as short
Nado MSFT-PERP	−0.0161%	1h	501.52	+0.035%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.020%	$679K	$457K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.77	+0.085%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.50	+0.031%	$337K	$889K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.63	+0.058%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.68	+0.068%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.69	+0.070%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.40	+0.012%	$3.1M	$1.6M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.61	+0.054%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.60	+0.051%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.58	+0.048%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.34	+0.199%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.45	+0.022%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.71	+0.074%	$2.2M	$763K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.48	+0.028%	$651K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.44	+0.020%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.41	+0.014%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.52	+0.036%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.22	−0.024%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.30	−0.008%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.22	−0.024%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.48	+0.028%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.21	−0.026%	$522K	$483K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.56	+0.044%	$221	—	5x	as long as short
Lighter MSFT	+0.0072%	1h	501.73	+0.078%	$1.1M	$454K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.41	+0.014%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.34	long leg	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.22	−0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.47	+0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERPshort	+0.0104%	1h	501.44	+0.020%	$55	—	10x
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.106%	$115K	$45K	30x	as long as short