Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h +0.051%

Price spread now: Arcus against KuCoin+0.054%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1891.895% of the position

Long on KuCoin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.044%+$4 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now +0.054%, 7d avg +0.042%

Together, before fees−0.015%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.042%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	503.10	0.0100	pay 0.0100% / 8h	1h 02m	$1.6M	$60K	20x
Short	Arcus MSFT-USD	503.37	0.0040	get 0.0005% / 1h	2m 38s	$97K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$12.54
Price spread: +0.054% → +0.042%: $1.12
Slippage, 4 orders: −$172.99
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$200.91
Costs to cover: 1.895%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Arcus: live order book, 40 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 KuCoin live order book, 3 min ago	6.46 bp	106.1 bp −$106	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 40 min ago	3.38 bp	11.0 bp −$11	13.7 bp −$137	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	−0.0649%	4h	503.62	+0.103%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.111%	$682K	$499K	10x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	503.61	+0.101%	$190K	$207K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.33	+0.045%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.50	+0.080%	$341K	$1.3M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.65	+0.109%	$15.8M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.37	+0.054%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.71	+0.121%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.34	+0.048%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.58	+0.095%	$3.8M	$3.0M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.60	+0.099%	$1.3M	$414K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.59	+0.097%	$18K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.40	+0.258%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.42	+0.064%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.70	+0.119%	$2.2M	$823K	10x	as long as short
Nado MSFT-PERP	+0.0023%	1h	503.27	+0.034%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.38	+0.056%	$695K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.48	+0.076%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USDshort	+0.0040%	1h	503.37	+0.054%	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	503.63	+0.105%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.21	+0.022%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.27	+0.034%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.37	+0.054%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	+0.030%	$513K	$453K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.44	+0.068%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	+0.056%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	503.22	+0.024%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	503.10	long leg	$1.6M	$60K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.26	+0.032%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.49	+0.078%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.52	+0.083%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0108%	1h	503.36	+0.052%	$27K	$44K	10x	as long as short
Lighter MSFT	+0.0144%	1h	503.52	+0.083%	$1.2M	$533K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.98	+0.175%	$115K	$45K	30x	as long as short