Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: Deribit against KuCoin+0.072%7-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 Deribit

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

The price spread pays, funding is against you. Deribit is 0.072% dearer against KuCoin than usual: you sell high and buy low (spread +0.072% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	502.09	0.0100	pay 0.0100% / 8h	3h 25m	$1.6M	$53K	20x
Short	Deribit MSFT_USDC-PERPETUAL	502.45	0	get 0.0000% / 1h	25m 10s	$27K	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$21
Price spread: +0.072% → 0.000%: $7.17
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$32.83
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 6 min ago; Deribit: 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, 6 min ago	10.17 bp	36.3 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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 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
Nado MSFT-PERP	−0.0103%	1h	502.55	+0.091%	$415K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.223%	$677K	$447K	10x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	502.76	+0.133%	$189K	$204K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0007%	1h	502.29	+0.040%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.51	+0.083%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.57	+0.095%	$339K	$884K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.73	+0.128%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.49	+0.080%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.81	+0.143%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.50	+0.082%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	502.63	+0.108%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.37	+0.056%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.17	+0.017%	$19K	$297K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.52	+0.285%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUALshort	0.0000%	1h	502.45	+0.072%	$27K	$42K	10x
HTX MSFT-USDT	0.0000%	8h	502.60	+0.102%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.86	+0.153%	$2.2M	$780K	10x	as long as short
Lighter MSFT	+0.0032%	1h	502.74	+0.129%	$1.1M	$503K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.50	+0.082%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	502.58	+0.098%	$1.2M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.06	−0.006%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.68	+0.118%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.61	−0.096%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.28	+0.038%	$303K	$701K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.61	+0.104%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	502.51	+0.084%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.96	−0.026%	$511K	$461K	15x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	502.30	+0.042%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	502.09	long leg	$1.6M	$53K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	502.18	+0.018%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.53	+0.088%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.56	+0.094%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.14	+0.010%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0614%	4h	502.32	+0.045%	$102K	$242K	10x	as long as short