Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0129%/8h= −14.1% APRpaid last 24h −0.025%

Price spread now: edgeX against KuCoin+0.070%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1801.796% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.070%, 7d avg +0.071%

Together, before fees−0.105%+ Points / potential airdropedgeX: Active · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.071%, so right now this pair is about funding alone: −$4 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	501.15	0.0100	pay 0.0100% / 8h	4h 16m	$1.5M	$20K	20x
Short	edgeX MSFTUSDC	501.50	−0.0029	pay 0.0014% / 4h	16m 46s	$102K	$244K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$26.99
Price spread: +0.070% → +0.071%: −$0.11
Slippage, 4 orders: −$158.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$206.69
Costs to cover: 1.796%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; edgeX: 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, 4 min ago	9.48 bp	81.4 bp −$81	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 40 min ago	5.59 bp	10.2 bp −$10	12.4 bp −$124	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	−0.036%	$678K	$455K	10x	as long as short
edgeX MSFTUSDCshort	−0.0029%	4h	501.50	+0.070%	$102K	$244K	10x
BloFin MSFT-USDT	−0.0021%	8h	501.53	+0.076%	$189K	$204K	20x	as long as short
Nado MSFT-PERP	−0.0007%	1h	501.29	+0.029%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.27	+0.024%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.48	+0.065%	$337K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.61	+0.092%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.20	+0.010%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.57	+0.084%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.32	+0.034%	$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	501.49	+0.068%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.48	+0.066%	$1.3M	$615K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.52	+0.074%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.37	+0.243%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.51	+0.072%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.60	+0.090%	$2.2M	$768K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.34	+0.038%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.46	+0.062%	$1.2M	$5.2M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.26	+0.022%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.43	+0.056%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.19	+0.008%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.00	−0.030%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.20	+0.010%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.35	+0.040%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.10	−0.010%	$528K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.43	+0.056%	$221	—	5x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.15	long leg	$1.5M	$20K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.19	+0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.43	+0.056%	$8K	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0104%	1h	501.05	−0.020%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.43	+0.057%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.59	+0.088%	$1.1M	$499K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0129%	1h	501.40	+0.050%	$27K	$41K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.63	+0.096%	$115K	$45K	30x	as long as short