Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.022%

Price spread now: Extended against KuCoin+0.095%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$172as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1571.568% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.095%, 7d avg +0.055%

Together, before fees−0.209%+ Points / potential airdropExtended: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.040% dearer against KuCoin than usual: you sell high and buy low (spread +0.095% now, against its 7-day average of +0.055%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	501.54	0.0100	pay 0.0100% / 8h	22m 05s	$1.5M	$19K	20x
Short	Extended MSFT_24_5-USD	502.02	0	get 0.0000% / 1h	22m 05s	$337K	$392K	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$21
Price spread: +0.095% → +0.055%: $3.95
Slippage, 4 orders: −$139.75
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$173.8
Costs to cover: 1.568%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Extended: live order book, 55 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	7.08 bp	72.7 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 55 min ago	0.60 bp	5.8 bp −$6	28.4 bp −$284	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
Nado MSFT-PERP	−0.0019%	1h	501.80	+0.052%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.044%	$687K	$449K	10x	as long as short
BloFin MSFT-USDT	−0.0015%	8h	502.07	+0.106%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.20	+0.132%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	502.02	+0.095%	$337K	$392K	17x
Binance MSFTUSDT	0.0000%	8h	502.11	+0.114%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.134%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	501.63	+0.018%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.80	+0.052%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.14	+0.120%	$3.8M	$2.3M	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	501.99	+0.089%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.03	+0.098%	$19K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.87	+0.265%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.80	+0.052%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.03	+0.098%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.12	+0.116%	$2.2M	$747K	10x	as long as short
Bybit MSFTUSDT	+0.0031%	8h	502.16	+0.124%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.98	+0.088%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.93	+0.078%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.05	+0.102%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.65	+0.022%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.65	+0.022%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.02	+0.096%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.63	+0.018%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	502.00	+0.092%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.78	+0.048%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.54	long leg	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.59	+0.010%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.99	+0.090%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.04	+0.100%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	502.20	+0.132%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.37	+0.165%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.97	+0.086%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0346%	4h	502.02	+0.097%	$102K	$242K	10x	as long as short