Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SoDEX against KuCoin+0.066%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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. SoDEX is 0.066% dearer against KuCoin than usual: you sell high and buy low (spread +0.066% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	501.83	0.0100	pay 0.0100% / 8h	7h 48m	$1.5M	$19K	20x
Short	SoDEX MSFT-USD	502.16	0.0050	get 0.0006% / 1h	48m 31s	$60K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$10.5
Price spread: +0.066% → 0.000%: $6.58
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$23.92
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; SoDEX: 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, 7 min ago	8.48 bp	108.1 bp −$108	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
BloFin MSFT-USDT	−0.0010%	8h	502.22	+0.078%	$188K	$207K	20x	as long as short
Nado MSFT-PERP	−0.0010%	1h	501.85	+0.005%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.57	−0.052%	$680K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.07	+0.049%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.05	+0.043%	$342K	$532K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.14	+0.063%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.18	+0.070%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.35	+0.104%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.88	+0.010%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.17	+0.068%	$3.8M	$2.2M	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	502.14	+0.061%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.04	+0.041%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.01	+0.235%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.97	+0.028%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.09	+0.052%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.47	+0.128%	$2.2M	$753K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.00	+0.034%	$618K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	501.81	−0.004%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.98	+0.030%	$1.1M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.95	+0.024%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.80	−0.006%	$22.3M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.74	−0.018%	$303K	$673K	10x	as long as short
SoDEX MSFT-USDshort	+0.0050%	1h	502.16	+0.066%	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.59	−0.048%	$529K	$491K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	502.02	+0.038%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.96	+0.026%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0080%	1h	502.24	+0.082%	$1.1M	$486K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.83	long leg	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.87	+0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.04	+0.042%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.02	+0.039%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.99	+0.032%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.20	+0.074%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0477%	4h	501.98	+0.031%	$102K	$243K	10x	as long as short