Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: Binance against SunX−0.157%56s7-day average −0.152% · you buy dearer than you sell

Net, funding: paid 7d − costs−$225as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2282.282% of the position

Long on SunX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.157%, 7d avg −0.152%

Together, before fees+0.070%+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	502.10	0	get 0.0000% / 8h	4h 00m	$6K	$4.0M	20x
Short	Binance MSFTUSDT	501.31	0	get 0.0000% / 8h	4h 00m	$15.8M	$19.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against SunX. 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 SunXbpFee BinancebpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → −0.152%: −$0.56
Slippage, 4 orders: −$210.2
Fee SunX: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$228.76
Costs to cover: 2.282%
Break-even: never at this rate

Slippage from SunX: live order book, 8 min ago; Binance: live order book, 11 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 SunX live order book, 8 min ago	29.37 bp	112.1 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.10 bp	6.1 bp −$6	9.4 bp −$94	39.4 bp −$3,942	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	−0.0370%	4h	501.29	−0.162%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.225%	$677K	$451K	10x	as long as short
Nado MSFT-PERP	−0.0028%	1h	501.18	−0.184%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0006%	8h	501.36	−0.147%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.19	−0.182%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.17	−0.185%	$337K	$890K	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	501.31	−0.157%	$15.8M	$19.0M	20x
Bybit MSFTUSDT	0.0000%	8h	500.99	−0.221%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.27	−0.165%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.16	−0.187%	$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	501.29	−0.161%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	−0.166%	$1.3M	$609K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.29	−0.161%	$19K	$301K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	502.10	long leg	$6K	$4.0M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.99	−0.221%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.25	−0.169%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.37	−0.145%	$2.2M	$769K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.05	−0.209%	$677K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.24	−0.171%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.05	−0.209%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.33	−0.153%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.11	−0.197%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.84	−0.251%	$22.0M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.96	−0.227%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.19	−0.181%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.94	−0.231%	$527K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.20	−0.180%	$221	—	5x	as long as short
Lighter MSFT	+0.0080%	1h	501.30	−0.159%	$1.1M	$499K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.92	−0.235%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.08	−0.203%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.19	−0.181%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.19	−0.182%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0144%	1h	500.89	−0.241%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.70	+0.119%	$115K	$45K	30x	as long as short