Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against SunX−0.167%50s7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$231as 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−$2332.330% of the position

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.167%, 7d avg −0.157%

Together, before fees−0.001%$0 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	502.58	0	get 0.0000% / 8h	7m 22s	$6K	$4.3M	20x
Short	Bitget MSFTUSDT	501.74	0	get 0.0000% / 8h	7m 22s	$3.8M	$2.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.167%Rate

Funding earned: $0
Price spread: −0.167% → −0.157%: −$0.99
Slippage, 4 orders: −$213
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$233.99
Costs to cover: 2.330%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Bitget: live order book, 5 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, 11 min ago	29.14 bp	108.7 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.20 bp	9.5 bp −$9	12.8 bp −$128	38.8 bp −$3,876	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	−0.0023%	1h	501.40	−0.235%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.163%	$687K	$449K	10x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	501.34	−0.247%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.74	−0.166%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.64	−0.188%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.72	−0.171%	$15.6M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.85	−0.145%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.47	−0.221%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	501.74	−0.167%	$3.8M	$2.3M	100x
Variational Omni MSFT	0.0000%	8h	501.83	−0.149%	$1.3M	$692K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.83	−0.150%	$18K	$295K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	502.58	long leg	$6K	$4.3M	20x
HTX MSFT-USDT	0.0000%	8h	501.61	−0.193%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.04	−0.107%	$2.2M	$749K	10x	as long as short
BloFin MSFT-USDT	+0.0015%	8h	501.92	−0.131%	$188K	$209K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0029%	1h	501.52	−0.211%	$27K	$102K	10x	as long as short
Bybit MSFTUSDT	+0.0029%	8h	501.84	−0.147%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.53	−0.209%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.54	−0.207%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.67	−0.181%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.30	−0.255%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.30	−0.255%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.70	−0.175%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.40	−0.235%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.64	−0.188%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.59	−0.197%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.18	−0.279%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.34	−0.247%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.64	−0.187%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.68	−0.179%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	501.77	−0.161%	$1.1M	$586K	20x	as long as short
edgeX MSFTUSDC	+0.0165%	4h	501.76	−0.164%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	−0.054%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.60	−0.195%	$97K	$109K	10x	as long as short