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: Gate against SunX−0.197%7-day average −0.200% · you buy dearer than you sell

Net, funding: paid 7d − costs−$238as in the Funding arb table

Net, price: spread back to 7d avg − costs−$240as in the Price arb table

costs, in and out, $10k−$2412.406% of the position

Long on SunX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.197%, 7d avg −0.200%

Together, before fees+0.015%+$2 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	502.50	0	get 0.0000% / 8h	6m 22s	$6K	$4.3M	20x
Short	Gate MSFT_USDT	501.51	0	get 0.0000% / 8h	6m 22s	$3.1M	$1.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.197%Rate

Funding earned: $0
Price spread: −0.197% → −0.200%: $0.31
Slippage, 4 orders: −$217.6
Fee SunX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$240.29
Costs to cover: 2.406%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; Gate: live order book, 2 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, 12 min ago	29.14 bp	108.7 bp −$109	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	3.09 bp	14.4 bp −$14	49.5 bp −$495	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	−0.0022%	1h	501.36	−0.228%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	501.26	−0.247%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.147%	$687K	$449K	10x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	501.78	−0.143%	$188K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.74	−0.151%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.63	−0.173%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.73	−0.153%	$15.6M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.85	−0.129%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	501.51	−0.197%	$3.1M	$1.7M	100x
Bitget MSFTUSDT	0.0000%	8h	501.76	−0.147%	$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	501.68	−0.164%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.83	−0.134%	$18K	$295K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	502.50	long leg	$6K	$4.3M	20x
HTX MSFT-USDT	0.0000%	8h	501.65	−0.169%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.01	−0.098%	$2.2M	$748K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0009%	1h	501.47	−0.205%	$27K	$102K	10x	as long as short
Bybit MSFTUSDT	+0.0030%	8h	501.83	−0.133%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.49	−0.201%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.55	−0.189%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.65	−0.169%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.27	−0.245%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.26	−0.247%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.64	−0.171%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.22	−0.255%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.58	−0.183%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.59	−0.181%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.23	−0.253%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.34	−0.231%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.64	−0.171%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.65	−0.169%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.73	−0.153%	$1.1M	$586K	20x	as long as short
edgeX MSFTUSDC	+0.0165%	4h	501.76	−0.148%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	−0.038%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.61	−0.177%	$97K	$109K	10x	as long as short