Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.008%

Price spread now: BloFin against tradeXYZ+0.133%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)+0.183%+$18 · spread now +0.133%, 7d avg +0.116%

Together, before fees+0.151%+ Points / potential airdroptradeXYZ: Active · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.116%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSFT	503.79	0.0050	pay 0.0006% / 1h	37m 15s	$22.4M	$8.9M	20x
Short	BloFin MSFT-USDT	504.46	−0.0017	pay 0.0017% / 8h	7h 37m	$192K	$205K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.133%Rate

Funding earned: −$14.02
Price spread: +0.133% → +0.116%: $1.74
Slippage, 4 orders: −$4.83
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$47.12
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; BloFin: live order book, 28 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 tradeXYZ live order book, 11 min ago	0.40 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 28 min ago	0.89 bp	7.9 bp −$8	10.4 bp −$104	25.0 bp −$2,498	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
Hotstuff MSFT-PERP	−0.0168%	1h	503.92	+0.026%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.83	+0.008%	$682K	$494K	10x	as long as short
Nado MSFT-PERP	−0.0055%	1h	504.16	+0.073%	$415K	$67K	20x	as long as short
BloFin MSFT-USDTshort	−0.0017%	8h	504.46	+0.133%	$192K	$205K	20x
Aster MSFTUSDT	0.0000%	8h	504.39	+0.120%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.32	+0.104%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.45	+0.131%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.14	+0.069%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.51	+0.143%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.16	+0.073%	$3.1M	$1.9M	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	504.51	+0.143%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.05	+0.052%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.34	+0.109%	$18K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.23	+0.286%	$6K	$3.6M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.32	+0.105%	$59K	$224K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.58	+0.157%	$2.2M	$830K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.13	+0.067%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.30	+0.101%	$1.1M	$4.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.26	+0.093%	$1.2M	$511K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.21	+0.083%	$696K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.18	+0.077%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.39	+0.119%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTlong	+0.0050%	1h	503.79	long leg	$22.4M	$8.9M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	503.67	−0.024%	$303K	$654K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.18	+0.077%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.11	+0.064%	$514K	$411K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.27	+0.095%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.94	+0.030%	$1.6M	$106K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.91	+0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.33	+0.107%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.24	+0.090%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0167%	1h	504.28	+0.097%	$27K	$44K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.94	+0.427%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0695%	4h	504.34	+0.109%	$103K	$243K	10x	as long as short