Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni+0.052%97s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$298as 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−$2962.960% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now +0.052%, 7d avg 0.000%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.052% dearer against ApeX Omni than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSFTUSDT	501.24	0.0100	pay 0.0013% / 1h	50m 01s	$160K	$7K	50x
Short	KuCoin MSFTUSDTM	501.50	0.0100	get 0.0100% / 8h	5h 50m	$1.5M	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against ApeX Omni. 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 ApeX OmnibpFee KuCoinbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → 0.000%: $5.22
Slippage, 4 orders: −$274.03
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$290.8
Costs to cover: 2.960%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 11 min ago; KuCoin: live order book, 6 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 ApeX Omni live order book, 11 min ago	5.09 bp	10.1 bp −$10	65.2 bp −$652	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	10.88 bp	162.9 bp −$163	doesn't fit	doesn't fit	doesn't fit

MSFT on 33 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	−0.0133%	1h	501.42	+0.036%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	0.000%	$679K	$456K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0005%	1h	501.14	−0.020%	$22.1M	$9.1M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.68	+0.088%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.47	+0.045%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.60	+0.072%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.64	+0.080%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.76	+0.104%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.41	+0.034%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.59	+0.070%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.49	+0.049%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	+0.078%	$18K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.36	+0.223%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.27	+0.006%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.46	+0.044%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.71	+0.094%	$2.2M	$762K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.45	+0.042%	$1.1M	$5.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.65	+0.082%	$1.1M	$454K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.39	+0.030%	$665K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	501.14	−0.020%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.40	+0.032%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.60	+0.072%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.15	−0.018%	$303K	$646K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.49	+0.050%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.13	−0.022%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.45	+0.042%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.46	+0.044%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	501.50	+0.052%	$1.5M	$19K	20x
ApeX Omni MSFTUSDTlong	+0.0100%	1h	501.24	long leg	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.47	+0.046%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	+0.042%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.126%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0799%	4h	501.52	+0.056%	$102K	$243K	10x	as long as short