Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.081%

Price spread now: Gate against Arcus−0.012%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.155%−$15 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.012%, 7d avg −0.003%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.003%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	504.08	0.0040	pay 0.0005% / 1h	28m 01s	$97K	$110K	10x
Short	Gate MSFT_USDT	504.02	0	get 0.0000% / 8h	7h 28m	$3.1M	$1.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Arcus. 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 ArcusbpFee GatebpOrdersPrice spread, now −0.012%Rate

Funding earned: −$8.46
Price spread: −0.012% → −0.003%: −$0.9
Slippage, 4 orders: −$20.36
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$49.22
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Arcus: live order book, 5 min ago; Gate: 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 Arcus live order book, 5 min ago	3.27 bp	6.0 bp −$6	8.3 bp −$83	19.6 bp −$1,955	doesn't fit
Sell Gate live order book, 5 min ago	1.29 bp	13.2 bp −$13	53.8 bp −$538	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
edgeX MSFTUSDC	−0.0313%	4h	504.33	+0.050%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.83	−0.050%	$682K	$478K	10x	as long as short
Nado MSFT-PERP	−0.0031%	1h	503.96	−0.025%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.37	+0.058%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.12	+0.008%	$335K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.26	+0.036%	$15.9M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.05	−0.006%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.30	+0.044%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	504.02	−0.012%	$3.1M	$1.9M	100x
Bitget MSFTUSDT	0.0000%	8h	504.33	+0.050%	$3.9M	$2.9M	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	504.34	+0.052%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.31	+0.046%	$19K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.17	+0.216%	$6K	$3.5M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.56	+0.095%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.53	+0.089%	$2.2M	$837K	10x	as long as short
BloFin MSFT-USDT	+0.0008%	8h	504.36	+0.056%	$192K	$204K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	504.07	−0.002%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	503.84	−0.048%	$33K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.24	+0.032%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.00	−0.016%	$1.2M	$513K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.00	−0.016%	$699K	$1.9M	20x	as long as short
Arcus MSFT-USDlong	+0.0040%	1h	504.08	long leg	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	504.30	+0.044%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.77	−0.061%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.60	−0.095%	$303K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.09	+0.002%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.99	−0.018%	$514K	$395K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.13	+0.010%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.86	−0.044%	$1.6M	$112K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.83	−0.050%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.21	+0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.22	+0.029%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0167%	1h	504.11	+0.006%	$27K	$45K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.84	+0.349%	$116K	$45K	30x	as long as short