Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.006%

Price spread now: Coinbase International against Aster−0.041%7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$610.611% of the position

Long on Aster Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.169%+$17 · spread now −0.041%, 7d avg −0.129%

Together, before fees+0.115%+ Points / potential airdropAster: Stage 5 · farm board+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.088% dearer against Aster than usual: you sell high and buy low (spread −0.041% now, against its 7-day average of −0.129%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.6 days. At the pace of the last 7 days (−0.054% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	501.18	0	get 0.0000% / 8h	5h 03m	$161K	$116K	20x
Short	Coinbase International MSFT-PERP-INTX	500.97	−0.0064	pay 0.0008% / 1h	3m 38s	$678K	$458K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Aster. 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 AsterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$13.44
Price spread: −0.041% → −0.129%: $8.82
Slippage, 4 orders: −$43.15
Fee Aster: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$65.77
Costs to cover: 0.611%
Break-even: never at this rate

Slippage from Aster: live order book, 58 min ago; Coinbase International: live order book, 60 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 Aster live order book, 58 min ago	10.36 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 60 min ago	2.29 bp	7.3 bp −$7	9.9 bp −$99	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
Coinbase International MSFT-PERP-INTXshort	−0.0064%	1h	500.97	−0.041%	$678K	$458K	10x
Nado MSFT-PERP	−0.0034%	1h	500.79	−0.078%	$413K	$64K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.18	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	500.97	−0.042%	$337K	$888K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.10	−0.015%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.81	−0.073%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.19	+0.003%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	500.96	−0.043%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.07	−0.021%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	500.98	−0.040%	$1.3M	$647K	—	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	501.10	−0.015%	$19K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.89	+0.142%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.76	−0.083%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	500.94	−0.047%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.29	+0.023%	$2.2M	$774K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.15	−0.005%	$189K	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.07	−0.021%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.86	−0.063%	$682K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	500.84	−0.067%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	500.98	−0.039%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.70	−0.095%	$22.1M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.73	−0.089%	$301K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	500.97	−0.041%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.63	−0.109%	$515K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	500.97	−0.041%	$220	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	500.87	−0.061%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	500.70	−0.095%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.94	−0.047%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.58	−0.119%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	500.99	−0.037%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	500.95	−0.044%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.15	−0.005%	$1.1M	$479K	20x	as long as short
edgeX MSFTUSDC	+0.0179%	4h	501.04	−0.027%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.73	+0.111%	$115K	$45K	30x	as long as short