Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Aster+0.034%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1041.044% of the position

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)+0.037%+$4 · spread now +0.034%, 7d avg +0.029%

Together, before fees+0.011%+ Points / potential airdropAster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	502.12	0	get 0.0000% / 8h	7h 51m	$161K	$116K	20x
Short	Phemex MSFTUSDT	502.29	0	get 0.0000% / 8h	7h 51m	$2.2M	$753K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.034%Rate

Funding earned: $0
Price spread: +0.034% → +0.029%: $0.53
Slippage, 4 orders: −$84.37
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$103.84
Costs to cover: 1.044%
Break-even: never at this rate

Slippage from Aster: live order book, 20 min ago; Phemex: 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 Aster live order book, 20 min ago	11.45 bp	23.1 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.20 bp	33.6 bp −$34	doesn't fit	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	−0.0014%	1h	501.88	−0.048%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.57	−0.109%	$680K	$450K	10x	as long as short
BloFin MSFT-USDT	−0.0005%	8h	502.14	+0.005%	$188K	$207K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	502.12	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	502.11	−0.002%	$337K	$426K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.20	+0.017%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.17	+0.011%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.019%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	501.84	−0.055%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.92	−0.039%	$3.1M	$1.6M	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	502.05	−0.013%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.97	−0.030%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.04	−0.016%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.87	+0.150%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.82	−0.059%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.85	−0.053%	$58K	$228K	20x	as long as short
Phemex MSFTUSDTshort	0.0000%	8h	502.29	+0.034%	$2.2M	$753K	10x
Lighter RH MSFT	+0.0032%	1h	501.99	−0.025%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	502.02	−0.019%	$1.1M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.09	−0.005%	—	$1K	25x	as long as short
Lighter MSFT	+0.0048%	1h	502.25	+0.026%	$1.1M	$486K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.85	−0.053%	$22.3M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.68	−0.087%	$303K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.09	−0.005%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.60	−0.103%	$529K	$490K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.07	−0.010%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.83	−0.057%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.76	−0.071%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.61	−0.101%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.99	−0.025%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.86	−0.051%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.92	−0.039%	$97K	$110K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.20	+0.017%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0477%	4h	501.98	−0.026%	$102K	$243K	10x	as long as short