Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.020%

Price spread now: Aevo against Binance−0.026%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.026% cheaper against Binance than usual: you would sell low and buy high (spread −0.026% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 20 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	501.43	0	get 0.0000% / 8h	3h 46m	$15.8M	$19.0M	20x
Short	Aevo MSFT-PERP	501.30	0.0104	get 0.0013% / 1h	46m 19s	$55	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Binance. 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 BinancebpFee AevobpOrdersPrice spread, now −0.026%Rate

Funding earned: $21.84
Price spread: −0.026% → 0.000%: −$2.64
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$6.8
Costs to cover: 0.260%
Break-even: 9.2 days

Slippage unknown: Binance: live order book, 10 min ago; Aevo: no order-book sample. Net counts fees only.

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 Binance live order book, 10 min ago	0.10 bp	6.5 bp −$6	11.1 bp −$111	45.2 bp −$4,516	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0117%	1h	501.29	−0.027%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.092%	$677K	$450K	10x	as long as short
BloFin MSFT-USDT	−0.0027%	8h	501.46	+0.006%	$189K	$204K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0023%	1h	500.97	−0.092%	$22.1M	$8.7M	20x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	500.90	−0.106%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.25	−0.035%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.28	−0.030%	$337K	$883K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	501.43	long leg	$15.8M	$19.0M	20x
Bybit MSFTUSDT	0.0000%	8h	501.17	−0.052%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.54	+0.022%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.21	−0.044%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.30	−0.026%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	−0.032%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.14	−0.058%	$19K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.17	+0.148%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.19	−0.048%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.34	−0.018%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.44	+0.002%	$2.2M	$770K	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.40	−0.006%	$1.1M	$503K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.18	−0.050%	$676K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.27	−0.032%	$1.2M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.08	−0.070%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.28	−0.030%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	500.98	−0.090%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.99	−0.088%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.20	−0.046%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.89	−0.108%	$518K	$451K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	501.31	−0.023%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.75	−0.136%	$1.6M	$52K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.78	−0.130%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.28	−0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERPshort	+0.0104%	1h	501.30	−0.026%	$55	—	10x
edgeX MSFTUSDC	+0.0213%	4h	501.28	−0.030%	$102K	$244K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.54	+0.022%	$115K	$45K	30x	as long as short