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% APRpaid last 24h −0.008%

Price spread now: Extended against Binance−0.026%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on Binance Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.026%, 7d avg −0.034%

Together, before fees−0.057%+ Points / potential airdropExtended: Active · farm board−$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	503.74	0	get 0.0000% / 8h	35m 52s	$15.8M	$19.1M	20x
Short	Extended MSFT_24_5-USD	503.61	0	get 0.0000% / 1h	35m 52s	$338K	$1.9M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.034%: $0.82
Slippage, 4 orders: −$8.9
Fee Binance: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$23.08
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Binance: live order book, 5 min ago; Extended: live order book, 3 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 Binance live order book, 5 min ago	0.10 bp	6.2 bp −$6	12.2 bp −$122	62.3 bp −$6,234	doesn't fit
Sell Extended live order book, 3 min ago	0.40 bp	5.7 bp −$6	36.6 bp −$366	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	−0.0470%	4h	503.71	−0.007%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0020%	1h	503.42	−0.064%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.74	0.000%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	503.61	−0.026%	$338K	$1.9M	17x
Binance MSFTUSDTlong	0.0000%	8h	503.74	long leg	$15.8M	$19.1M	20x
Bybit MSFTUSDT	0.0000%	8h	503.50	−0.048%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.89	+0.030%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.35	−0.077%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.65	−0.018%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.65	−0.019%	$1.3M	$407K	—	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	503.78	+0.007%	$19K	$324K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.55	+0.161%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.97	−0.153%	$682K	$454K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.59	−0.030%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.88	+0.028%	$2.2M	$820K	10x	as long as short
BloFin MSFT-USDT	+0.0012%	8h	503.79	+0.010%	$190K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.62	−0.024%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.53	−0.042%	$707K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.63	−0.022%	$1.2M	$4.6M	10x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	503.27	−0.093%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.47	−0.054%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.75	+0.002%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.24	−0.099%	$22.4M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.44	−0.060%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.47	−0.054%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.32	−0.083%	$513K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.62	−0.024%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.47	−0.054%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.12	−0.123%	$1.6M	$63K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.18	−0.111%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.67	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.68	−0.011%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.82	+0.214%	$116K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0286%	1h	503.60	−0.028%	$27K	$44K	10x	as long as short