Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bitget−0.057%7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$430.431% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.057%, 7d avg −0.028%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.030% cheaper against Bitget than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	504.83	0	get 0.0000% / 8h	7h 00m	$3.9M	$2.8M	100x
Short	Gate MSFT_USDT	504.54	0	get 0.0000% / 8h	7h 00m	$3.1M	$1.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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 BitgetbpFee GatebpOrdersPrice spread, now −0.057%Rate

Funding earned: $0
Price spread: −0.057% → −0.028%: −$2.98
Slippage, 4 orders: −$16.05
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$46.03
Costs to cover: 0.431%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Gate: 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 Bitget live order book, 2 min ago	1.49 bp	8.2 bp −$8	10.7 bp −$107	34.9 bp −$3,487	doesn't fit
Sell Gate live order book, 3 min ago	2.88 bp	11.8 bp −$12	64.7 bp −$647	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	−0.0838%	4h	504.53	−0.060%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	504.35	−0.095%	$693K	$455K	10x	as long as short
Nado MSFT-PERP	−0.0007%	1h	504.49	−0.068%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.79	−0.008%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.70	−0.027%	$326K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.85	+0.004%	$16.3M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.55	−0.055%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.87	+0.008%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	504.54	−0.057%	$3.1M	$1.9M	100x
Bitget MSFTUSDTlong	0.0000%	8h	504.83	long leg	$3.9M	$2.8M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	504.71	−0.023%	$1.3M	$394K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	505.55	+0.143%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.45	−0.075%	$27K	$45K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.66	−0.034%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	505.21	+0.075%	$2.2M	$864K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.31	−0.103%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.71	−0.024%	$1.1M	$4.6M	10x	as long as short
BloFin MSFT-USDT	+0.0026%	8h	504.81	−0.004%	$190K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	504.62	−0.042%	$1.2M	$535K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.65	−0.036%	$712K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.66	−0.034%	$95K	$114K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.66	−0.034%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.34	−0.097%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.46	−0.073%	$304K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.55	−0.055%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.34	−0.097%	$537K	$386K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0061%	8h	504.64	−0.038%	$222	—	5x	as long as short
GRVT MSFT_USDT_Perp	+0.0072%	8h	504.59	−0.047%	$19K	$312K	10x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	504.33	−0.099%	$33K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	504.16	−0.133%	$1.6M	$141K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.14	−0.137%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.72	−0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.62	−0.042%	$56	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.86	+0.204%	$116K	$45K	30x	as long as short