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: OKX against Bitget+0.010%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Bitget Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days+0.027%+$3 · spread now +0.010%, 7d avg +0.004%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	504.24	0	get 0.0000% / 8h	2h 07m	$3.8M	$3.0M	100x
Short	OKX MSFT-USDT-SWAP	504.29	0	get 0.0000% / 8h	2h 07m	$3.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.004%: $0.62
Slippage, 4 orders: −$10.6
Fee Bitget: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.98
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; OKX: live order book, 5 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, 1 min ago	0.30 bp	10.6 bp −$11	13.3 bp −$133	33.3 bp −$3,332	doesn't fit
Sell OKX live order book, 5 min ago	0.10 bp	8.6 bp −$9	14.9 bp −$149	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	−0.0903%	4h	504.37	+0.025%	$103K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.76	−0.095%	$684K	$493K	10x	as long as short
Nado MSFT-PERP	−0.0019%	1h	503.93	−0.061%	$415K	$68K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	503.81	−0.085%	$33K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.95	−0.057%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.18	−0.013%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.29	+0.010%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.00	−0.048%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	504.29	+0.010%	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	503.98	−0.052%	$3.1M	$1.8M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDTlong	0.0000%	8h	504.24	long leg	$3.8M	$3.0M	100x
Variational Omni MSFT	0.0000%	8h	504.20	−0.009%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.28	+0.008%	$19K	$323K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.02	+0.155%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.16	−0.016%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.46	+0.044%	$2.2M	$814K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.87	−0.073%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0021%	8h	504.36	+0.024%	$189K	$207K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.05	−0.038%	$712K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.18	−0.012%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.99	−0.050%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.13	−0.022%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.79	−0.089%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.90	−0.067%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.11	−0.026%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.83	−0.081%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	504.16	−0.017%	$222	—	5x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0087%	1h	504.02	−0.044%	$27K	$43K	10x	as long as short
Lighter MSFT	+0.0088%	1h	504.26	+0.004%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.66	−0.115%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.79	−0.089%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.10	−0.028%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.15	−0.018%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.48	+0.048%	$116K	$45K	30x	as long as short