Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.009%

Price spread now: edgeX against BloFin−0.024%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on BloFin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.024%, 7d avg −0.019%

Together, before fees+0.002%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.053%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.053% in total (about 2.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSFT-USDT	501.40	−0.0022	get 0.0022% / 8h	4h 35m	$189K	$204K	20x
Short	edgeX MSFTUSDC	501.28	−0.0306	pay 0.0153% / 4h	35m 09s	$102K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against BloFin. 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 BloFinbpFee edgeXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$59.71
Price spread: −0.024% → −0.019%: −$0.51
Slippage, 4 orders: −$19.13
Fee BloFin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$100.35
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from BloFin: live order book, 63 min ago; edgeX: live order book, 22 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 BloFin live order book, 63 min ago	0.10 bp	12.8 bp −$13	17.0 bp −$170	doesn't fit	doesn't fit
Sell edgeX live order book, 22 min ago	5.59 bp	10.2 bp −$10	12.4 bp −$124	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 MSFTUSDCshort	−0.0306%	4h	501.28	−0.024%	$102K	$243K	10x
Hotstuff MSFT-PERP	−0.0064%	1h	500.91	−0.098%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.086%	$678K	$456K	10x	as long as short
BloFin MSFT-USDTlong	−0.0022%	8h	501.40	long leg	$189K	$204K	20x
Nado MSFT-PERP	−0.0020%	1h	501.04	−0.073%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.07	−0.065%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.23	−0.035%	$341K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.35	−0.010%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.06	−0.068%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.46	+0.012%	$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	501.16	−0.048%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.32	−0.016%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.34	−0.013%	$1.3M	$618K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.38	−0.004%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.14	+0.148%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.01	−0.078%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.21	−0.038%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.47	+0.014%	$2.2M	$779K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.14	−0.052%	$674K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.23	−0.034%	$1.2M	$5.5M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.10	−0.060%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.17	−0.046%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	−0.066%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.89	−0.102%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.93	−0.094%	$318K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.16	−0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.88	−0.104%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.25	−0.030%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.92	−0.096%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.96	−0.088%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.29	−0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.26	−0.028%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.36	−0.008%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.66	+0.052%	$115K	$45K	30x	as long as short