Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h −0.002%

Price spread now: Binance against Deribit+0.021%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Binance

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

The price spread pays, funding is against you. Binance is 0.021% dearer against Deribit than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSFT_USDC-PERPETUAL	501.64	0.0009	pay 0.0001% / 1h	19m 46s	$27K	$41K	10x
Short	Binance MSFTUSDT	501.75	0	get 0.0000% / 8h	6h 19m	$15.6M	$18.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.021%Rate

Funding earned: −$1.94
Price spread: +0.021% → 0.000%: $2.12
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$16.81
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 6 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	0.40 bp	7.2 bp −$7	12.8 bp −$128	46.9 bp −$4,687	doesn't fit

Deribit: 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 33 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	−0.0679%	4h	501.55	−0.018%	$102K	$242K	10x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	501.34	−0.060%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.22	−0.084%	$679K	$457K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.77	+0.026%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.62	−0.004%	$337K	$899K	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	501.75	+0.021%	$15.6M	$18.8M	20x
Bybit MSFTUSDT	0.0000%	8h	501.68	+0.008%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.90	+0.052%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.60	−0.008%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.66	+0.004%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.69	+0.010%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.56	−0.016%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.54	+0.179%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.64	0.000%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.99	+0.070%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERP	+0.0005%	1h	501.60	−0.009%	$414K	$64K	20x	as long as short
Deribit MSFT_USDC-PERPETUALlong	+0.0009%	1h	501.64	long leg	$27K	$41K	10x
Lighter RH MSFT	+0.0032%	1h	501.59	−0.010%	$622K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.61	−0.006%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.47	−0.034%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.63	−0.002%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.47	−0.034%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.41	−0.046%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.63	−0.002%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.29	−0.070%	$522K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.67	+0.006%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.33	−0.062%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.40	−0.048%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.080%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.69	+0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.66	+0.004%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.87	+0.046%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.028%	$115K	$45K	30x	as long as short