Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0578%/8h= +63.3% APRpaid last 24h +0.075%

Price spread now: BloFin against edgeX+0.037%7-day average +0.019% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on edgeX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.037%, 7d avg +0.019%

Together, before fees+0.023%+ Points / potential airdropedgeX: Active · farm board+$2 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: +$17 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.010% in total (about 0.5% 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	edgeX MSFTUSDC	504.01	−0.0595	get 0.0298% / 4h	2h 26m	$103K	$242K	10x
Short	BloFin MSFT-USDT	504.20	−0.0017	pay 0.0017% / 8h	2h 26m	$189K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against edgeX. 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 edgeXbpFee BloFinbpOrdersPrice spread, now +0.037%Rate

Funding earned: $121.43
Price spread: +0.037% → +0.019%: $1.81
Slippage, 4 orders: −$15.41
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: $86.83
Costs to cover: 0.364%
Break-even: 2.0 days

Slippage from edgeX: live order book, 21 min ago; BloFin: live order book, 55 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 edgeX live order book, 21 min ago	5.17 bp	9.8 bp −$10	12.2 bp −$122	doesn't fit	doesn't fit
Sell BloFin live order book, 55 min ago	0.20 bp	8.0 bp −$8	10.9 bp −$109	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 MSFTUSDClong	−0.0595%	4h	504.01	long leg	$103K	$242K	10x
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.76	−0.050%	$687K	$483K	10x	as long as short
Nado MSFT-PERP	−0.0033%	1h	503.96	−0.010%	$415K	$68K	20x	as long as short
BloFin MSFT-USDTshort	−0.0017%	8h	504.20	+0.037%	$189K	$206K	20x
Aster MSFTUSDT	0.0000%	8h	503.94	−0.014%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.93	−0.016%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.09	+0.015%	$15.8M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.78	−0.046%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.23	+0.043%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.81	−0.040%	$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 MSFTUSDT	0.0000%	8h	504.02	+0.001%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.15	+0.027%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.79	−0.045%	$19K	$317K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.94	+0.184%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.81	−0.040%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.04	+0.005%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.35	+0.067%	$2.2M	$800K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.67	−0.068%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.89	−0.024%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.91	−0.020%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.72	−0.058%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.22	+0.041%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.72	−0.058%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.74	−0.054%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.91	−0.020%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.80	−0.042%	$518K	$471K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.96	−0.010%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.16	+0.029%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.36	−0.130%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.37	−0.128%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.96	−0.011%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.99	−0.005%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0192%	1h	503.67	−0.068%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.005%	$115K	$45K	30x	as long as short