Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0954%/8h= −104.4% APRpaid last 24h −0.061%

Price spread now: edgeX against Gate+0.022%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$460.461% of the position

Long on Gate Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.022%, 7d avg +0.032%

Together, before fees−0.016%+ Points / potential airdropedgeX: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$29 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 0.004% in total (about 0.2% 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	Gate MSFT_USDT	503.52	0	get 0.0000% / 8h	1h 11m	$3.1M	$1.8M	100x
Short	edgeX MSFTUSDC	503.63	−0.0954	pay 0.0477% / 4h	1h 11m	$102K	$242K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Gate. 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 GatebpFee edgeXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$200.26
Price spread: +0.022% → +0.032%: −$1.02
Slippage, 4 orders: −$22.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$247.36
Costs to cover: 0.461%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; edgeX: live order book, 31 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 Gate live order book, 1 min ago	5.07 bp	13.4 bp −$13	32.9 bp −$329	doesn't fit	doesn't fit
Sell edgeX live order book, 31 min ago	5.26 bp	9.9 bp −$10	12.3 bp −$123	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	−0.0954%	4h	503.63	+0.022%	$102K	$242K	10x
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.028%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.46	−0.012%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.62	+0.020%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.77	+0.050%	$15.8M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.48	−0.008%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.72	+0.040%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	503.52	long leg	$3.1M	$1.8M	100x
Bitget MSFTUSDT	0.0000%	8h	503.67	+0.030%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	+0.017%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.74	+0.044%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.55	+0.205%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.44	−0.016%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.69	+0.034%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.68	+0.032%	$2.2M	$822K	10x	as long as short
Nado MSFT-PERP	+0.0025%	1h	503.43	−0.017%	$414K	$67K	20x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	503.80	+0.056%	$190K	$207K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.55	+0.006%	$700K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.61	+0.018%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.42	−0.020%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.70	+0.036%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.24	−0.056%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.41	−0.022%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.57	+0.010%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.18	−0.068%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	503.61	+0.018%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.42	−0.020%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.083%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.42	−0.020%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.57	+0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.67	+0.030%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0144%	1h	503.25	−0.054%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0152%	1h	503.79	+0.054%	$1.2M	$517K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.103%	$115K	$45K	30x	as long as short