Funding arb · Price arb /

MSFT

RWAall MSFT markets

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: Phemex against Gate+0.102%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$920.923% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 3 days (all we have)−0.035%−$4 · spread now +0.102%, 7d avg +0.080%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.021% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.080%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.96	0	get 0.0000% / 8h	7h 49m	$3.1M	$1.6M	100x
Short	Phemex MSFTUSDT	502.47	0	get 0.0000% / 8h	7h 49m	$2.2M	$753K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.102%Rate

Funding earned: $0
Price spread: +0.102% → +0.080%: $2.15
Slippage, 4 orders: −$65.29
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$90.14
Costs to cover: 0.923%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	5.28 bp	13.1 bp −$13	29.8 bp −$298	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	0.20 bp	33.6 bp −$34	doesn't fit	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
Nado MSFT-PERP	−0.0012%	1h	502.01	+0.011%	$415K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	502.22	+0.052%	$188K	$207K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.57	−0.078%	$680K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.14	+0.035%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.14	+0.036%	$337K	$507K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.13	+0.034%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.22	+0.052%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.35	+0.078%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.96	long leg	$3.1M	$1.6M	100x
Bitget MSFTUSDT	0.0000%	8h	502.05	+0.018%	$3.8M	$2.2M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	502.14	+0.035%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.04	+0.015%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.01	+0.209%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.97	+0.002%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.09	+0.026%	$58K	$227K	20x	as long as short
Phemex MSFTUSDTshort	0.0000%	8h	502.47	+0.102%	$2.2M	$753K	10x
Lighter RH MSFT	+0.0032%	1h	502.07	+0.022%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	502.12	+0.032%	$1.1M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.11	+0.030%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.89	−0.014%	$22.3M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.88	−0.016%	$303K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.16	+0.040%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.60	−0.072%	$529K	$490K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.18	+0.044%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.96	0.000%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0080%	1h	502.31	+0.070%	$1.1M	$486K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.98	+0.004%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.82	−0.028%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.87	−0.018%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.04	+0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.02	+0.013%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.98	+0.004%	$97K	$110K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.20	+0.048%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0477%	4h	501.98	+0.005%	$102K	$243K	10x	as long as short