Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h +0.014%

Price spread now: tradeXYZ against Gate−0.036%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 7 days−0.078%−$8 · spread now −0.036%, 7d avg −0.095%

Together, before fees−0.035%+ Points / potential airdroptradeXYZ: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and tradeXYZ is 0.059% dearer against Gate than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	503.31	0	get 0.0000% / 8h	3h 04m	$3.1M	$1.8M	100x
Short	tradeXYZ xyz:MSFT	503.13	0.0014	get 0.0002% / 1h	4m 18s	$22.2M	$8.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.036%Rate

Funding earned: $2.88
Price spread: −0.036% → −0.095%: $5.95
Slippage, 4 orders: −$11.11
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$35.29
Costs to cover: 0.441%
Break-even: 92.9 days

Slippage from Gate: live order book, 4 min ago; tradeXYZ: 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	3.28 bp	11.0 bp −$11	30.4 bp −$304	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.50 bp	10.1 bp −$10	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	−0.0100%	1h	503.33	+0.004%	$414K	$65K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	503.25	−0.012%	$686K	$459K	10x	as long as short
BloFin MSFT-USDT	−0.0004%	8h	503.49	+0.036%	$189K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.36	+0.011%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.49	+0.036%	$340K	$954K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.61	+0.061%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.36	+0.010%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.81	+0.099%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	503.31	long leg	$3.1M	$1.8M	100x
Bitget MSFTUSDT	0.0000%	8h	503.56	+0.050%	$4.4M	$2.6M	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	503.40	+0.017%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.75	+0.087%	$18K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.41	+0.219%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.35	+0.008%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.51	+0.040%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.77	+0.091%	$2.2M	$785K	10x	as long as short
tradeXYZ xyz:MSFTshort	+0.0014%	1h	503.13	−0.036%	$22.2M	$8.8M	20x
Lighter MSFT	+0.0032%	1h	503.57	+0.052%	$1.1M	$514K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.32	+0.002%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.50	+0.038%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.27	−0.008%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.54	+0.046%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.14	−0.034%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.21	−0.020%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.49	+0.036%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.08	−0.046%	$512K	$458K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.42	+0.021%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	503.15	−0.032%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.98	−0.066%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.52	+0.042%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.46	+0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.46	+0.030%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0208%	4h	503.56	+0.050%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.84	+0.105%	$115K	$45K	30x	as long as short