Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against KuCoin+0.046%67s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$207as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2102.097% of the position

Long on KuCoin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.046%, 7d avg +0.001%

Together, before fees−0.021%−$2 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: ApeX Omni is 0.044% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.001%. The two prices were read 67 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	503.19	0.0100	pay 0.0100% / 8h	32m 27s	$1.6M	$64K	20x
Short	ApeX Omni MSFTUSDT	503.42	0.0100	get 0.0013% / 1h	32m 27s	$160K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against KuCoin. 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 KuCoinbpFee ApeX OmnibpOrdersPrice spread, now +0.046%Rate

Funding earned: $0
Price spread: +0.046% → +0.001%: $4.44
Slippage, 4 orders: −$187.67
Fee KuCoin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$205.23
Costs to cover: 2.097%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; ApeX Omni: live order book, 3 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 KuCoin live order book, 3 min ago	7.16 bp	60.0 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 3 min ago	5.07 bp	10.1 bp −$10	58.8 bp −$588	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
BloFin MSFT-USDT	−0.0030%	8h	503.71	+0.103%	$191K	$206K	20x	as long as short
Nado MSFT-PERP	−0.0016%	1h	503.53	+0.068%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.89	+0.140%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.62	+0.086%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.74	+0.109%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.45	+0.052%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.77	+0.115%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.42	+0.046%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.70	+0.101%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.65	+0.091%	$1.3M	$407K	—	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	503.75	+0.111%	$18K	$322K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.50	+0.260%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.97	−0.044%	$682K	$447K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.58	+0.078%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.69	+0.099%	$2.2M	$818K	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.67	+0.095%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.60	+0.081%	$707K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.56	+0.074%	$1.2M	$4.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.45	+0.052%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.77	+0.115%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0047%	1h	503.28	+0.018%	$22.4M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.38	+0.038%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.53	+0.068%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.28	+0.018%	$513K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.65	+0.092%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.47	+0.056%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	503.24	+0.010%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	503.19	long leg	$1.6M	$64K	20x
ApeX Omni MSFTUSDTshort	+0.0100%	1h	503.42	+0.046%	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.62	+0.085%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.67	+0.095%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.90	+0.141%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0247%	1h	503.58	+0.078%	$27K	$44K	10x	as long as short
edgeX MSFTUSDC	+0.0983%	4h	503.71	+0.103%	$102K	$243K	10x	as long as short