Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.035%

Price spread now: Coinbase International against KuCoin−0.052%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$242as in the Funding arb table

Net, price: spread back to 7d avg − costs−$221as in the Price arb table

costs, in and out, $10k−$2202.202% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.213%−$21 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.052%, 7d avg −0.040%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	501.13	0.0100	pay 0.0100% / 8h	6h 34m	$1.5M	$19K	20x
Short	Coinbase International MSFT-PERP-INTX	500.87	−0.0016	pay 0.0002% / 1h	34m 39s	$684K	$451K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$24.36
Price spread: −0.052% → −0.040%: −$1.22
Slippage, 4 orders: −$198.17
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$245.75
Costs to cover: 2.202%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Coinbase International: live order book, 34 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, 6 min ago	10.18 bp	58.4 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 34 min ago	1.80 bp	8.2 bp −$8	10.8 bp −$108	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 MSFTUSDC	−0.0029%	4h	501.29	+0.032%	$102K	$242K	10x	as long as short
BloFin MSFT-USDT	−0.0028%	8h	501.33	+0.040%	$189K	$204K	20x	as long as short
Coinbase International MSFT-PERP-INTXshort	−0.0016%	1h	500.87	−0.052%	$684K	$451K	10x
Nado MSFT-PERP	−0.0012%	1h	501.23	+0.019%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.51	+0.076%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.39	+0.052%	$342K	$894K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.52	+0.078%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.36	+0.046%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.58	+0.090%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	501.11	−0.004%	$32K	$8K	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.31	+0.036%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.49	+0.072%	$4.3M	$2.4M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.49	+0.071%	$1.3M	$680K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.39	+0.052%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.30	+0.233%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.11	−0.004%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.31	+0.036%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.69	+0.112%	$2.2M	$764K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.31	+0.036%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.38	+0.050%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.24	+0.022%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.26	+0.026%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.10	−0.006%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.12	−0.002%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.37	+0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.16	+0.006%	$520K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.36	+0.046%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.15	+0.004%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.13	long leg	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	500.96	−0.034%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.36	+0.046%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.40	+0.054%	$55	—	10x	as long as short
Lighter MSFT	+0.0136%	1h	501.59	+0.092%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.62	+0.098%	$115K	$45K	30x	as long as short