Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.022%

Price spread now: Extended against KuCoin+0.011%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$152as in the Funding arb table

Net, price: spread back to 7d avg − costs−$140as in the Price arb table

costs, in and out, $10k−$1351.354% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now +0.011%, 7d avg +0.056%

Together, before fees−0.146%+ Points / potential airdropExtended: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Extended is 0.044% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.056%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	501.43	0.0100	pay 0.0100% / 8h	7h 22m	$1.5M	$19K	20x
Short	Extended MSFT_24_5-USD	501.49	0	get 0.0000% / 1h	22m 00s	$337K	$1.0M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$21
Price spread: +0.011% → +0.056%: −$4.42
Slippage, 4 orders: −$118.37
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$160.79
Costs to cover: 1.354%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Extended: live order book, 1 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, 4 min ago	9.67 bp	58.0 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	0.30 bp	5.4 bp −$5	38.8 bp −$388	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	−0.0336%	4h	501.89	+0.093%	$102K	$242K	10x	as long as short
BloFin MSFT-USDT	−0.0019%	8h	501.72	+0.058%	$188K	$205K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.038%	$685K	$453K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.56	+0.027%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	501.49	+0.011%	$337K	$1.0M	17x
Binance MSFTUSDT	0.0000%	8h	501.52	+0.018%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.39	−0.008%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.61	+0.036%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.44	+0.002%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.60	+0.034%	$3.8M	$2.1M	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	501.86	+0.086%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.95	+0.104%	$19K	$289K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.38	+0.189%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.29	−0.028%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.54	+0.022%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.60	+0.034%	$2.2M	$759K	10x	as long as short
Nado MSFT-PERP	+0.0007%	1h	501.27	−0.032%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.41	−0.004%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.59	+0.032%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.53	+0.020%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.15	−0.056%	$22.2M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.22	−0.042%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.51	+0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.07	−0.072%	$528K	$502K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.53	+0.020%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.70	+0.054%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	501.29	−0.028%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0096%	1h	501.64	+0.042%	$1.1M	$486K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.43	long leg	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.56	+0.026%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.46	+0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.51	+0.015%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.64	+0.042%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.82	+0.078%	$115K	$45K	30x	as long as short