Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.015%

Price spread now: Ondo Perps against KuCoin−0.030%7-day average −0.017% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.030%, 7d avg −0.017%

Together, before fees−0.125%+ Points / potential airdropOndo Perps: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$1 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	501.09	0.0100	pay 0.0100% / 8h	4h 08m	$1.5M	$20K	20x
Short	Ondo Perps MSFT-USD.P	500.94	0.0050	get 0.0006% / 1h	8m 21s	$527K	$444K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$10.42
Price spread: −0.030% → −0.017%: −$1.29
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$28.71
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 7 min ago	10.78 bp	77.0 bp −$77	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.024%	$677K	$457K	10x	as long as short
Nado MSFT-PERP	−0.0019%	1h	501.19	+0.020%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0003%	8h	501.42	+0.066%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.19	+0.020%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.26	+0.034%	$337K	$890K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.40	+0.061%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.04	−0.010%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.51	+0.084%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.20	+0.022%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.29	+0.040%	$4.5M	$2.5M	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	501.23	+0.028%	$1.3M	$613K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.34	+0.050%	$19K	$301K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.17	+0.216%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.99	−0.020%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.32	+0.046%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.60	+0.102%	$2.2M	$770K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.14	+0.010%	$676K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.26	+0.034%	$1.2M	$5.0M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.09	0.000%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.37	+0.056%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.13	+0.008%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.86	−0.046%	$22.0M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.98	−0.022%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.22	+0.026%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	500.94	−0.030%	$527K	$444K	15x
Paradex MSFT-USD-PERP	+0.0056%	8h	501.27	+0.035%	$221	—	5x	as long as short
Lighter MSFT	+0.0096%	1h	501.40	+0.062%	$1.1M	$499K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.09	long leg	$1.5M	$20K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	500.89	−0.040%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.22	+0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.22	+0.026%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0160%	1h	500.86	−0.046%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.134%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0590%	4h	501.25	+0.031%	$102K	$242K	10x	as long as short