Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against SunX−0.157%50s7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$233as 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−$2352.346% of the position

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.059%−$6 · spread now −0.157%, 7d avg −0.157%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	504.32	0	get 0.0000% / 8h	5h 52m	$6K	$3.5M	20x
Short	Bitget MSFTUSDT	503.53	0	get 0.0000% / 8h	5h 52m	$3.9M	$2.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SunX. 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 SunXbpFee BitgetbpOrdersPrice spread, now −0.157%Rate

Funding earned: $0
Price spread: −0.157% → −0.157%: $0.08
Slippage, 4 orders: −$214.65
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$234.56
Costs to cover: 2.346%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Bitget: 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 SunX live order book, 9 min ago	29.24 bp	111.8 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	1.79 bp	9.7 bp −$10	13.4 bp −$134	54.3 bp −$5,425	doesn't fit

MSFT on 34 exchanges

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
Hotstuff MSFT-PERP	−0.1600%	1h	503.33	−0.196%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0025%	1h	503.27	−0.209%	$411K	$72K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.02	−0.060%	$166K	$118K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.42	−0.179%	$326K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.55	−0.153%	$16.4M	$20.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.30	−0.202%	$7.3M	$2.3M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.33	−0.196%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	503.53	−0.157%	$3.9M	$2.9M	100x
Variational Omni MSFT	0.0000%	8h	503.47	−0.169%	$1.3M	$396K	—	as long as short
SunX MSFT-USDTlong	0.0000%	8h	504.32	long leg	$6K	$3.5M	20x

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.28	−0.206%	$30K	$47K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.80	−0.301%	$702K	$522K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.47	−0.169%	$48K	$246K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.76	−0.111%	$2.3M	$907K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	503.63	−0.137%	$202K	$213K	20x	as long as short
Ondo Perps MSFT-USD.P	+0.0020%	1h	503.04	−0.254%	$532K	$382K	15x	as long as short
GRVT MSFT_USDT_Perp	+0.0026%	8h	503.55	−0.153%	$18K	$317K	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.39	−0.184%	$1.2M	$480K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.39	−0.184%	$690K	$1.8M	20x	as long as short
tradeXYZ xyz:MSFT	+0.0040%	1h	503.05	−0.252%	$22.5M	$9.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.40	−0.182%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.15	−0.232%	$318K	$677K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.41	−0.180%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	503.27	−0.207%	$221	—	5x	as long as short
QFEX MSFT-USD	+0.0058%	1h	503.43	−0.176%	$1.1M	$4.7M	10x	as long as short
OKX MSFT-USDT-SWAP	+0.0061%	8h	503.58	−0.147%	$3.2M	$2.7M	20x	as long as short
Phoenix MSFT	+0.0079%	1h	503.25	−0.212%	$11K	$5K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.08	−0.246%	$1.6M	$219K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.41	−0.180%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.42	−0.178%	$8K	—	10x	as long as short
edgeX MSFTUSDC	+0.0101%	4h	503.12	−0.238%	$102K	$242K	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.44	−0.174%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	503.21	−0.220%	$93K	$83K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.07	−0.050%	$115K	$45K	30x	as long as short