Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.017%

Price spread now: KuCoin against tradeXYZ+0.038%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$193as in the Price arb table

costs, in and out, $10k−$1941.942% of the position

Long on tradeXYZ Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 7 days−0.077%−$8 · spread now +0.038%, 7d avg +0.025%

Together, before fees+0.042%+ Points / potential airdroptradeXYZ: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSFT	500.79	0.0050	pay 0.0006% / 1h	59m 59s	$22.1M	$8.8M	20x
Short	KuCoin MSFTUSDTM	500.98	0.0100	get 0.0100% / 8h	4h 59m	$1.5M	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against tradeXYZ. 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 tradeXYZbpFee KuCoinbpOrdersPrice spread, now +0.038%Rate

Funding earned: $10.5
Price spread: +0.038% → +0.025%: $1.27
Slippage, 4 orders: −$164.19
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$182.42
Costs to cover: 1.942%
Break-even: 128.6 days

Slippage from tradeXYZ: live order book, 9 min ago; KuCoin: live order book, 6 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 tradeXYZ live order book, 9 min ago	0.30 bp	9.9 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	9.79 bp	63.3 bp −$63	doesn't fit	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
Hotstuff MSFT-PERP	−0.0064%	1h	500.83	+0.008%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.97	+0.036%	$678K	$458K	10x	as long as short
Nado MSFT-PERP	−0.0032%	1h	500.96	+0.034%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0024%	8h	501.35	+0.112%	$190K	$203K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.18	+0.078%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.05	+0.051%	$337K	$888K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.19	+0.080%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.97	+0.036%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.25	+0.092%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.07	+0.056%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.21	+0.084%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.22	+0.085%	$1.3M	$617K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.10	+0.062%	$19K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.95	+0.232%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.01	+0.044%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.39	+0.120%	$2.2M	$771K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0010%	1h	500.88	+0.018%	$27K	$41K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.11	+0.064%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.91	+0.024%	$680K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	500.93	+0.028%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.09	+0.060%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTlong	+0.0050%	1h	500.79	long leg	$22.1M	$8.8M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	500.80	+0.002%	$301K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.05	+0.052%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.69	−0.020%	$516K	$442K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.09	+0.059%	$220	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	500.91	+0.024%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	500.98	+0.038%	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	500.83	+0.008%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.07	+0.056%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.02	+0.045%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.20	+0.082%	$1.1M	$479K	20x	as long as short
edgeX MSFTUSDC	+0.0179%	4h	501.04	+0.050%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.49	+0.140%	$115K	$45K	30x	as long as short