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: Aster against Variational Omni−0.076%7-day average +0.010% · you buy dearer than you sell

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

Long on Variational Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now −0.076%, 7d avg +0.010%

Together, before fees+0.035%+ Points / potential airdropVariational Omni: Active · Aster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.087% cheaper against Variational Omni than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSFT	506.43	0	get 0.0000% / 8h	4h 47m	$1.3M	$418K	—
Short	Aster MSFTUSDT	506.04	0	get 0.0000% / 8h	4h 47m	$166K	$117K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Variational Omni. 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 Variational OmnibpFee AsterbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → +0.010%: −$8.65
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$16.65
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Aster: live order book, 57 min ago. 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 Variational Omni RFQ quote, 4 min ago	2.53 bp	doesn't fit	22.7 bp −$227	doesn't fit	doesn't fit
Sell Aster live order book, 57 min ago	20.25 bp	24.3 bp −$24	63.3 bp −$633	doesn't fit	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
edgeX MSFTUSDC	−0.0869%	4h	506.43	0.000%	$103K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0053%	1h	506.25	−0.034%	$413K	$72K	20x	as long as short
BloFin MSFT-USDT	−0.0029%	8h	506.47	+0.009%	$203K	$224K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0027%	1h	506.04	−0.076%	$30K	$46K	10x	as long as short
Hotstuff MSFT-PERP	−0.0024%	1h	505.78	−0.128%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	505.85	−0.114%	$711K	$698K	10x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	506.04	−0.076%	$166K	$117K	20x
Extended MSFT_24_5-USD	0.0000%	1h	506.12	−0.061%	$326K	$2.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	506.29	−0.027%	$16.4M	$22.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	506.03	−0.078%	$7.3M	$2.4M	100x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	506.03	−0.078%	$3.2M	$2.0M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	506.27	−0.031%	$4.0M	$3.2M	100x	as long as short
Variational Omni MSFTlong	0.0000%	8h	506.43	long leg	$1.3M	$418K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	506.51	+0.017%	$19K	$324K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	507.08	+0.129%	$6K	$3.4M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	506.16	−0.052%	$49K	$248K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	506.53	+0.021%	$2.3M	$952K	10x	as long as short
Lighter MSFT	+0.0032%	1h	506.26	−0.033%	$1.2M	$506K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	506.11	−0.062%	$719K	$1.9M	20x	as long as short
tradeXYZ xyz:MSFT	+0.0035%	1h	505.89	−0.106%	$22.4M	$9.4M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	506.17	−0.051%	$1.2M	$4.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	505.99	−0.086%	$94K	$83K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	506.40	−0.005%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	505.89	−0.106%	$11K	$16K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	505.90	−0.104%	$320K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	506.02	−0.080%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	506.00	−0.084%	$525K	$430K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	506.21	−0.043%	$223	—	5x	as long as short
OKX MSFT-USDT-SWAP	+0.0064%	8h	506.54	+0.023%	$3.2M	$2.9M	20x	as long as short
KuCoin MSFTUSDTM	+0.0081%	8h	505.65	−0.153%	$1.6M	$290K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	506.03	−0.078%	$161K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	506.07	−0.070%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	505.15	−0.253%	$56	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	506.25	−0.035%	$116K	$45K	30x	as long as short