Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.016%

Price spread now: KuCoin against Vest−0.042%50s7-day average — · you buy dearer than you sell

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

Long on Vest Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. KuCoin is 0.042% cheaper against Vest than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2.6 days of funding at the current rate (+$2 a day). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest MSFT-USD-PERP	501.48	0.0046	pay 0.0006% / 1h	24m 39s	—	$1K	25x
Short	KuCoin MSFTUSDTM	501.27	0.0100	get 0.0100% / 8h	5h 24m	$1.5M	$19K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Vest. 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 VestbpFee KuCoinbpOrdersPrice spread, now −0.042%Rate

Funding earned: $11.41
Price spread: −0.042% → 0.000%: −$4.19
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$6.78
Costs to cover: 0.140%
Break-even: 11.2 days

Slippage unknown: Vest: no order-book sample; KuCoin: live order book, 11 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 Vest no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 11 min ago	10.87 bp	81.4 bp −$81	doesn't fit	doesn't fit	doesn't fit

Vest: 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
edgeX MSFTUSDC	−0.0517%	4h	501.54	+0.013%	$102K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.91	−0.114%	$678K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0035%	1h	501.17	−0.062%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	501.57	+0.018%	$189K	$203K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.55	+0.015%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.21	−0.055%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.33	−0.030%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.20	−0.056%	$7.3M	$1.8M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.55	+0.014%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.20	−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	501.47	−0.002%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.44	−0.008%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.68	+0.040%	$19K	$297K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.31	+0.166%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.01	−0.094%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.19	−0.058%	$58K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.41	−0.014%	$2.2M	$767K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.20	−0.056%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.13	−0.070%	$685K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.29	−0.038%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERPlong	+0.0046%	1h	501.48	long leg	—	$1K	25x
tradeXYZ xyz:MSFT	+0.0050%	1h	500.92	−0.112%	$22.1M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.12	−0.072%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.27	−0.042%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	−0.094%	$524K	$495K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0060%	8h	501.21	−0.054%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.44	−0.008%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	501.27	−0.042%	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.13	−0.070%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.37	−0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.31	−0.035%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0128%	1h	500.95	−0.106%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0176%	1h	501.46	−0.004%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.86	+0.076%	$115K	$45K	30x	as long as short