Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Aster against ApeX Omni+0.102%89s7-day average +0.090% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as 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−$660.662% of the position

Long on ApeX Omni Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.184%−$18 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now +0.102%, 7d avg +0.090%

Together, before fees−0.150%+ Points / potential airdropAster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.090%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 89 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	ApeX Omni MSFTUSDT	501.25	0.0100	pay 0.0013% / 1h	54m 01s	$160K	$7K	50x
Short	Aster MSFTUSDT	501.76	0	get 0.0000% / 8h	5h 54m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against ApeX 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 ApeX OmnibpFee AsterbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$21
Price spread: +0.102% → +0.090%: $1.15
Slippage, 4 orders: −$48.2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$86.05
Costs to cover: 0.662%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 7 min ago; Aster: live order book, 7 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 ApeX Omni live order book, 7 min ago	5.09 bp	10.1 bp −$10	65.2 bp −$652	doesn't fit	doesn't fit
Sell Aster live order book, 7 min ago	10.36 bp	26.6 bp −$27	doesn't fit	doesn't fit	doesn't fit

MSFT on 33 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
Nado MSFT-PERP	−0.0138%	1h	501.51	+0.052%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.002%	$679K	$456K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0049%	1h	501.29	+0.008%	$27K	$41K	10x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	501.76	+0.102%	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.48	+0.046%	$337K	$889K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.62	+0.075%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.68	+0.086%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.80	+0.110%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.41	+0.032%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.60	+0.070%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.53	+0.055%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	+0.076%	$18K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.39	+0.227%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.44	+0.038%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.75	+0.100%	$2.2M	$762K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0012%	1h	501.24	−0.002%	$22.1M	$9.1M	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.46	+0.042%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.47	+0.044%	$660K	$2.0M	20x	as long as short
Lighter MSFT	+0.0040%	1h	501.73	+0.096%	$1.1M	$454K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.41	+0.032%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.59	+0.068%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.24	−0.002%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.51	+0.052%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.12	−0.026%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.58	+0.065%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.34	+0.018%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.25	0.000%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.34	+0.018%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDTlong	+0.0100%	1h	501.25	long leg	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.47	+0.044%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.48	+0.047%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.124%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0739%	4h	501.56	+0.062%	$102K	$242K	10x	as long as short