Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against ApeX Omni−0.064%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.064%, 7d avg −0.002%

Together, before fees+0.049%+$5 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: KuCoin is 0.061% cheaper against ApeX Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSFTUSDT	503.11	0.0100	pay 0.0013% / 1h	44m 48s	$160K	$7K	50x
Short	KuCoin MSFTUSDTM	502.79	0.0100	get 0.0100% / 8h	5h 44m	$1.6M	$227K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → −0.002%: −$6.14
Slippage, 4 orders: −$47.33
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$75.47
Costs to cover: 0.693%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 64 min ago; KuCoin: 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 ApeX Omni live order book, 64 min ago	5.06 bp	10.1 bp −$10	72.8 bp −$728	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	8.26 bp	25.1 bp −$25	doesn't fit	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
Hotstuff MSFT-PERP	−0.1600%	1h	502.70	−0.081%	$32K	$8K	20x	as long as short
edgeX MSFTUSDC	−0.0224%	4h	503.01	−0.020%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0074%	1h	503.10	−0.003%	$411K	$72K	20x	as long as short
Ondo Perps MSFT-USD.P	−0.0014%	1h	502.68	−0.085%	$531K	$382K	15x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.08	+0.194%	$166K	$118K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.41	+0.059%	$326K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.57	+0.091%	$16.4M	$21.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.30	+0.038%	$7.3M	$2.3M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.22	+0.022%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.54	+0.085%	$3.9M	$2.9M	100x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.01	−0.021%	$1.3M	$396K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.15	+0.008%	$18K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.34	+0.244%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.09	−0.004%	$30K	$47K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.12	+0.002%	$701K	$527K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.37	+0.052%	$48K	$246K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.04	+0.185%	$2.3M	$911K	10x	as long as short
BloFin MSFT-USDT	+0.0006%	8h	503.60	+0.097%	$202K	$216K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0011%	1h	503.05	−0.012%	$22.4M	$9.2M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.27	+0.032%	$1.2M	$484K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	+0.044%	$690K	$1.8M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.41	+0.060%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.13	+0.004%	$318K	$675K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.25	+0.028%	$60K	$3K	10x	as long as short
OKX MSFT-USDT-SWAP	+0.0052%	8h	503.56	+0.089%	$3.2M	$2.7M	20x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.13	+0.005%	$221	—	5x	as long as short
QFEX MSFT-USD	+0.0058%	1h	503.12	+0.002%	$1.2M	$4.7M	10x	as long as short
Phoenix MSFT	+0.0079%	1h	503.21	+0.020%	$11K	$5K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	502.79	−0.064%	$1.6M	$227K	20x
ApeX Omni MSFTUSDTlong	+0.0100%	1h	503.11	long leg	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.43	+0.064%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.40	+0.057%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	503.12	+0.002%	$93K	$83K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.61	+0.099%	$115K	$45K	30x	as long as short