Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Aster−0.056%49s7-day average — · you buy dearer than you sell

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

Long on Aster Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aevo is 0.056% cheaper against Aster than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 43 hours of funding at the current rate (+$3 a day). The two prices were read 49 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	Aster MSFTUSDT	501.76	0	get 0.0000% / 8h	5h 57m	$161K	$116K	20x
Short	Aevo MSFT-PERP	501.48	0.0104	get 0.0013% / 1h	57m 35s	$55	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Aster. 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 AsterbpFee AevobpOrdersPrice spread, now −0.056%Rate

Funding earned: $21.84
Price spread: −0.056% → 0.000%: −$5.56
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$7.72
Costs to cover: 0.240%
Break-even: 9.5 days

Slippage unknown: Aster: live order book, 4 min ago; Aevo: no order-book sample. 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 Aster live order book, 4 min ago	10.36 bp	19.4 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 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
edgeX MSFTUSDC	−0.0623%	4h	501.59	−0.034%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0147%	1h	501.52	−0.049%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.104%	$679K	$457K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0009%	1h	501.32	−0.088%	$27K	$41K	10x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.76	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.55	−0.041%	$337K	$889K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.67	−0.018%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.73	−0.007%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.69	−0.014%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.48	−0.056%	$3.1M	$1.6M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.61	−0.030%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.60	−0.033%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	−0.027%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.40	+0.127%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.59	−0.034%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.77	+0.001%	$2.2M	$763K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.49	−0.054%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.43	−0.066%	$652K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.42	−0.068%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.53	−0.046%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.22	−0.108%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.26	−0.100%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.23	−0.106%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.56	−0.040%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.21	−0.110%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.58	−0.037%	$221	—	5x	as long as short
Lighter MSFT	+0.0056%	1h	501.73	−0.007%	$1.1M	$454K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.41	−0.070%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.31	−0.090%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.41	−0.070%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.47	−0.058%	$8K	—	10x	as long as short
Aevo MSFT-PERPshort	+0.0104%	1h	501.48	−0.056%	$55	—	10x
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.021%	$115K	$45K	30x	as long as short