Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.011%

Price spread now: Binance against Aster−0.027%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on Aster Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 2 days (all we have)+0.032%+$3 · spread now −0.027%, 7d avg −0.016%

Together, before fees+0.035%+ Points / potential airdropAster: Stage 5 · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	502.19	0	get 0.0000% / 8h	1h 18m	$161K	$116K	20x
Short	Binance MSFTUSDT	502.05	0	get 0.0000% / 8h	1h 18m	$15.7M	$19.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.027%Rate

Funding earned: $0
Price spread: −0.027% → −0.016%: −$1.17
Slippage, 4 orders: −$36.45
Fee Aster: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$55.62
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from Aster: live order book, 63 min ago; Binance: 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 Aster live order book, 63 min ago	9.36 bp	27.3 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	0.30 bp	6.1 bp −$6	9.8 bp −$98	43.9 bp −$4,387	doesn't fit

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	−0.0696%	4h	502.08	−0.020%	$102K	$243K	10x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	502.19	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.95	−0.047%	$337K	$392K	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	502.05	−0.027%	$15.7M	$19.2M	20x
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.004%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.90	−0.057%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.20	+0.002%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.09	−0.020%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.09	−0.019%	$19K	$312K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.94	+0.150%	$6K	$4.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.75	−0.087%	$27K	$100K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.121%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.10	−0.017%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.34	+0.030%	$2.2M	$757K	10x	as long as short
Nado MSFT-PERP	+0.0011%	1h	501.92	−0.054%	$414K	$64K	20x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.24	+0.010%	$7.4M	$1.7M	100x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	502.17	−0.003%	$188K	$210K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.06	−0.025%	$653K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.07	−0.023%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.92	−0.053%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.72	−0.093%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.64	−0.109%	$305K	$675K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.09	−0.019%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.77	−0.083%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	502.06	−0.026%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.89	−0.059%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.55	−0.127%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.77	−0.083%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.03	−0.031%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.09	−0.019%	$55	—	10x	as long as short
Lighter MSFT	+0.0136%	1h	502.22	+0.006%	$1.1M	$590K	20x	as long as short
Hotstuff MSFT-PERP	+0.0136%	1h	501.77	−0.083%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.05	−0.027%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	+0.022%	$115K	$45K	30x	as long as short