Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against Aster−0.026%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$610.606% of the position

Long on Aster Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.026%, 7d avg −0.029%

Together, before fees−0.040%+ Points / potential airdropAster: Stage 5 · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	501.81	0	get 0.0000% / 8h	6h 20m	$161K	$116K	20x
Short	Bybit MSFTUSDT	501.68	0	get 0.0000% / 8h	6h 20m	$7.4M	$1.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.026%Rate

Funding earned: $0
Price spread: −0.026% → −0.029%: $0.25
Slippage, 4 orders: −$41.64
Fee Aster: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$60.39
Costs to cover: 0.606%
Break-even: never at this rate

Slippage from Aster: live order book, 46 min ago; Bybit: live order book, 3 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, 46 min ago	9.77 bp	22.4 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.40 bp	9.7 bp −$10	18.7 bp −$187	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
edgeX MSFTUSDC	−0.0679%	4h	501.55	−0.052%	$102K	$242K	10x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	501.34	−0.094%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.22	−0.118%	$679K	$457K	10x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.81	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.63	−0.035%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.77	−0.009%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDTshort	0.0000%	8h	501.68	−0.026%	$7.4M	$1.6M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.91	+0.020%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.59	−0.044%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.66	−0.030%	$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	501.69	−0.024%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.56	−0.050%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.54	+0.145%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.64	−0.034%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.99	+0.036%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERP	+0.0005%	1h	501.60	−0.043%	$414K	$64K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0009%	1h	501.64	−0.034%	$27K	$41K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.59	−0.044%	$622K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.61	−0.040%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.47	−0.068%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.63	−0.036%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.41	−0.080%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.41	−0.080%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.63	−0.036%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.29	−0.104%	$522K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.67	−0.028%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.33	−0.096%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.44	−0.074%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.114%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.69	−0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.66	−0.030%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.85	+0.008%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	−0.006%	$115K	$45K	30x	as long as short