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 0.000%

Price spread now: Gate against Aster+0.025%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on Aster Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.025%, 7d avg −0.050%

Together, before fees−0.075%+ Points / potential airdropAster: Stage 5 · farm board−$8 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: Gate is 0.074% dearer against Aster than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	504.06	0	get 0.0000% / 8h	2h 12m	$162K	$114K	20x
Short	Gate MSFT_USDT	504.18	0	get 0.0000% / 8h	2h 12m	$3.1M	$1.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → −0.050%: $7.44
Slippage, 4 orders: −$46.89
Fee Aster: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$62.45
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from Aster: live order book, 34 min ago; Gate: live order book, 5 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, 34 min ago	12.82 bp	19.2 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	3.67 bp	13.5 bp −$14	54.0 bp −$540	doesn't fit	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
Hotstuff MSFT-PERP	−0.0096%	1h	503.91	−0.029%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.76	−0.059%	$684K	$493K	10x	as long as short
Nado MSFT-PERP	−0.0024%	1h	503.99	−0.014%	$415K	$68K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	504.06	long leg	$162K	$114K	20x
Extended MSFT_24_5-USD	0.0000%	1h	504.25	+0.038%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.43	+0.074%	$15.9M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.16	+0.021%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.47	+0.082%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	504.18	+0.025%	$3.1M	$1.8M	100x
Bitget MSFTUSDT	0.0000%	8h	504.38	+0.064%	$3.8M	$3.0M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	504.27	+0.043%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.36	+0.060%	$18K	$323K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.12	+0.211%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.21	+0.031%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.70	+0.128%	$2.2M	$812K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.07	+0.003%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0030%	8h	504.34	+0.056%	$189K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.19	+0.027%	$691K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.26	+0.041%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.07	+0.003%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.23	+0.035%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.94	−0.023%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.95	−0.021%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.20	+0.029%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.75	−0.061%	$518K	$471K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	504.28	+0.045%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.41	+0.070%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.72	−0.067%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.96	−0.019%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.19	+0.027%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.25	+0.039%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0167%	1h	504.16	+0.021%	$27K	$43K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.42	+0.072%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0633%	4h	504.28	+0.045%	$103K	$244K	10x	as long as short