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 −0.011%

Price spread now: Bitget against Binance−0.042%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Binance Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days+0.032%+$3 · spread now −0.042%, 7d avg −0.008%

Together, before fees+0.018%+$2 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: Bitget is 0.034% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	503.92	0	get 0.0000% / 8h	2h 33m	$15.8M	$19.3M	20x
Short	Bitget MSFTUSDT	503.71	0	get 0.0000% / 8h	2h 33m	$3.8M	$2.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Binance. 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 BinancebpFee BitgetbpOrdersPrice spread, now −0.042%Rate

Funding earned: $0
Price spread: −0.042% → −0.008%: −$3.41
Slippage, 4 orders: −$11.17
Fee Binance: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$36.57
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bitget: 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 Binance live order book, 7 min ago	0.10 bp	6.5 bp −$7	13.4 bp −$134	42.7 bp −$4,266	doesn't fit
Sell Bitget live order book, 4 min ago	1.99 bp	10.6 bp −$11	14.7 bp −$147	65.1 bp −$6,508	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.26	−0.131%	$682K	$465K	10x	as long as short
BloFin MSFT-USDT	−0.0009%	8h	503.70	−0.044%	$190K	$206K	20x	as long as short
Nado MSFT-PERP	−0.0004%	1h	503.63	−0.057%	$413K	$66K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.69	−0.047%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.75	−0.034%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	503.92	long leg	$15.8M	$19.3M	20x
Bybit MSFTUSDT	0.0000%	8h	503.67	−0.050%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.63	−0.058%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.59	−0.065%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	503.71	−0.042%	$3.8M	$2.9M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.69	−0.046%	$1.3M	$479K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.67	−0.049%	$19K	$312K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.24	+0.064%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.33	−0.117%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.46	−0.091%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.84	−0.016%	$2.2M	$797K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.57	−0.069%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.71	−0.042%	$687K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.76	−0.032%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.37	−0.109%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.79	−0.026%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.43	−0.097%	$22.3M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.43	−0.097%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.31	−0.121%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.02	−0.179%	$517K	$470K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.71	−0.042%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.25	−0.133%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.30	−0.123%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.46	−0.091%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.48	−0.088%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	503.98	+0.012%	$1.2M	$506K	20x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	503.28	−0.127%	$32K	$8K	20x	as long as short
edgeX MSFTUSDC	+0.0128%	4h	503.67	−0.051%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.85	−0.212%	$115K	$45K	30x	as long as short