Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h +0.002%

Price spread now: tradeXYZ against Binance−0.086%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 2 days (all we have)−0.039%−$4 · spread now −0.086%, 7d avg −0.097%

Together, before fees0.000%+ Points / potential airdroptradeXYZ: Active · farm board$0 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	501.56	0	get 0.0000% / 8h	5h 49m	$15.6M	$18.7M	20x
Short	tradeXYZ xyz:MSFT	501.13	−0.0006	pay 0.0001% / 1h	49m 27s	$22.1M	$9.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$1.32
Price spread: −0.086% → −0.097%: $1.1
Slippage, 4 orders: −$6.88
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$35.11
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from Binance: live order book, 6 min ago; tradeXYZ: live order book, 10 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, 6 min ago	0.90 bp	7.4 bp −$7	13.7 bp −$137	50.4 bp −$5,036	doesn't fit
Sell tradeXYZ live order book, 10 min ago	0.30 bp	10.4 bp −$10	13.6 bp −$136	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
Nado MSFT-PERP	−0.0129%	1h	501.42	−0.027%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.064%	$679K	$456K	10x	as long as short
tradeXYZ xyz:MSFTshort	−0.0006%	1h	501.13	−0.086%	$22.1M	$9.1M	20x
Aster MSFTUSDT	0.0000%	8h	501.68	+0.023%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.46	−0.019%	$338K	$891K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	501.56	long leg	$15.6M	$18.7M	20x
Bybit MSFTUSDT	0.0000%	8h	501.64	+0.016%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.67	+0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.28	−0.056%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.59	+0.006%	$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	501.49	−0.015%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.60	+0.009%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.36	+0.160%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.27	−0.058%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.46	−0.020%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.71	+0.030%	$2.2M	$762K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.45	−0.022%	$1.1M	$5.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.65	+0.018%	$1.1M	$454K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.39	−0.034%	$668K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	501.14	−0.084%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.39	−0.034%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.51	−0.010%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.17	−0.078%	$303K	$646K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.49	−0.014%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.12	−0.088%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.44	−0.024%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.28	−0.056%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.51	−0.010%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.064%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.42	−0.028%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	−0.022%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.062%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0799%	4h	501.52	−0.008%	$102K	$243K	10x	as long as short