Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Bitget−0.029%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bitget Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.029% cheaper against Bitget than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	501.25	0	get 0.0000% / 8h	6h 43m	$4.3M	$2.4M	100x
Short	Aevo MSFT-PERP	501.11	0.0104	get 0.0013% / 1h	43m 07s	$55	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Bitget. 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 BitgetbpFee AevobpOrdersPrice spread, now −0.029%Rate

Funding earned: $21.84
Price spread: −0.029% → 0.000%: −$2.89
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$9.05
Costs to cover: 0.280%
Break-even: 9.9 days

Slippage unknown: Bitget: live order book, 5 min ago; Aevo: no order-book sample. Net counts fees only.

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 Bitget live order book, 5 min ago	0.90 bp	8.2 bp −$8	10.2 bp −$102	36.5 bp −$3,650	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0244%	4h	501.23	−0.004%	$102K	$243K	10x	as long as short
Hotstuff MSFT-PERP	−0.0040%	1h	500.82	−0.086%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	−0.0028%	8h	501.33	+0.016%	$189K	$204K	20x	as long as short
Nado MSFT-PERP	−0.0021%	1h	500.94	−0.063%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.76	−0.098%	$684K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.26	+0.003%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.13	−0.023%	$342K	$898K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.18	−0.014%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.07	−0.036%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.24	−0.002%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.12	−0.026%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	501.25	long leg	$4.3M	$2.4M	100x
Variational Omni MSFT	0.0000%	8h	501.24	−0.003%	$1.3M	$677K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.20	−0.009%	$19K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.02	+0.154%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.15	−0.020%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.42	+0.034%	$2.2M	$757K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.99	−0.052%	$617K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.18	−0.014%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.08	−0.034%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.08	−0.034%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.84	−0.082%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.82	−0.086%	$302K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.10	−0.030%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.09	−0.031%	$220	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.85	−0.080%	$513K	$503K	15x	as long as short
Phoenix MSFT	+0.0080%	1h	501.10	−0.030%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.83	−0.084%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.67	−0.116%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	500.97	−0.056%	$8K	—	10x	as long as short
Aevo MSFT-PERPshort	+0.0104%	1h	501.11	−0.029%	$55	—	10x
Lighter MSFT	+0.0120%	1h	501.23	−0.004%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.56	+0.062%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0449%	1h	501.15	−0.020%	$27K	$41K	10x	as long as short