Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.080%

Price spread now: Arcus against Bitget−0.052%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on Bitget Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.138%+$14 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now −0.052%, 7d avg −0.039%

Together, before fees+0.116%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	502.14	0	get 0.0000% / 8h	3h 27m	$4.4M	$2.5M	100x
Short	Arcus MSFT-USD	501.88	0.0040	get 0.0005% / 1h	27m 11s	$96K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.052%Rate

Funding earned: $8.46
Price spread: −0.052% → −0.039%: −$1.32
Slippage, 4 orders: −$21.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$30.64
Costs to cover: 0.378%
Break-even: 32.4 days

Slippage from Bitget: live order book, 1 min ago; Arcus: live order book, 26 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 Bitget live order book, 1 min ago	1.59 bp	8.6 bp −$9	12.5 bp −$125	34.2 bp −$3,421	doesn't fit
Sell Arcus live order book, 26 min ago	4.09 bp	10.9 bp −$11	12.5 bp −$125	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
Nado MSFT-PERP	−0.0101%	1h	502.44	+0.059%	$415K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.233%	$677K	$447K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0007%	1h	502.00	−0.028%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.32	+0.036%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.29	+0.029%	$337K	$881K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.43	+0.057%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.35	+0.042%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.61	+0.094%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.19	+0.010%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	502.14	long leg	$4.4M	$2.5M	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	502.04	−0.020%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.17	+0.007%	$19K	$297K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.19	+0.209%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.13	−0.002%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.30	+0.032%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.69	+0.110%	$2.2M	$777K	10x	as long as short
BloFin MSFT-USDT	+0.0016%	8h	502.43	+0.058%	$189K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	502.48	+0.068%	$1.1M	$503K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.25	+0.022%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	502.30	+0.032%	$1.1M	$4.9M	10x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	502.11	−0.006%	$32K	$8K	20x	as long as short
Arcus MSFT-USDshort	+0.0040%	1h	501.88	−0.052%	$96K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	502.44	+0.060%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.61	−0.106%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.06	−0.016%	$303K	$701K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.29	+0.030%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	502.45	+0.062%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.05	−0.018%	$519K	$453K	15x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.89	−0.050%	$1.6M	$52K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.65	−0.098%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.33	+0.038%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.33	+0.037%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.14	0.000%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0905%	4h	501.92	−0.045%	$102K	$244K	10x	as long as short