Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.007%

Price spread now: Extended against BloFin−0.027%7-day average −0.036% · 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−$30as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now −0.027%, 7d avg −0.036%

Together, before fees−0.099%+ Points / potential airdropExtended: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSFT-USDT	501.40	0.0010	pay 0.0010% / 8h	4h 38m	$189K	$204K	20x
Short	Extended MSFT_24_5-USD	501.26	0	get 0.0000% / 1h	38m 34s	$341K	$893K	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$2.16
Price spread: −0.027% → −0.036%: $0.86
Slippage, 4 orders: −$14.06
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$32.36
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from BloFin: live order book, 59 min ago; Extended: live order book, 20 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 BloFin live order book, 59 min ago	0.10 bp	12.8 bp −$13	17.0 bp −$170	doesn't fit	doesn't fit
Sell Extended live order book, 20 min ago	0.60 bp	5.7 bp −$6	32.9 bp −$329	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
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.086%	$678K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0024%	1h	501.02	−0.076%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.03	−0.073%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	501.26	−0.027%	$341K	$893K	17x
Binance MSFTUSDT	0.0000%	8h	501.39	−0.002%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.07	−0.066%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.38	−0.004%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.25	−0.030%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.36	−0.008%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.35	−0.010%	$1.3M	$613K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.38	−0.004%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.15	+0.150%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.06	−0.068%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.22	−0.036%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.50	+0.020%	$2.2M	$779K	10x	as long as short
BloFin MSFT-USDTlong	+0.0010%	8h	501.40	long leg	$189K	$204K	20x
Hotstuff MSFT-PERP	+0.0024%	1h	500.85	−0.110%	$32K	$8K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.11	−0.058%	$674K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.24	−0.032%	$1.1M	$5.5M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.09	−0.062%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.05	−0.070%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	500.92	−0.096%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.85	−0.110%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.92	−0.096%	$318K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.25	−0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.97	−0.086%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.25	−0.030%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.86	−0.108%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.05	−0.070%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.24	−0.032%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.26	−0.027%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.39	−0.002%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.66	+0.052%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0513%	4h	501.36	−0.007%	$102K	$242K	10x	as long as short