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 +0.008%

Price spread now: Binance against Bybit+0.054%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.020%+$2 on $10k

Price spread, last 7 days+0.011%+$1 · spread now +0.054%, 7d avg +0.045%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSFTUSDT	502.79	0	get 0.0000% / 8h	3h 20m	$7.2M	$2.2M	100x
Short	Binance MSFTUSDT	503.06	0	get 0.0000% / 8h	3h 20m	$15.8M	$19.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.054%Rate

Funding earned: $0
Price spread: +0.054% → +0.045%: $0.87
Slippage, 4 orders: −$12.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$32.99
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Binance: live order book, 5 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 Bybit live order book, 2 min ago	1.29 bp	10.9 bp −$11	21.8 bp −$218	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.10 bp	7.2 bp −$7	12.0 bp −$120	50.2 bp −$5,023	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	−0.0104%	1h	502.89	+0.020%	$415K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	502.46	−0.066%	$680K	$448K	10x	as long as short
BloFin MSFT-USDT	−0.0023%	8h	503.09	+0.060%	$189K	$205K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0010%	1h	502.65	−0.028%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.94	+0.029%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.93	+0.028%	$339K	$884K	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	503.06	+0.054%	$15.8M	$19.2M	20x
Bybit MSFTUSDTlong	0.0000%	8h	502.79	long leg	$7.2M	$2.2M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	503.13	+0.068%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.91	+0.024%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.05	+0.052%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.01	+0.043%	$1.3M	$606K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.63	−0.031%	$19K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.86	+0.213%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.78	−0.002%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.86	+0.014%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.04	+0.050%	$2.2M	$785K	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.09	+0.060%	$1.1M	$504K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.82	+0.006%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	502.93	+0.028%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.61	−0.036%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.13	+0.068%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.52	−0.054%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.73	−0.012%	$304K	$705K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.94	+0.030%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	502.98	+0.037%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.68	−0.022%	$512K	$462K	15x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	502.69	−0.020%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.57	−0.044%	$1.6M	$55K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.75	−0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.99	+0.040%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.99	+0.040%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.14	−0.129%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0633%	4h	502.98	+0.039%	$102K	$243K	10x	as long as short