Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.038%

Price spread now: KuCoin against Coinbase International−0.012%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$212as in the Price arb table

costs, in and out, $10k−$2072.072% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.012%, 7d avg +0.035%

Together, before fees+0.219%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.047% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.012% now, against its 7-day average of +0.035%). If the spread goes back, that is −$5 on $10k: about 38 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	Coinbase International MSFT-PERP-INTX	503.07	0	get 0.0000% / 1h	8m 33s	$687K	$454K	10x
Short	KuCoin MSFTUSDTM	503.01	0.0100	get 0.0100% / 8h	8m 33s	$1.6M	$73K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now −0.012%Rate

Funding earned: $21
Price spread: −0.012% → +0.035%: −$4.7
Slippage, 4 orders: −$185.2
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$190.9
Costs to cover: 2.072%
Break-even: 70.6 days

Slippage from Coinbase International: live order book, 30 min ago; KuCoin: live order book, 7 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 Coinbase International live order book, 30 min ago	3.18 bp	8.7 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	4.57 bp	112.9 bp −$113	doesn't fit	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	−0.0054%	1h	503.40	+0.065%	$414K	$67K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0004%	1h	503.12	+0.010%	$22.4M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.49	+0.083%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.47	+0.079%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.60	+0.105%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.26	+0.038%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.53	+0.091%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.31	+0.048%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.54	+0.093%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.50	+0.085%	$1.3M	$402K	—	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	503.61	+0.106%	$19K	$320K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.35	+0.254%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.34	+0.054%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTXlong	0.0000%	1h	503.07	long leg	$687K	$454K	10x
HTX MSFT-USDT	0.0000%	8h	503.47	+0.080%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.68	+0.121%	$2.2M	$818K	10x	as long as short
BloFin MSFT-USDT	+0.0026%	8h	503.57	+0.099%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.48	+0.081%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.39	+0.064%	$706K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.55	+0.095%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.33	+0.052%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.65	+0.115%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.24	+0.034%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.31	+0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.17	+0.020%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.46	+0.077%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	+0.062%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	503.12	+0.010%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	503.01	−0.012%	$1.6M	$73K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.16	+0.018%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.46	+0.078%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.49	+0.083%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.80	+0.145%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0771%	4h	503.52	+0.089%	$102K	$242K	10x	as long as short