Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Gate against Deribit−0.016%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Gate

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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSFT_USDC-PERPETUAL	504.03	0	get 0.0000% / 1h	28m 03s	$27K	$43K	10x
Short	Gate MSFT_USDT	503.95	0	get 0.0000% / 8h	2h 28m	$3.1M	$1.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → 0.000%: −$1.59
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$23.59
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Gate: live order book, 5 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	3.28 bp	12.5 bp −$12	51.1 bp −$511	doesn't fit	doesn't fit

Deribit: 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	−0.0759%	4h	503.75	−0.055%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.72	−0.062%	$693K	$477K	10x	as long as short
Nado MSFT-PERP	−0.0023%	1h	503.84	−0.037%	$415K	$68K	20x	as long as short
BloFin MSFT-USDT	−0.0007%	8h	503.77	−0.052%	$189K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.10	+0.014%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.14	+0.022%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.26	+0.046%	$15.8M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.21	+0.036%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.24	+0.042%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	503.95	−0.016%	$3.1M	$1.8M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	504.21	+0.036%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.95	−0.016%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.94	−0.018%	$19K	$317K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.07	+0.206%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUALlong	0.0000%	1h	504.03	long leg	$27K	$43K	10x
HTX MSFT-USDT	0.0000%	8h	504.27	+0.048%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.39	+0.071%	$2.2M	$797K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.58	−0.089%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.08	+0.010%	$689K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.83	−0.040%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.60	−0.085%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.17	+0.028%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.84	−0.038%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.97	−0.012%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.08	+0.010%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.47	−0.111%	$517K	$471K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.84	−0.037%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.51	−0.103%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.54	−0.097%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.14	+0.022%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.13	+0.019%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	504.35	+0.063%	$1.2M	$516K	20x	as long as short
Hotstuff MSFT-PERP	+0.0176%	1h	503.39	−0.127%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.002%	$115K	$45K	30x	as long as short