Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.024%

Price spread now: KuCoin against Deribit−0.072%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 KuCoin

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

Funding pays, the price is against you. KuCoin is 0.072% cheaper against Deribit than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSFT_USDC-PERPETUAL	503.35	0	get 0.0000% / 1h	10m 06s	$27K	$44K	10x
Short	KuCoin MSFTUSDTM	502.99	0.0100	get 0.0100% / 8h	10m 06s	$1.6M	$71K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.072%Rate

Funding earned: $21
Price spread: −0.072% → 0.000%: −$7.15
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$5.15
Costs to cover: 0.190%
Break-even: 8.7 days

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	4.57 bp	112.9 bp −$113	doesn't fit	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
Nado MSFT-PERP	−0.0053%	1h	503.40	+0.010%	$414K	$67K	20x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	503.61	+0.052%	$191K	$206K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0003%	1h	503.13	−0.044%	$22.4M	$8.9M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.56	+0.042%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.44	+0.018%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.60	+0.050%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.35	0.000%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.53	+0.036%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.31	−0.008%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.54	+0.038%	$3.8M	$2.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.50	+0.029%	$1.3M	$402K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.61	+0.052%	$19K	$320K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.39	+0.207%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUALlong	0.0000%	1h	503.35	long leg	$27K	$44K	10x
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.07	−0.056%	$687K	$454K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.43	+0.016%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.67	+0.064%	$2.2M	$818K	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.50	+0.030%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.40	+0.010%	$706K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.48	+0.026%	$1.2M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.33	−0.004%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.70	+0.070%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.25	−0.020%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.31	−0.008%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.20	−0.030%	$512K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.44	+0.018%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.35	0.000%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	503.09	−0.052%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	502.99	−0.072%	$1.6M	$71K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.20	−0.030%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.42	+0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.48	+0.025%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.80	+0.089%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0506%	4h	503.57	+0.043%	$102K	$244K	10x	as long as short