Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0509%/8h= +55.8% APRpaid last 24h −0.005%

Price spread now: Aster against edgeX−0.035%80s7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$680.676% of the position

Long on edgeX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.034%+$3 · spread now −0.035%, 7d avg +0.019%

Together, before fees−0.033%+ Points / potential airdropedgeX: Active · Aster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.054% cheaper against edgeX than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.019%). If the spread goes back, that is −$5 on $10k: about 8 hours of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.068%, so the current rate has only just turned in your favour. The two prices were read 80 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.068% in total (about -3.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	501.49	−0.0509	get 0.0255% / 4h	20m 13s	$102K	$243K	10x
Short	Aster MSFTUSDT	501.31	0	get 0.0000% / 8h	4h 20m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against edgeX. 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 edgeXbpFee AsterbpOrdersPrice spread, now −0.035%Rate

Funding earned: $106.95
Price spread: −0.035% → +0.019%: −$5.38
Slippage, 4 orders: −$50.62
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: $33.95
Costs to cover: 0.676%
Break-even: 4.8 days

Slippage from edgeX: live order book, 37 min ago; Aster: live order book, 36 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 edgeX live order book, 37 min ago	5.59 bp	10.3 bp −$10	12.6 bp −$126	doesn't fit	doesn't fit
Sell Aster live order book, 36 min ago	9.37 bp	22.8 bp −$23	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
edgeX MSFTUSDClong	−0.0509%	4h	501.49	long leg	$102K	$243K	10x
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.103%	$678K	$455K	10x	as long as short
BloFin MSFT-USDT	−0.0007%	8h	501.57	+0.017%	$189K	$204K	20x	as long as short
Nado MSFT-PERP	−0.0006%	1h	501.29	−0.039%	$414K	$64K	20x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	501.31	−0.035%	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.44	−0.009%	$337K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.58	+0.018%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.27	−0.043%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.57	+0.017%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.32	−0.033%	$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	501.39	−0.019%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.48	−0.001%	$1.3M	$615K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.54	+0.011%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.34	+0.170%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.37	−0.023%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.54	+0.011%	$2.2M	$772K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.31	−0.035%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.42	−0.013%	$1.2M	$5.3M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.24	−0.049%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.43	−0.011%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.08	−0.081%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.05	−0.087%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.19	−0.059%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.32	−0.033%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.07	−0.083%	$528K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.44	−0.010%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	501.05	−0.087%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.16	−0.065%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.92	−0.113%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.45	−0.007%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	−0.008%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0109%	1h	501.39	−0.019%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0128%	1h	501.54	+0.011%	$1.1M	$499K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.63	+0.029%	$115K	$45K	30x	as long as short