Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0119%/8h= −13.0% APRpaid last 24h −0.037%

Price spread now: QFEX against edgeX+0.004%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.321% of the position

Long on edgeX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now +0.004%, 7d avg −0.010%

Together, before fees−0.021%+ Points / potential airdropedgeX: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	501.29	0.0163	pay 0.0081% / 4h	3h 00m	$102K	$243K	10x
Short	QFEX MSFT-USD	501.31	0.0044	get 0.0006% / 1h	0m 44s	$1.1M	$5.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$24.9
Price spread: +0.004% → −0.010%: $1.45
Slippage, 4 orders: −$13.07
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$55.52
Costs to cover: 0.321%
Break-even: never at this rate

Slippage from edgeX: live order book, 6 min ago; QFEX: live order book, 8 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, 6 min ago	5.19 bp	9.8 bp −$10	12.1 bp −$121	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	0.90 bp	5.9 bp −$6	5.9 bp −$59	11.8 bp −$1,183	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
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	500.76	−0.105%	$684K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.46	+0.034%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.21	−0.016%	$342K	$905K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.35	+0.012%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.21	−0.015%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.24	−0.009%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.23	−0.011%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.37	+0.016%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.26	−0.006%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.46	+0.035%	$19K	$293K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.10	+0.162%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.00	−0.057%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.24	−0.009%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.40	+0.022%	$2.2M	$758K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.37	+0.016%	$188K	$205K	20x	as long as short
Nado MSFT-PERP	+0.0007%	1h	501.13	−0.031%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.18	−0.021%	$617K	$2.0M	20x	as long as short
QFEX MSFT-USDshort	+0.0044%	1h	501.31	+0.004%	$1.1M	$5.8M	10x
Vest MSFT-USD-PERP	+0.0046%	1h	501.26	−0.005%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.96	−0.065%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.92	−0.073%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	−0.015%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.98	−0.061%	$514K	$504K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.01	−0.055%	$220	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.05	−0.047%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.27	−0.004%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.82	−0.093%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.24	−0.009%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.34	+0.010%	$1.1M	$486K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.17	−0.024%	$55	—	10x	as long as short
edgeX MSFTUSDClong	+0.0163%	4h	501.29	long leg	$102K	$243K	10x
Hotstuff MSFT-PERP	+0.0168%	1h	500.85	−0.087%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.16	−0.025%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.094%	$115K	$45K	30x	as long as short