Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Aster against Extended+0.029%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$570.567% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.089%+$9 · spread now +0.029%, 7d avg +0.036%

Together, before fees+0.100%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.08	0	get 0.0000% / 1h	9m 32s	$337K	$892K	17x
Short	Aster MSFTUSDT	501.22	0	get 0.0000% / 8h	5h 09m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → +0.036%: −$0.73
Slippage, 4 orders: −$43.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$57.39
Costs to cover: 0.567%
Break-even: never at this rate

Slippage from Extended: live order book, 54 min ago; Aster: live order book, 52 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 Extended live order book, 54 min ago	0.10 bp	5.4 bp −$5	33.5 bp −$335	doesn't fit	doesn't fit
Sell Aster live order book, 52 min ago	10.36 bp	26.6 bp −$27	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.97	−0.022%	$678K	$458K	10x	as long as short
Nado MSFT-PERP	−0.0032%	1h	500.93	−0.029%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	501.18	+0.020%	$190K	$203K	20x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	501.22	+0.029%	$161K	$116K	20x
Extended MSFT_24_5-USDlong	0.0000%	1h	501.08	long leg	$337K	$892K	17x
Binance MSFTUSDT	0.0000%	8h	501.20	+0.025%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.86	−0.043%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.33	+0.050%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.05	−0.006%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.21	+0.026%	$4.5M	$2.5M	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	501.10	+0.004%	$1.3M	$647K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.24	+0.031%	$18K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.99	+0.182%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.96	−0.024%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.08	0.000%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.64	+0.112%	$2.2M	$773K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	500.76	−0.063%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.04	−0.008%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.01	−0.014%	$683K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	500.99	−0.018%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.00	−0.016%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.72	−0.071%	$22.1M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.76	−0.063%	$301K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.10	+0.004%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.83	−0.049%	$516K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.06	−0.004%	$220	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	500.87	−0.041%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.98	−0.020%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.78	−0.059%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.06	−0.004%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.07	−0.003%	$55	—	10x	as long as short
Lighter MSFT	+0.0176%	1h	501.24	+0.032%	$1.1M	$479K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.73	+0.130%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0709%	4h	501.11	+0.006%	$102K	$242K	10x	as long as short