Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Gate against Extended−0.015%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Extended Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.015%, 7d avg −0.015%

Together, before fees+0.038%+ Points / potential airdropExtended: Active · farm board+$4 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	503.86	0	get 0.0000% / 1h	26m 38s	$335K	$1.9M	17x
Short	Gate MSFT_USDT	503.78	0	get 0.0000% / 8h	7h 26m	$3.1M	$1.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → −0.015%: −$0.05
Slippage, 4 orders: −$21.43
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$41.48
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Extended: live order book, 2 min ago; Gate: live order book, 1 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, 2 min ago	0.20 bp	5.3 bp −$5	26.5 bp −$265	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.77 bp	14.7 bp −$15	41.3 bp −$413	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 MSFTUSDC	−0.0313%	4h	504.33	+0.095%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.75	−0.021%	$681K	$479K	10x	as long as short
Nado MSFT-PERP	−0.0029%	1h	503.94	+0.017%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	−0.0002%	8h	504.29	+0.086%	$192K	$203K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.04	+0.036%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	503.86	long leg	$335K	$1.9M	17x
Binance MSFTUSDT	0.0000%	8h	503.96	+0.020%	$15.9M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.72	−0.027%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.10	+0.048%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	503.78	−0.015%	$3.1M	$1.9M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	504.00	+0.028%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.34	+0.096%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.31	+0.091%	$19K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.04	+0.235%	$6K	$3.5M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.17	+0.062%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.46	+0.120%	$2.2M	$837K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	503.73	−0.025%	$32K	$8K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0008%	1h	503.94	+0.017%	$27K	$45K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.98	+0.025%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.80	−0.011%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.82	−0.007%	$1.2M	$513K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.77	−0.017%	$699K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.84	−0.003%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.23	+0.074%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.65	−0.041%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.71	−0.029%	$303K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.97	+0.023%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.60	−0.051%	$514K	$391K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.73	−0.025%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.79	−0.013%	$1.6M	$115K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.83	−0.005%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.14	+0.056%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.12	+0.052%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.84	+0.394%	$116K	$45K	30x	as long as short