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 +0.027%

Price spread now: KuCoin against Extended−0.080%7-day average −0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$800.795% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.080%, 7d avg −0.055%

Together, before fees+0.213%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.026% cheaper against Extended than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of −0.055%). If the spread goes back, that is −$3 on $10k: about 20 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	503.60	0	get 0.0000% / 1h	2m 12s	$339K	$1.9M	17x
Short	KuCoin MSFTUSDTM	503.20	0.0100	get 0.0100% / 8h	2m 12s	$1.6M	$81K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.080%Rate

Funding earned: $21
Price spread: −0.080% → −0.055%: −$2.56
Slippage, 4 orders: −$62.55
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$61.11
Costs to cover: 0.795%
Break-even: 27.4 days

Slippage from Extended: live order book, 1 min ago; KuCoin: live order book, 4 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, 1 min ago	0.10 bp	5.8 bp −$6	39.6 bp −$396	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	7.65 bp	27.7 bp −$28	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 MSFTUSDC	−0.0585%	4h	503.54	−0.013%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0059%	1h	503.44	−0.032%	$414K	$67K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0011%	1h	503.25	−0.070%	$22.4M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.58	−0.005%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	503.60	long leg	$339K	$1.9M	17x
Binance MSFTUSDT	0.0000%	8h	503.72	+0.023%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.44	−0.033%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.82	+0.043%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.43	−0.035%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.59	−0.003%	$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	503.54	−0.013%	$1.3M	$401K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.57	−0.007%	$18K	$321K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.50	+0.178%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.44	−0.033%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.16	−0.088%	$681K	$460K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.43	−0.035%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.90	+0.059%	$2.2M	$817K	10x	as long as short
BloFin MSFT-USDT	+0.0008%	8h	503.57	−0.007%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.64	+0.007%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.59	−0.003%	$706K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.61	+0.001%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.29	−0.062%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.75	+0.029%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.40	−0.041%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.47	−0.027%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.14	−0.092%	$512K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.46	−0.028%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.064%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	503.05	−0.110%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	503.20	−0.080%	$1.6M	$81K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	503.21	−0.078%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.59	−0.003%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.61	+0.002%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.80	+0.039%	$115K	$45K	30x	as long as short