Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.012%

Price spread now: tradeXYZ against Gate−0.022%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.452% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$3 on $10k

Price spread, last 7 days−0.064%−$6 · spread now −0.022%, 7d avg −0.096%

Together, before fees−0.029%+ Points / potential airdroptradeXYZ: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.074% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.65	0	get 0.0000% / 8h	13m 07s	$3.1M	$1.7M	100x
Short	tradeXYZ xyz:MSFT	501.54	0.0050	get 0.0006% / 1h	13m 07s	$22.3M	$9.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Gate. 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 GatebpFee tradeXYZbpOrdersPrice spread, now −0.022%Rate

Funding earned: $10.5
Price spread: −0.022% → −0.096%: $7.45
Slippage, 4 orders: −$12.2
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$27.25
Costs to cover: 0.452%
Break-even: 25.2 days

Slippage from Gate: live order book, 5 min ago; tradeXYZ: live order book, 6 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 Gate live order book, 5 min ago	3.29 bp	12.1 bp −$12	32.2 bp −$322	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.30 bp	10.1 bp −$10	12.5 bp −$125	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
Nado MSFT-PERP	−0.0026%	1h	501.75	+0.020%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.022%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.06	+0.083%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.76	+0.021%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.86	+0.042%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.05	+0.080%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.65	long leg	$3.1M	$1.7M	100x
Bitget MSFTUSDT	0.0000%	8h	501.87	+0.044%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.88	+0.046%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.94	+0.058%	$19K	$295K	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	502.61	+0.191%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.65	0.000%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.77	+0.024%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.97	+0.064%	$2.2M	$748K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.86	+0.042%	$188K	$209K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.61	−0.008%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0029%	8h	501.97	+0.064%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.73	+0.016%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.82	+0.034%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.84	+0.038%	$1.1M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFTshort	+0.0050%	1h	501.54	−0.022%	$22.3M	$9.4M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	501.49	−0.032%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.76	+0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.50	−0.030%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.80	+0.029%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.61	−0.008%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.40	−0.050%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.43	−0.044%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.77	+0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.75	+0.021%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	501.93	+0.056%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.46	+0.161%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.78	+0.026%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0658%	4h	501.77	+0.025%	$102K	$244K	10x	as long as short