Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0699%/8h= +76.6% APRpaid last 24h −0.025%

Price spread now: edgeX against KuCoin+0.002%53s7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$177as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1681.678% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now +0.002%, 7d avg +0.072%

Together, before fees−0.077%+ Points / potential airdropedgeX: Active · farm board−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.069% cheaper against KuCoin than usual: you would sell low and buy high (spread +0.002% now, against its 7-day average of +0.072%). If the spread goes back, that is −$7 on $10k: about 8 hours of funding at the current rate (+$21 a day). Mind the row above: over the last 7 days funding on this pair cost −0.092%, so the current rate has only just turned in your favour. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	501.51	0.0100	pay 0.0100% / 8h	5h 48m	$1.5M	$19K	20x
Short	edgeX MSFTUSDC	501.52	0.0799	get 0.0400% / 4h	1h 48m	$102K	$243K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against KuCoin. 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 KuCoinbpFee edgeXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $146.87
Price spread: +0.002% → +0.072%: −$6.91
Slippage, 4 orders: −$146.78
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$27.81
Costs to cover: 1.678%
Break-even: 8.3 days

Slippage from KuCoin: live order book, 2 min ago; edgeX: live order book, 14 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 KuCoin live order book, 2 min ago	10.77 bp	89.5 bp −$89	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 14 min ago	5.68 bp	10.3 bp −$10	12.6 bp −$126	doesn't fit	doesn't fit

MSFT on 33 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	−0.0129%	1h	501.42	−0.017%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.054%	$679K	$456K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0010%	1h	501.12	−0.078%	$22.1M	$9.1M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.69	+0.035%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.42	−0.018%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.55	+0.008%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.64	+0.026%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.67	+0.032%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.32	−0.038%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.59	+0.016%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.49	−0.005%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.60	+0.019%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.29	+0.156%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.25	−0.052%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.43	−0.016%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.73	+0.044%	$2.2M	$762K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.45	−0.012%	$1.1M	$5.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.62	+0.022%	$1.1M	$454K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.39	−0.024%	$668K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	501.14	−0.074%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.39	−0.024%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.51	0.000%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.17	−0.068%	$303K	$646K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.41	−0.020%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.12	−0.078%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.48	−0.006%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.28	−0.046%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	501.51	long leg	$1.5M	$19K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.054%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.42	−0.018%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.44	−0.013%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.81	+0.060%	$115K	$45K	30x	as long as short
edgeX MSFTUSDCshort	+0.0799%	4h	501.52	+0.002%	$102K	$243K	10x