Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0100%/8hpaid last 24h −0.022%

Price spread now: Extended against KuCoin+0.082%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$168as in the Price arb table

costs, in and out, $10k−$1711.710% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now +0.082%, 7d avg +0.055%

Together, before fees−0.194%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.027% dearer against KuCoin than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of +0.055%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin MSFTUSDTM	500.18	0.0100	pay 0.0100% / 8h	4h 23m	$1.5M	$11K	20x
Short	Extended MSFT_24_5-USD	500.59	0	get 0.0000% / 1h	23m 14s	$374K	$398K	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$21
Price spread: +0.082% → +0.055%: $2.69
Slippage, 4 orders: −$153.98
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$189.28
Costs to cover: 1.710%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Extended: live order book, 8 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, 6 min ago	12.49 bp	72.6 bp −$73	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 8 min ago	0.60 bp	5.7 bp −$6	35.4 bp −$354	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	−0.0036%	1h	500.55	+0.073%	$447K	$41K	20x	as long as short
BloFin MSFT-USDT	−0.0023%	8h	500.74	+0.112%	$192K	$202K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.15	−0.006%	$687K	$377K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	500.56	+0.076%	$156K	$87K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	500.59	+0.082%	$374K	$398K	17x
Binance MSFTUSDT	0.0000%	8h	500.63	+0.090%	$15.6M	$17.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.64	+0.092%	$7.3M	$1.5M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	500.69	+0.102%	$3.1M	$2.2M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	500.37	+0.038%	$3.0M	$1.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	500.70	+0.103%	$1.3M	$732K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	500.67	+0.098%	$19K	$338K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.45	+0.254%	$6K	$4.4M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	500.69	+0.102%	$59K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	500.93	+0.150%	$2.2M	$718K	10x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	500.55	+0.074%	$40K	—	20x	as long as short
Bitget MSFTUSDT	+0.0016%	8h	500.49	+0.062%	$3.8M	$1.8M	100x	as long as short
Lighter MSFT	+0.0032%	1h	500.85	+0.134%	$1.1M	$624K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.72	+0.108%	$673K	$2.2M	20x	as long as short
QFEX MSFT-USD	+0.0045%	1h	500.69	+0.102%	$1.2M	$5.3M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	500.71	+0.106%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.43	+0.050%	$22.5M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.21	+0.006%	$299K	$450K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	500.76	+0.116%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	500.70	+0.105%	$220	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.44	+0.052%	$510K	$458K	15x	as long as short
Phoenix MSFT	+0.0080%	1h	500.73	+0.110%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTMlong	+0.0100%	8h	500.18	long leg	$1.5M	$11K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	500.58	+0.080%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	500.60	+0.084%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	500.62	+0.088%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0170%	1h	500.70	+0.104%	$27K	$115K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	500.66	+0.096%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0553%	1h	500.61	+0.086%	$111K	$76K	10x	as long as short
edgeX MSFTUSDC	+0.0773%	4h	500.68	+0.101%	$102K	$243K	10x	as long as short