Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against OKX−0.015%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$640.643% of the position

Long on OKX Short on Aster

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)+0.023%+$2 · spread now −0.015%, 7d avg +0.017%

Together, before fees+0.035%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.032% cheaper against OKX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	501.83	0	get 0.0000% / 8h	5h 54m	$3.0M	$2.3M	20x
Short	Aster MSFTUSDT	501.75	0	get 0.0000% / 8h	5h 54m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against OKX. 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 OKXbpFee AsterbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → +0.017%: −$3.23
Slippage, 4 orders: −$46.28
Fee OKX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$67.51
Costs to cover: 0.643%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Aster: live order book, 7 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 OKX live order book, 3 min ago	0.90 bp	8.5 bp −$9	15.4 bp −$154	doesn't fit	doesn't fit
Sell Aster live order book, 7 min ago	10.36 bp	26.6 bp −$27	doesn't fit	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	−0.0138%	1h	501.51	−0.064%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.118%	$679K	$456K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0049%	1h	501.29	−0.108%	$27K	$41K	10x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	501.75	−0.015%	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.50	−0.065%	$337K	$889K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.65	−0.037%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.68	−0.030%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	501.83	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.41	−0.084%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.60	−0.046%	$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	501.53	−0.060%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	−0.039%	$18K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.39	+0.112%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.44	−0.078%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.75	−0.016%	$2.2M	$762K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0017%	1h	501.24	−0.118%	$22.1M	$9.1M	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.46	−0.074%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.47	−0.072%	$658K	$2.0M	20x	as long as short
Lighter MSFT	+0.0040%	1h	501.73	−0.020%	$1.1M	$454K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.41	−0.084%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.59	−0.048%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.24	−0.118%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.51	−0.064%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.12	−0.141%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.58	−0.050%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.34	−0.098%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	501.25	−0.116%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.35	−0.096%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.25	−0.116%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.47	−0.072%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.48	−0.069%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.008%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0739%	4h	501.56	−0.054%	$102K	$242K	10x	as long as short