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: Gate against OKX−0.085%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 7 days+0.073%+$7 · spread now −0.085%, 7d avg −0.030%

Together, before fees+0.086%+$9 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: Gate is 0.055% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	504.31	0	get 0.0000% / 8h	1h 47m	$3.0M	$2.4M	20x
Short	Gate MSFT_USDT	503.88	0	get 0.0000% / 8h	1h 47m	$3.1M	$1.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → −0.030%: −$5.53
Slippage, 4 orders: −$16.63
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$47.16
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago	0.10 bp	8.6 bp −$9	16.6 bp −$166	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	4.56 bp	12.9 bp −$13	66.7 bp −$667	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	−0.0462%	4h	503.96	−0.070%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.129%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.75	−0.112%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.94	−0.073%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.08	−0.046%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.75	−0.111%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	504.31	long leg	$3.0M	$2.4M	20x
Gate MSFT_USDTshort	0.0000%	8h	503.88	−0.085%	$3.1M	$1.8M	100x
Bitget MSFTUSDT	0.0000%	8h	504.08	−0.046%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.13	−0.035%	$1.3M	$499K	—	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	504.20	−0.021%	$19K	$327K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.90	+0.117%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.80	−0.101%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.99	−0.063%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.11	−0.040%	$2.2M	$819K	10x	as long as short
Nado MSFT-PERP	+0.0004%	1h	503.70	−0.120%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	+0.0005%	8h	504.01	−0.059%	$190K	$207K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.82	−0.097%	$689K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.96	−0.069%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.81	−0.099%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.95	−0.071%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	503.62	−0.137%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.57	−0.147%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.72	−0.117%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.92	−0.077%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.67	−0.127%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	503.91	−0.080%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.94	−0.073%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.40	−0.180%	$1.6M	$58K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.66	−0.129%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.93	−0.075%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.01	−0.060%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	504.03	−0.056%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.13	−0.036%	$115K	$45K	30x	as long as short