Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Aster against SoDEX−0.033%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.033% cheaper against SoDEX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSFT-USD	503.53	0.0050	pay 0.0006% / 1h	24m 44s	$60K	$3K	10x
Short	Aster MSFTUSDT	503.36	0	get 0.0000% / 8h	1h 24m	$162K	$114K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against SoDEX. 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 SoDEXbpFee AsterbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$10.5
Price spread: −0.033% → 0.000%: −$3.31
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$29.81
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Aster: live order book, 17 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell Aster live order book, 17 min ago	9.72 bp	23.8 bp −$24	doesn't fit	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.026%	$682K	$500K	10x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	503.17	−0.071%	$32K	$8K	20x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	503.36	−0.033%	$162K	$114K	20x
Extended MSFT_24_5-USD	0.0000%	1h	503.52	−0.002%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.64	+0.022%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.35	−0.036%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.75	+0.044%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.49	−0.008%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.68	+0.030%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	+0.016%	$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	503.88	+0.069%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.42	+0.177%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.68	+0.030%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.76	+0.046%	$2.2M	$822K	10x	as long as short
BloFin MSFT-USDT	+0.0004%	8h	503.71	+0.036%	$191K	$206K	20x	as long as short
Nado MSFT-PERP	+0.0017%	1h	503.26	−0.053%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	−0.040%	$701K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.61	+0.016%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.53	0.000%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.64	+0.022%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.13	−0.079%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.37	−0.032%	$303K	$718K	10x	as long as short
SoDEX MSFT-USDlong	+0.0050%	1h	503.53	long leg	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	−0.056%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.46	−0.014%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	−0.030%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.11	−0.083%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.50	−0.006%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.57	+0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.54	+0.002%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0128%	1h	503.40	−0.026%	$27K	$43K	10x	as long as short
Lighter MSFT	+0.0144%	1h	503.63	+0.020%	$1.2M	$515K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.135%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0931%	4h	503.77	+0.047%	$102K	$242K	10x	as long as short