Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: KuCoin against SoDEX−0.032%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 KuCoin

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—needs both histories

Funding pays, the price is against you. KuCoin is 0.032% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX MSFT-USD	501.15	0.0050	pay 0.0006% / 1h	10m 32s	$60K	$3K	10x
Short	KuCoin MSFTUSDTM	500.99	0.0100	get 0.0100% / 8h	4h 10m	$1.5M	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.032%Rate

Funding earned: $10.5
Price spread: −0.032% → 0.000%: −$3.19
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$12.69
Costs to cover: 0.200%
Break-even: 15.5 days

Slippage unknown: SoDEX: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	10.78 bp	114.2 bp −$114	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
edgeX MSFTUSDC	−0.0330%	4h	501.40	+0.050%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.036%	$677K	$457K	10x	as long as short
BloFin MSFT-USDT	−0.0027%	8h	501.33	+0.036%	$189K	$204K	20x	as long as short
Nado MSFT-PERP	−0.0018%	1h	501.19	+0.008%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.19	+0.008%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.23	+0.016%	$337K	$890K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.39	+0.048%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.03	−0.024%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.43	+0.056%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.16	+0.002%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.28	+0.026%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.23	+0.016%	$1.3M	$613K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.48	+0.066%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.11	+0.192%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.00	−0.030%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.18	+0.006%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.60	+0.090%	$2.2M	$770K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.14	−0.002%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.25	+0.020%	$1.2M	$5.1M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.08	−0.014%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.29	+0.028%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.13	−0.004%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.83	−0.064%	$22.0M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.96	−0.038%	$302K	$722K	10x	as long as short
SoDEX MSFT-USDlong	+0.0050%	1h	501.15	long leg	$60K	$3K	10x
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.84	−0.062%	$527K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.26	+0.021%	$221	—	5x	as long as short
Lighter MSFT	+0.0096%	1h	501.38	+0.046%	$1.1M	$499K	20x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	500.99	−0.032%	$1.5M	$20K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	501.20	+0.010%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.25	+0.020%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.21	+0.012%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0168%	1h	500.86	−0.058%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.122%	$115K	$45K	30x	as long as short