Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against SunX−0.159%7-day average −0.157% · you buy dearer than you sell

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$235as in the Price arb table

costs, in and out, $10k−$2352.347% of the position

Long on SunX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.159%, 7d avg −0.157%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	504.72	0	get 0.0000% / 8h	5h 28m	$6K	$3.5M	20x
Short	Bitget MSFTUSDT	503.92	0	get 0.0000% / 8h	5h 28m	$4.0M	$3.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against SunX. 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 SunXbpFee BitgetbpOrdersPrice spread, now −0.159%Rate

Funding earned: $0
Price spread: −0.159% → −0.157%: −$0.11
Slippage, 4 orders: −$214.72
Fee SunX: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$234.83
Costs to cover: 2.347%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Bitget: live order book, 3 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 SunX live order book, 3 min ago	29.22 bp	110.6 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.08 bp	9.3 bp −$9	10.8 bp −$108	47.3 bp −$4,733	doesn't fit

MSFT on 34 exchanges

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
Hotstuff MSFT-PERP	−0.1600%	1h	503.64	−0.214%	$32K	$8K	20x	as long as short
edgeX MSFTUSDC	−0.0284%	4h	503.93	−0.157%	$103K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0059%	1h	503.83	−0.177%	$411K	$72K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.92	−0.158%	$166K	$118K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.80	−0.182%	$324K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.95	−0.153%	$16.3M	$21.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.62	−0.218%	$7.3M	$2.4M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.70	−0.202%	$3.1M	$2.0M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	503.92	−0.159%	$4.0M	$3.0M	100x
Variational Omni MSFT	0.0000%	8h	503.95	−0.153%	$1.3M	$373K	—	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.98	−0.146%	$18K	$320K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	504.72	long leg	$6K	$3.5M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.72	−0.198%	$30K	$47K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.61	−0.220%	$717K	$563K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.83	−0.176%	$49K	$247K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.21	−0.101%	$2.3M	$921K	10x	as long as short
BloFin MSFT-USDT	+0.0010%	8h	504.05	−0.133%	$202K	$218K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.80	−0.182%	$1.2M	$506K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.81	−0.180%	$689K	$1.8M	20x	as long as short
tradeXYZ xyz:MSFT	+0.0040%	1h	503.64	−0.214%	$22.4M	$9.3M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.05	−0.133%	—	$1K	25x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.52	−0.238%	$530K	$402K	15x	as long as short
OKX MSFT-USDT-SWAP	+0.0050%	8h	504.02	−0.139%	$3.2M	$2.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.66	−0.210%	$318K	$675K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.73	−0.196%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	503.78	−0.185%	$222	—	5x	as long as short
QFEX MSFT-USD	+0.0058%	1h	503.82	−0.178%	$1.2M	$4.7M	10x	as long as short
Phoenix MSFT	+0.0079%	1h	503.69	−0.204%	$11K	$5K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.38	−0.265%	$1.6M	$246K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.72	−0.198%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.83	−0.176%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.81	−0.181%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	503.64	−0.214%	$93K	$83K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.66	−0.210%	$115K	$45K	30x	as long as short