Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.013%

Price spread now: Aster against tradeXYZ+0.073%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$670.666% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now +0.073%, 7d avg +0.118%

Together, before fees+0.062%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board+$6 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 0.045% cheaper against tradeXYZ than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSFT	501.42	0.0002	pay 0.0000% / 1h	46m 57s	$22.1M	$9.1M	20x
Short	Aster MSFTUSDT	501.79	0	get 0.0000% / 8h	5h 46m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$0.37
Price spread: +0.073% → +0.118%: −$4.45
Slippage, 4 orders: −$40.57
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$71.39
Costs to cover: 0.666%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 2 min ago; Aster: live order book, 14 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 tradeXYZ live order book, 2 min ago	0.50 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 14 min ago	10.36 bp	26.6 bp −$27	doesn't fit	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
Nado MSFT-PERP	−0.0124%	1h	501.56	+0.027%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.036%	$679K	$456K	10x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	501.29	−0.026%	$32K	$8K	20x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	501.79	+0.073%	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.78	+0.073%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.89	+0.094%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.64	+0.044%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.92	+0.100%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.63	+0.042%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.87	+0.090%	$4.5M	$2.5M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.49	+0.013%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.60	+0.037%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.66	+0.247%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.55	+0.026%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.69	+0.054%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.02	+0.120%	$2.2M	$764K	10x	as long as short
tradeXYZ xyz:MSFTlong	+0.0002%	1h	501.42	long leg	$22.1M	$9.1M	20x
BloFin MSFT-USDT	+0.0027%	8h	502.00	+0.116%	—	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.56	+0.028%	$1.2M	$5.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.80	+0.076%	$1.1M	$454K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.54	+0.024%	$668K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.40	−0.004%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.59	+0.034%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.30	−0.024%	$303K	$646K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.70	+0.056%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.37	−0.010%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.61	+0.038%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.28	−0.028%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.58	+0.032%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.36	−0.012%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.62	+0.040%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.62	+0.039%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.81	+0.078%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0247%	4h	501.48	+0.012%	$102K	$243K	10x	as long as short