Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%
Price spread now: Phemex against ApeX Omni+0.102%77s7-day average +0.119% · you sell dearer than you buy
Net, funding: paid 7d − costs−$105as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$840.842% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 3 days (all we have)+0.029%+$3 · spread now +0.102%, 7d avg +0.119%
=The price spread sits at its 7-day average of +0.119%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni MSFTUSDT | 501.19 | 0.0100 | pay 0.0013% / 1h | 34m 21s | $160K | $7K | 50x |
| Short | Phemex MSFTUSDT | 501.70 | 0 | get 0.0000% / 8h | 7h 34m | $2.2M | $758K | 10x |
ApeX Omni MSFTUSDT
Phemex MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against ApeX Omni. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: +0.102% → +0.119%
- −$1.73
- Slippage, 4 orders
- −$62.17
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$106.9
- Costs to cover
- 0.842%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 37 min ago; Phemex: live order book, 4 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 ApeX Omni live order book, 37 min ago | 5.09 bp | 10.1 bp −$10 | 63.0 bp −$630 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 0.20 bp | 31.5 bp −$31 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0276% | 4h | 501.71 | +0.104% | $102K | $242K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0020% | 8h | 501.57 | +0.076% | $188K | $206K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0008% | 1h | 501.13 | −0.012% | $680K | $456K | 10x | as long as short |
| Nado MSFT-PERP | −0.0002% | 1h | 501.29 | +0.019% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.58 | +0.078% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.47 | +0.056% | $337K | $983K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.57 | +0.076% | $15.7M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.59 | +0.080% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.70 | +0.102% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.26 | +0.014% | $3.1M | $1.6M | 100x | as long as short |
edgeX MSFTUSDC
BloFin MSFT-USDT
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.59 | +0.080% | $3.8M | $2.2M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.74 | +0.110% | $1.3M | $690K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.86 | +0.134% | $19K | $295K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.36 | +0.233% | $6K | $4.2M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.24 | +0.010% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.51 | +0.064% | $58K | $227K | 20x | as long as short |
| Phemex MSFTUSDTshort | 0.0000% | 8h | 501.70 | +0.102% | $2.2M | $758K | 10x | |
| Lighter RH MSFT | +0.0032% | 1h | 501.42 | +0.046% | $619K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0044% | 1h | 501.58 | +0.078% | $1.1M | $5.9M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.46 | +0.054% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.23 | +0.008% | $22.2M | $9.1M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.23 | +0.008% | $303K | $674K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.49 | +0.060% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.39 | +0.040% | $527K | $488K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0051% | 8h | 501.45 | +0.052% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.66 | +0.094% | $10K | $15K | 20x | as long as short |
| Lighter MSFT | +0.0080% | 1h | 501.65 | +0.092% | $1.1M | $486K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0096% | 1h | 501.26 | +0.014% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.50 | +0.062% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDTlong | +0.0100% | 1h | 501.19 | long leg | $160K | $7K | 50x | |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.54 | +0.070% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.45 | +0.052% | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | +0.0212% | 1h | 501.53 | +0.068% | $97K | $109K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.00 | +0.162% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Lighter MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Arcus MSFT-USD
Injective MSFT/USDC PERP