Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.017%
Price spread now: tradeXYZ against ApeX Omni+0.056%45s7-day average −0.026% · you sell dearer than you buy
Net, funding: paid 7d − costs−$54as 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−$410.405% of the position
Funding, last 7 days−0.140%−$14 on $10k
+Price spread, last 4 days (all we have)−0.095%−$9 · spread now +0.056%, 7d avg −0.026%
=Together, before fees−0.235%+ Points / potential airdroptradeXYZ: Active · farm board−$23 on $10k · with fees, hour by hour
The price spread pays, funding is against you. tradeXYZ is 0.082% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.056% now, against its 7-day average of −0.026%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.4 days. The two prices were read 45 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 | 503.37 | 0.0100 | pay 0.0013% / 1h | 26m 45s | $160K | $7K | 50x |
| Short | tradeXYZ xyz:MSFT | 503.65 | 0.0050 | get 0.0006% / 1h | 26m 45s | $22.4M | $8.9M | 20x |
ApeX Omni MSFTUSDT
tradeXYZ xyz:MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$10.5
- Price spread: +0.056% → −0.026%
- $8.17
- Slippage, 4 orders
- −$12.52
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$42.85
- Costs to cover
- 0.405%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 19 min ago; tradeXYZ: live order book, 2 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, 19 min ago | 5.08 bp | 10.1 bp −$10 | 52.3 bp −$523 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 2 min ago | 0.60 bp | 10.3 bp −$10 | 13.2 bp −$132 | 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 | −0.0595% | 4h | 504.01 | +0.128% | $103K | $242K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.76 | +0.077% | $687K | $483K | 10x | as long as short |
| Nado MSFT-PERP | −0.0029% | 1h | 504.21 | +0.167% | $415K | $68K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0017% | 8h | 504.20 | +0.165% | $189K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.91 | +0.107% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.87 | +0.099% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.00 | +0.125% | $15.8M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.78 | +0.081% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.91 | +0.107% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.70 | +0.066% | $3.1M | $1.8M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
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 | 503.99 | +0.123% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.95 | +0.115% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.79 | +0.083% | $19K | $317K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.93 | +0.310% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.79 | +0.083% | $27K | $43K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.03 | +0.131% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.45 | +0.215% | $2.2M | $799K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.67 | +0.060% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.81 | +0.087% | $688K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 503.97 | +0.119% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.72 | +0.070% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.27 | +0.179% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFTshort | +0.0050% | 1h | 503.65 | +0.056% | $22.4M | $8.9M | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.82 | +0.089% | $303K | $720K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.98 | +0.121% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.80 | +0.085% | $518K | $471K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.96 | +0.118% | $222 | — | 5x | as long as short |
| Lighter MSFT | +0.0096% | 1h | 504.13 | +0.151% | $1.2M | $516K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.34 | −0.006% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDTlong | +0.0100% | 1h | 503.37 | long leg | $160K | $7K | 50x | |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.97 | +0.119% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.00 | +0.125% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0192% | 1h | 503.87 | +0.099% | $33K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.04 | +0.133% | $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
Phemex MSFTUSDT
Phoenix MSFT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Lighter MSFT
KuCoin MSFTUSDTM
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP