Funding you earn now, next payment 02:00 UTC+0.0089%/8h= +9.7% APRnext payment +$0.11 per $10,000 · paid last 24h −0.068%
Price spread now: Deribit against Arcus+0.012%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus MSFT-USD | 501.33 | 0.0040 | pay 0.0005% / 1h | 25m 51s | $97K | $109K | 10x |
| Short | Deribit MSFT_USDC-PERPETUAL | 501.39 | 0.0129 | get 0.0016% / 1h | 25m 51s | $27K | $41K | 10x |
Arcus MSFT-USD
Deribit MSFT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Arcus. 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
- $18.65
- Price spread: +0.012% → 0.000%
- $1.2
- Slippage, 4 orders
- no order book: not counted
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $8.35
- Costs to cover
- 0.115%
- Break-even
- 3.9 days
Slippage unknown: Arcus: live order book, 42 min ago; Deribit: no order-book sample. 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 Arcus live order book, 42 min ago | 2.29 bp | 8.3 bp −$8 | 12.7 bp −$127 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 33 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 500.87 | −0.092% | $684K | $451K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.52 | +0.039% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.48 | +0.030% | $337K | $899K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.62 | +0.058% | $15.6M | $18.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.51 | +0.036% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.65 | +0.064% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.38 | +0.010% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.44 | +0.022% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.54 | +0.041% | $1.3M | $682K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.43 | +0.019% | $19K | $294K | 10x | as long as short |
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 502.39 | +0.211% | $6K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.45 | +0.024% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.64 | +0.062% | $2.2M | $765K | 10x | as long as short |
| Nado MSFT-PERP | +0.0006% | 1h | 501.22 | −0.022% | $414K | $64K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.40 | +0.014% | $618K | $2.0M | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0032% | 1h | 501.13 | −0.040% | $32K | $8K | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 501.43 | +0.020% | $1.1M | $5.8M | 10x | as long as short |
| Arcus MSFT-USDlong | +0.0040% | 1h | 501.33 | long leg | $97K | $109K | 10x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.30 | −0.006% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.11 | −0.044% | $22.1M | $9.2M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.20 | −0.026% | $303K | $671K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.49 | +0.032% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.15 | −0.036% | $521K | $518K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.42 | +0.018% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.21 | −0.024% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.15 | −0.036% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.07 | −0.052% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.43 | +0.020% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.48 | +0.029% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUALshort | +0.0129% | 1h | 501.39 | +0.012% | $27K | $41K | 10x | |
| Lighter MSFT | +0.0176% | 1h | 501.67 | +0.068% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.62 | +0.058% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0314% | 4h | 501.51 | +0.036% | $102K | $242K | 10x | as long as short |
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
Lighter RH MSFT
Hotstuff MSFT-PERP
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
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP
edgeX MSFTUSDC