MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0021%/8h= −2.3% APRnext payment −$0.21 per $10,000 · paid last 24h −0.011%

Price spread now: Bybit against BloFin−0.038%82s7-day average −0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as 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−$400.402% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)−0.025%−$2 · spread now −0.038%, 7d avg −0.028%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 82 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	BloFin MSFT-USDT	501.90	0.0021	pay 0.0021% / 8h	5h 33m	$189K	$204K	20x
Short	Bybit MSFTUSDT	501.71	0	get 0.0000% / 8h	5h 33m	$7.4M	$1.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$4.36
Price spread: −0.038% → −0.028%: −$1
Slippage, 4 orders: −$17.17
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.53
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Bybit: 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 BloFin live order book, 4 min ago	0.10 bp	12.8 bp −$13	17.0 bp −$170	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.69 bp	10.4 bp −$10	19.2 bp −$192	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.132%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0035%	1h	501.49	−0.082%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.89	−0.002%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.65	−0.050%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.87	−0.006%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDTshort	0.0000%	8h	501.71	−0.038%	$7.4M	$1.6M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	+0.012%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.71	−0.038%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.77	−0.026%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.82	−0.017%	$1.3M	$650K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.88	−0.004%	$19K	$297K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.54	+0.128%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.63	−0.054%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.63	−0.054%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.96	+0.012%	$2.2M	$769K	10x	as long as short
BloFin MSFT-USDTlong	+0.0021%	8h	501.90	long leg	$189K	$204K	20x
Hotstuff MSFT-PERP	+0.0024%	1h	501.34	−0.112%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.63	−0.054%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.62	−0.056%	$684K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.62	−0.056%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.64	−0.052%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.44	−0.092%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.40	−0.100%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.67	−0.046%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.40	−0.100%	$525K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	501.64	−0.052%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.58	−0.064%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.68	−0.044%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.40	−0.100%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.73	−0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.67	−0.046%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	502.03	+0.026%	$1.1M	$458K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.267%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0697%	4h	501.78	−0.024%	$102K	$243K	10x	as long as short