Funding you earn now, next payment 04:00 UTC+0.0292%/8h= +32.0% APRpaid last 24h +0.002%
Price spread now: edgeX against Bybit+0.050%61s7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$32as 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−$410.408% of the position
Funding, last 7 days+0.085%+$8 on $10k
+Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.050%, 7d avg +0.009%
=Together, before fees+0.004%+ Points / potential airdropedgeX: Active · farm board$0 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and edgeX is 0.041% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.009%. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.085% in total (about 4.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSFTUSDT | 501.02 | 0 | get 0.0000% / 8h | 4h 44m | $7.2M | $2.1M | 100x |
| Short | edgeX MSFTUSDC | 501.27 | 0.0292 | get 0.0146% / 4h | 44m 37s | $102K | $244K | 10x |
Bybit MSFTUSDT
edgeX MSFTUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX against Bybit. 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
- $61.35
- Price spread: +0.050% → +0.009%
- $4.15
- Slippage, 4 orders
- −$20.79
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- $24.7
- Costs to cover
- 0.408%
- Break-even
- 4.2 days
Slippage from Bybit: live order book, 3 min ago; edgeX: live order book, 13 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 Bybit live order book, 3 min ago | 0.60 bp | 9.4 bp −$9 | 20.7 bp −$207 | doesn't fit | doesn't fit |
| Sell edgeX live order book, 13 min ago | 5.59 bp | 10.2 bp −$10 | 12.4 bp −$124 | 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 | −0.0041% | 1h | 500.94 | −0.016% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 500.97 | −0.010% | $678K | $458K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.06 | +0.007% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.15 | +0.025% | $341K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.29 | +0.054% | $15.7M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDTlong | 0.0000% | 8h | 501.02 | long leg | $7.2M | $2.1M | 100x | |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.31 | +0.058% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.22 | +0.040% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.32 | +0.060% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.27 | +0.050% | $1.3M | $617K | — | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.29 | +0.054% | $19K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.09 | +0.214% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 500.97 | −0.010% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.18 | +0.032% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.55 | +0.106% | $2.2M | $777K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.80 | −0.044% | $32K | $8K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0028% | 8h | 501.32 | +0.060% | $189K | $204K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.11 | +0.018% | $680K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 501.17 | +0.030% | $1.1M | $5.6M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.01 | −0.002% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.06 | +0.008% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.04 | +0.004% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.81 | −0.042% | $22.0M | $8.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.86 | −0.032% | $295K | $673K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.21 | +0.038% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.84 | −0.036% | $527K | $456K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0056% | 8h | 501.14 | +0.024% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.80 | −0.044% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.94 | −0.016% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.19 | +0.034% | $8K | — | 10x | as long as short |
| Lighter MSFT | +0.0104% | 1h | 501.27 | +0.050% | $1.1M | $489K | 20x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.20 | +0.036% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.34 | +0.064% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDCshort | +0.0292% | 4h | 501.27 | +0.050% | $102K | $244K | 10x |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Lighter MSFT
Aevo MSFT-PERP
Injective MSFT/USDC PERP