Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.012%
Price spread now: Ondo Perps against Bybit−0.053%7-day average −0.074% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.107%+$11 on $10k
+Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.053%, 7d avg −0.074%
=Together, before fees+0.071%+ Points / potential airdropOndo Perps: Active · farm board+$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.021% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.074%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSFTUSDT | 506.24 | 0 | get 0.0000% / 8h | 4h 50m | $7.3M | $2.4M | 100x |
| Short | Ondo Perps MSFT-USD.P | 505.97 | 0.0050 | get 0.0006% / 1h | 50m 35s | $525K | $425K | 15x |
Bybit MSFTUSDT
Ondo Perps MSFT-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- $10.58
- Price spread: −0.053% → −0.074%
- $2.1
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$3.32
- Costs to cover
- 0.160%
- Break-even
- 9.2 days
Slippage unknown: Bybit: live order book, 5 min ago; Ondo Perps: 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 Bybit live order book, 5 min ago | 1.09 bp | 11.9 bp −$12 | 20.0 bp −$200 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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 34 exchanges
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 | −0.0039% | 1h | 506.42 | +0.036% | $413K | $72K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.0024% | 1h | 505.78 | −0.091% | $33K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0008% | 1h | 506.31 | +0.014% | $714K | $681K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 506.11 | −0.025% | $166K | $117K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 506.36 | +0.024% | $326K | $2.0M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 506.44 | +0.040% | $16.4M | $21.9M | 20x | as long as short |
| Bybit MSFTUSDTlong | 0.0000% | 8h | 506.24 | long leg | $7.3M | $2.4M | 100x | |
| Gate MSFT_USDT | 0.0000% | 8h | 506.30 | +0.012% | $3.2M | $2.0M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 506.40 | +0.032% | $4.0M | $3.2M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 506.43 | +0.037% | $1.3M | $418K | — | as long as short |
Nado MSFT-PERP
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 506.04 | −0.040% | $19K | $325K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 507.29 | +0.207% | $6K | $3.4M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 506.29 | +0.010% | $30K | $46K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 506.38 | +0.028% | $49K | $248K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 506.67 | +0.085% | $2.3M | $949K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0019% | 8h | 506.58 | +0.067% | $203K | $223K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 506.33 | +0.018% | $1.2M | $503K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 506.30 | +0.012% | $721K | $1.9M | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 506.44 | +0.040% | $1.2M | $4.7M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 506.12 | −0.024% | $94K | $83K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 506.61 | +0.073% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 505.89 | −0.069% | $11K | $16K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 506.15 | −0.018% | $22.5M | $9.3M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 506.22 | −0.004% | $320K | $674K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 506.00 | −0.047% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.Pshort | +0.0050% | 1h | 505.97 | −0.053% | $525K | $425K | 15x | |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 506.41 | +0.034% | $223 | — | 5x | as long as short |
| OKX MSFT-USDT-SWAP | +0.0069% | 8h | 506.45 | +0.041% | $3.2M | $2.8M | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0084% | 8h | 505.96 | −0.055% | $1.6M | $288K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 505.57 | −0.132% | $161K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 506.38 | +0.028% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 505.55 | −0.137% | $56 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 506.25 | +0.002% | $116K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0228% | 4h | 505.88 | −0.071% | $103K | $243K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
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
Paradex MSFT-USD-PERP
OKX MSFT-USDT-SWAP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC