Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.012%
Price spread now: SoDEX against Bybit+0.036%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
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and SoDEX is 0.036% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSFTUSDT | 503.23 | 0 | get 0.0000% / 8h | 20m 00s | $7.2M | $2.3M | 100x |
| Short | SoDEX MSFT-USD | 503.41 | 0.0050 | get 0.0006% / 1h | 20m 00s | $60K | $3K | 10x |
Bybit MSFTUSDT
SoDEX MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- $10.5
- Price spread: +0.036% → 0.000%
- $3.58
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$4.92
- Costs to cover
- 0.190%
- Break-even
- 10.3 days
Slippage unknown: Bybit: live order book, 3 min ago; SoDEX: 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, 3 min ago | 1.49 bp | 9.4 bp −$9 | 23.2 bp −$232 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
SoDEX: 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MSFT_USDC-PERPETUAL | −0.0366% | 1h | 503.24 | +0.002% | $27K | $44K | 10x | as long as short |
| Nado MSFT-PERP | −0.0043% | 1h | 503.56 | +0.066% | $415K | $67K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.75 | +0.102% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.46 | +0.046% | $338K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.59 | +0.072% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDTlong | 0.0000% | 8h | 503.23 | long leg | $7.2M | $2.3M | 100x | |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.66 | +0.085% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.40 | +0.034% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.62 | +0.077% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.52 | +0.057% | $1.3M | $404K | — | as long as short |
Deribit MSFT_USDC-PERPETUAL
Nado MSFT-PERP
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 | 503.69 | +0.091% | $18K | $321K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.42 | +0.236% | $6K | $3.8M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 503.16 | −0.014% | $681K | $447K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.55 | +0.064% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.83 | +0.119% | $2.2M | $818K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0003% | 8h | 503.62 | +0.077% | $191K | $206K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0009% | 1h | 503.16 | −0.014% | $22.4M | $8.9M | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.54 | +0.062% | $1.2M | $532K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.44 | +0.042% | $708K | $1.9M | 20x | as long as short |
| edgeX MSFTUSDC | +0.0036% | 4h | 503.49 | +0.051% | $102K | $243K | 10x | as long as short |
| QFEX MSFT-USD | +0.0037% | 1h | 503.48 | +0.050% | $1.1M | $4.6M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.33 | +0.020% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.77 | +0.107% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.26 | +0.006% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USDshort | +0.0050% | 1h | 503.41 | +0.036% | $60K | $3K | 10x | |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.17 | −0.012% | $512K | $428K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.57 | +0.068% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.40 | +0.034% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.95 | −0.056% | $1.6M | $68K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.37 | +0.028% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.46 | +0.046% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.51 | +0.056% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0128% | 1h | 503.19 | −0.008% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.86 | +0.324% | $116K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
tradeXYZ xyz:MSFT
Lighter MSFT
Lighter RH MSFT
edgeX MSFTUSDC
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps 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
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP