Funding you earn now, next payment 03:00 UTC+0.0040%/8h= +4.4% APRnext payment +$0.05 per $10,000 · paid last 24h +0.014%
Price spread now: Deribit against Coinbase International+0.004%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSFT-PERP-INTX | 500.97 | −0.0040 | get 0.0005% / 1h | 45m 37s | $678K | $458K | 10x |
| Short | Deribit MSFT_USDC-PERPETUAL | 500.99 | 0 | get 0.0000% / 1h | 45m 37s | $27K | $41K | 10x |
Coinbase International MSFT-PERP-INTX
Deribit MSFT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Coinbase International. 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
- $8.4
- Price spread: +0.004% → 0.000%
- $0.4
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$8.2
- Costs to cover
- 0.170%
- Break-even
- 13.8 days
Slippage unknown: Coinbase International: live order book, 13 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 Coinbase International live order book, 13 min ago | 2.70 bp | 8.3 bp −$8 | 10.4 bp −$104 | 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 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 | −0.0045% | 1h | 501.06 | +0.018% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTXlong | −0.0040% | 1h | 500.97 | long leg | $678K | $458K | 10x | |
| Aster MSFTUSDT | 0.0000% | 8h | 501.02 | +0.010% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.23 | +0.051% | $341K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.36 | +0.078% | $15.7M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.08 | +0.022% | $7.2M | $2.1M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.31 | +0.068% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.21 | +0.048% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.32 | +0.070% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.27 | +0.060% | $1.3M | $617K | — | as long as short |
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit 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 | +0.064% | $19K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.12 | +0.230% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUALshort | 0.0000% | 1h | 500.99 | +0.004% | $27K | $41K | 10x | |
| HTX MSFT-USDT | 0.0000% | 8h | 501.21 | +0.048% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.59 | +0.124% | $2.2M | $777K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0002% | 8h | 501.45 | +0.096% | $190K | $204K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.84 | −0.026% | $32K | $8K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.11 | +0.028% | $680K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 501.21 | +0.048% | $1.1M | $5.6M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.01 | +0.008% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.09 | +0.024% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.06 | +0.018% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.83 | −0.028% | $22.1M | $8.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.89 | −0.016% | $295K | $673K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | +0.054% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.99 | +0.004% | $527K | $456K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0056% | 8h | 501.19 | +0.044% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.83 | −0.028% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.81 | −0.032% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.18 | +0.042% | $8K | — | 10x | as long as short |
| Lighter MSFT | +0.0104% | 1h | 501.35 | +0.076% | $1.1M | $489K | 20x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.18 | +0.043% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.34 | +0.074% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0292% | 4h | 501.27 | +0.060% | $102K | $244K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Hotstuff MSFT-PERP
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
edgeX MSFTUSDC