MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0260%/8h= +28.5% APRnext payment +$0.33 per $10,000 · paid last 24h +0.062%

Price spread now: Injective against Coinbase International+0.100%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.476%+$48 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now +0.100%, 7d avg +0.059%

Together, before fees+0.520%+$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Injective is 0.041% dearer against Coinbase International than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	501.53	−0.0040	get 0.0005% / 1h	28m 31s	$689K	$433K	10x
Short	Injective MSFT/USDC PERP	502.03	0.0220	get 0.0028% / 1h	28m 31s	$115K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 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 Coinbase InternationalbpFee InjectivebpOrdersPrice spread, now +0.100%Rate

Funding earned: $54.6
Price spread: +0.100% → +0.059%: $4.1
Slippage, 4 orders: −$26.81
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $21.87
Costs to cover: 0.368%
Break-even: 4.2 days

Slippage from Coinbase International: live order book, 59 min ago; Injective: live order book, 60 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 Coinbase International live order book, 59 min ago	2.29 bp	8.1 bp −$8	10.5 bp −$105	doesn't fit	doesn't fit
Sell Injective live order book, 60 min ago	10.46 bp	10.5 bp −$10	10.5 bp −$105	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-INTXlong	−0.0040%	1h	501.53	long leg	$689K	$433K	10x
Hotstuff MSFT-PERP	−0.0032%	1h	501.36	−0.034%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0026%	1h	501.41	−0.025%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	+0.096%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.65	+0.025%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.71	+0.036%	$15.7M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.83	+0.060%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.94	+0.082%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.55	+0.004%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.71	+0.036%	$3.8M	$2.2M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.82	+0.058%	$1.3M	$726K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.67	+0.028%	$18K	$330K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.54	+0.201%	$6K	$4.4M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.71	+0.036%	$59K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.24	+0.142%	$2.2M	$760K	10x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	501.81	+0.056%	$189K	$209K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.67	+0.028%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.57	+0.008%	$662K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.68	+0.030%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.37	−0.032%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.26	−0.054%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.66	+0.026%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.63	+0.020%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.31	−0.044%	$515K	$485K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.69	+0.032%	$1.2M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.57	+0.008%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.21	−0.064%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.29	−0.048%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.63	+0.020%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.72	+0.038%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0129%	1h	501.69	+0.032%	$27K	$104K	10x	as long as short
Injective MSFT/USDC PERPshort	+0.0220%	1h	502.03	+0.100%	$115K	$45K	30x
edgeX MSFTUSDC	+0.0333%	4h	501.77	+0.047%	$102K	$244K	10x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.55	+0.004%	$109K	$90K	10x	as long as short