Funding you earn now, next payment 01:00 UTC+0.0066%/8h= +7.2% APRnext payment +$0.08 per $10,000 · paid last 24h +0.018%
Price spread now: tradeXYZ against Coinbase International+0.042%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$360.357% of the position
Funding, last 7 days+0.093%+$9 on $10k
+Price spread, last 3 days (all we have)−0.104%−$10 · spread now +0.042%, 7d avg +0.013%
=Together, before fees−0.011%+ Points / potential airdroptradeXYZ: Active · farm board−$1 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 tradeXYZ is 0.029% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.013%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSFT-PERP-INTX | 501.22 | −0.0016 | get 0.0002% / 1h | 17m 47s | $679K | $457K | 10x |
| Short | tradeXYZ xyz:MSFT | 501.43 | 0.0050 | get 0.0006% / 1h | 17m 47s | $22.1M | $9.3M | 20x |
Coinbase International MSFT-PERP-INTX
tradeXYZ xyz:MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- $13.86
- Price spread: +0.042% → +0.013%
- $2.89
- Slippage, 4 orders
- −$7.7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$18.96
- Costs to cover
- 0.357%
- Break-even
- 16.6 days
Slippage from Coinbase International: live order book, 50 min ago; tradeXYZ: live order book, 11 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, 50 min ago | 1.80 bp | 7.7 bp −$8 | 11.4 bp −$114 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 11 min ago | 0.10 bp | 9.7 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
MSFT on 33 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 | −0.0016% | 1h | 501.22 | long leg | $679K | $457K | 10x | |
| Aster MSFTUSDT | 0.0000% | 8h | 501.81 | +0.118% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.63 | +0.082% | $337K | $899K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.74 | +0.104% | $15.6M | $18.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.67 | +0.090% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.91 | +0.138% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.62 | +0.080% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.66 | +0.088% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.69 | +0.094% | $1.3M | $682K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.56 | +0.068% | $19K | $295K | 10x | as long as short |
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 502.53 | +0.261% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.64 | +0.084% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.69 | +0.094% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.02 | +0.160% | $2.2M | $765K | 10x | as long as short |
| Nado MSFT-PERP | +0.0001% | 1h | 501.59 | +0.074% | $414K | $64K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.61 | +0.078% | $622K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 501.60 | +0.076% | $1.1M | $5.7M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.50 | +0.056% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.69 | +0.094% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFTshort | +0.0050% | 1h | 501.43 | +0.042% | $22.1M | $9.3M | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.37 | +0.030% | $303K | $671K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.64 | +0.084% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.46 | +0.048% | $522K | $519K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.65 | +0.086% | $221 | — | 5x | as long as short |
| Hotstuff MSFT-PERP | +0.0064% | 1h | 501.43 | +0.042% | $32K | $8K | 20x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.46 | +0.048% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.47 | +0.050% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.24 | +0.004% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.69 | +0.094% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.64 | +0.084% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0168% | 1h | 501.86 | +0.128% | $1.1M | $489K | 20x | as long as short |
| edgeX MSFTUSDC | +0.0215% | 4h | 501.70 | +0.095% | $102K | $243K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.78 | +0.112% | $115K | $45K | 30x | as long as short |
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Hotstuff MSFT-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
edgeX MSFTUSDC
Injective MSFT/USDC PERP