Funding you earn now, next payment 09:00 UTC−0.0246%/8h= −26.9% APRnext payment −$0.31 per $10,000 · paid last 24h +0.076%
Price spread now: Arcus against Deribit−0.014%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 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: −$7 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSFT_USDC-PERPETUAL | 504.10 | 0.0286 | pay 0.0036% / 1h | 10m 51s | $27K | $45K | 10x |
| Short | Arcus MSFT-USD | 504.03 | 0.0040 | get 0.0005% / 1h | 10m 51s | $97K | $110K | 10x |
Deribit MSFT_USDC-PERPETUAL
Arcus MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Deribit. 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
- −$51.58
- Price spread: −0.014% → 0.000%
- −$1.39
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$64.47
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Arcus: live order book, 22 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 22 min ago | 3.27 bp | 8.1 bp −$8 | 8.5 bp −$85 | 17.4 bp −$1,745 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 503.64 | −0.091% | $685K | $450K | 10x | as long as short |
| Nado MSFT-PERP | −0.0010% | 1h | 503.90 | −0.039% | $415K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0008% | 8h | 504.38 | +0.056% | $191K | $205K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.17 | +0.013% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.24 | +0.027% | $336K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.37 | +0.054% | $16.3M | $19.5M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.00 | −0.020% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.37 | +0.054% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.03 | −0.014% | $3.1M | $1.9M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.26 | +0.032% | $3.9M | $2.8M | 100x | as long as short |
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.13 | +0.006% | $1.3M | $392K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.10 | 0.000% | $19K | $314K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.12 | +0.202% | $6K | $3.5M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.23 | +0.026% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.49 | +0.077% | $2.2M | $853K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.67 | −0.085% | $11K | $15K | 20x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 504.23 | +0.026% | $1.1M | $4.6M | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 504.07 | −0.006% | $1.2M | $527K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 504.08 | −0.004% | $701K | $1.9M | 20x | as long as short |
| Arcus MSFT-USDshort | +0.0040% | 1h | 504.03 | −0.014% | $97K | $110K | 10x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.16 | +0.012% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.77 | −0.065% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.94 | −0.032% | $303K | $650K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.09 | −0.002% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.92 | −0.036% | $536K | $392K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 504.14 | +0.008% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.65 | −0.089% | $1.6M | $130K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.74 | −0.071% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.08 | −0.004% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.09 | −0.002% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0216% | 1h | 503.55 | −0.109% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.07 | −0.006% | $115K | $45K | 30x | as long as short |
| Deribit MSFT_USDC-PERPETUALlong | +0.0286% | 1h | 504.10 | long leg | $27K | $45K | 10x | |
| edgeX MSFTUSDC | +0.0856% | 4h | 504.04 | −0.013% | $103K | $244K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
QFEX MSFT-USD
Lighter MSFT
Lighter RH MSFT
Vest MSFT-USD-PERP
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
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC