Funding you earn now, next payment 09:00 UTC+0.0192%/8h= +21.0% APRnext payment +$0.24 per $10,000 · paid last 24h +0.061%
Price spread now: Injective against Deribit+0.288%63s7-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
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 0.288% dearer against Deribit than usual: you sell high and buy low: +$29 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSFT_USDC-PERPETUAL | 503.85 | 0.0028 | pay 0.0003% / 1h | 14m 08s | $27K | $45K | 10x |
| Short | Injective MSFT/USDC PERP | 505.30 | 0.0220 | get 0.0028% / 1h | 14m 08s | $116K | $45K | 30x |
Deribit MSFT_USDC-PERPETUAL
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $40.33
- Price spread: +0.288% → 0.000%
- $28.78
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $62.09
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Deribit: no order-book sample; Injective: live order book, 19 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 Injective live order book, 19 min ago | 30.23 bp | 30.2 bp −$30 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0868% | 4h | 504.05 | +0.040% | $103K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 503.64 | −0.042% | $685K | $450K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0024% | 1h | 503.57 | −0.056% | $32K | $8K | 20x | as long as short |
| Nado MSFT-PERP | −0.0011% | 1h | 503.80 | −0.010% | $415K | $67K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.15 | +0.059% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.92 | +0.014% | $335K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.05 | +0.040% | $16.3M | $19.5M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.82 | −0.006% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.12 | +0.054% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.82 | −0.006% | $3.1M | $1.9M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Hotstuff MSFT-PERP
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 504.04 | +0.038% | $3.9M | $2.8M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.13 | +0.056% | $1.3M | $392K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.09 | +0.049% | $19K | $316K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.98 | +0.224% | $6K | $3.5M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.07 | +0.044% | $58K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.35 | +0.099% | $2.2M | $851K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.73 | −0.024% | $11K | $15K | 20x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 504.03 | +0.036% | $1.1M | $4.6M | 10x | as long as short |
| BloFin MSFT-USDT | +0.0027% | 8h | 504.09 | +0.048% | $192K | $204K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUALlong | +0.0028% | 1h | 503.85 | long leg | $27K | $45K | 10x | |
| Lighter MSFT | +0.0032% | 1h | 503.94 | +0.018% | $1.2M | $526K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.88 | +0.006% | $701K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.89 | +0.008% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.11 | +0.052% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.50 | −0.069% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.85 | 0.000% | $303K | $650K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.87 | +0.004% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.65 | −0.040% | $536K | $392K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0056% | 8h | 503.94 | +0.018% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.58 | −0.054% | $1.6M | $127K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.72 | −0.026% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.96 | +0.022% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.98 | +0.025% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 505.30 | +0.288% | $116K | $45K | 30x |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
QFEX MSFT-USD
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
Arcus MSFT-USD
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