Funding you earn now, next payment 07:00 UTC−0.0883%/8h= −96.7% APRpaid last 24h +0.077%
Price spread now: Phoenix against edgeX−0.098%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.036%+$4 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Phoenix is 0.098% cheaper against edgeX than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.036% in total (about 1.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX MSFTUSDC | 503.54 | 0.0947 | pay 0.0473% / 4h | 3h 56m | $102K | $244K | 10x |
| Short | Phoenix MSFT | 503.05 | 0.0064 | get 0.0008% / 1h | 56m 40s | $11K | $15K | 20x |
edgeX MSFTUSDC
Phoenix MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against edgeX. 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
- −$185.44
- Price spread: −0.098% → 0.000%
- −$9.82
- Slippage, 4 orders
- no order book: not counted
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$211.26
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: edgeX: live order book, 41 min ago; Phoenix: 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 edgeX live order book, 41 min ago | 5.26 bp | 10.0 bp −$10 | 12.4 bp −$124 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | 503.34 | −0.041% | $690K | $480K | 10x | as long as short |
| Nado MSFT-PERP | −0.0052% | 1h | 503.46 | −0.016% | $414K | $67K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.65 | +0.021% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.75 | +0.041% | $339K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.77 | +0.044% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.56 | +0.003% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.90 | +0.071% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.62 | +0.015% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.75 | +0.041% | $3.9M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.61 | +0.013% | $1.3M | $400K | — | as long as short |
Coinbase International MSFT-PERP-INTX
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 | 503.46 | −0.017% | $19K | $318K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.63 | +0.216% | $6K | $3.7M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.66 | +0.023% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.76 | +0.043% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.23 | +0.136% | $2.2M | $820K | 10x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 503.63 | +0.017% | $1.1M | $4.6M | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 503.09 | −0.090% | $32K | $8K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0028% | 8h | 503.89 | +0.069% | $192K | $206K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.57 | +0.005% | $1.2M | $509K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.49 | −0.011% | $705K | $1.8M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.59 | +0.009% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.72 | +0.035% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.29 | −0.051% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.45 | −0.019% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.61 | +0.013% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.36 | −0.037% | $513K | $429K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0051% | 8h | 503.56 | +0.003% | $222 | — | 5x | as long as short |
| Phoenix MSFTshort | +0.0064% | 1h | 503.05 | −0.098% | $11K | $15K | 20x | |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.28 | −0.053% | $1.6M | $86K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 502.95 | −0.118% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.77 | +0.045% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.83 | +0.056% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.87 | +0.065% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDClong | +0.0947% | 4h | 503.54 | long leg | $102K | $244K | 10x |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
Hotstuff MSFT-PERP
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
Injective MSFT/USDC PERP