Funding you earn now, next payment 23:00 UTC+0.0220%/8h= +24.1% APRnext payment +$0.28 per $10,000 · paid last 24h +0.057%
Price spread now: Injective against Extended+0.079%7-day average −0.036% · 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−$20as in the Price arb table
costs, in and out, $10k−$320.316% of the position
Funding, last 7 days+0.428%+$43 on $10k
+Price spread, last 3 days (all we have)−0.021%−$2 · spread now +0.079%, 7d avg −0.036%
=Together, before fees+0.407%+ Points / potential airdropExtended: Active · farm board+$41 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.115% dearer against Extended than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.036%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MSFT_24_5-USD | 501.94 | 0 | get 0.0000% / 1h | 32m 59s | $337K | $407K | 17x |
| Short | Injective MSFT/USDC PERP | 502.34 | 0.0220 | get 0.0028% / 1h | 32m 59s | $115K | $45K | 30x |
Extended MSFT_24_5-USD
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Extended. 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
- $46.2
- Price spread: +0.079% → −0.036%
- $11.51
- Slippage, 4 orders
- −$26.57
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $26.12
- Costs to cover
- 0.316%
- Break-even
- 3.0 days
Slippage from Extended: live order book, 49 min ago; Injective: live order book, 51 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 Extended live order book, 49 min ago | 0.60 bp | 5.7 bp −$6 | 33.4 bp −$334 | doesn't fit | doesn't fit |
| Sell Injective live order book, 51 min ago | 10.07 bp | 10.1 bp −$10 | 10.1 bp −$101 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0036% | 4h | 501.87 | −0.014% | $102K | $243K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0011% | 8h | 502.05 | +0.021% | $188K | $210K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.07 | +0.025% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USDlong | 0.0000% | 1h | 501.94 | long leg | $337K | $407K | 17x | |
| Binance MSFTUSDT | 0.0000% | 8h | 502.03 | +0.018% | $15.7M | $19.3M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.96 | +0.004% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.75 | −0.038% | $3.1M | $1.6M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.99 | +0.010% | $1.3M | $708K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.01 | +0.014% | $18K | $318K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.80 | +0.171% | $6K | $4.4M | 20x | as long as short |
edgeX MSFTUSDC
BloFin MSFT-USDT
Aster MSFTUSDT
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.69 | −0.050% | $27K | $104K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 501.58 | −0.072% | $688K | $449K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.87 | −0.014% | $59K | $229K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.11 | +0.033% | $2.2M | $763K | 10x | as long as short |
| Bitget MSFTUSDT | +0.0006% | 8h | 502.02 | +0.016% | $3.8M | $2.2M | 100x | as long as short |
| Bybit MSFTUSDT | +0.0024% | 8h | 501.98 | +0.008% | $7.4M | $1.7M | 100x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.88 | −0.012% | $654K | $2.1M | 20x | as long as short |
| QFEX MSFT-USD | +0.0040% | 1h | 501.97 | +0.006% | $1.2M | $5.8M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.80 | −0.028% | — | — | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.61 | −0.066% | $22.3M | $9.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.56 | −0.076% | $305K | $681K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.94 | 0.000% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.60 | −0.068% | $529K | $493K | 15x | as long as short |
| Nado MSFT-PERP | +0.0051% | 1h | 501.56 | −0.077% | $414K | $64K | 20x | as long as short |
| Paradex MSFT-USD-PERP | +0.0063% | 8h | 501.77 | −0.034% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.69 | −0.050% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.45 | −0.098% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.71 | −0.046% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.91 | −0.006% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.96 | +0.003% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0120% | 1h | 501.60 | −0.068% | $32K | $8K | 20x | as long as short |
| Lighter MSFT | +0.0176% | 1h | 502.03 | +0.018% | $1.1M | $590K | 20x | as long as short |
| Arcus MSFT-USD | +0.0200% | 1h | 501.91 | −0.006% | $96K | $108K | 10x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 502.34 | +0.079% | $115K | $45K | 30x |
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
Bitget MSFTUSDT
Bybit MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Nado MSFT-PERP
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Lighter MSFT
Arcus MSFT-USD