Funding you earn now, next payment 05:00 UTC−0.0224%/8h= −24.5% APRpaid last 24h −0.052%
Price spread now: BloFin against Injective−0.271%7-day average +0.065% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$360.365% of the position
Funding, last 7 days−0.403%−$40 on $10k
+Price spread, last 4 days (all we have)+0.210%+$21 · spread now −0.271%, 7d avg +0.065%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BloFin is 0.335% cheaper against Injective than usual: you would sell low and buy high (−$34 if the spread goes back to its 7-day average of +0.065%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MSFT/USDC PERP | 502.70 | 0.0220 | pay 0.0028% / 1h | 53m 31s | $115K | $45K | 30x |
| Short | BloFin MSFT-USDT | 501.34 | −0.0004 | pay 0.0004% / 8h | 3h 53m | $189K | $204K | 20x |
Injective MSFT/USDC PERP
BloFin MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Injective. 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
- −$46.99
- Price spread: −0.271% → +0.065%
- −$33.52
- Slippage, 4 orders
- −$24.46
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$116.98
- Costs to cover
- 0.365%
- Break-even
- never at this rate
Slippage from Injective: live order book, 65 min ago; BloFin: live order book, 37 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 Injective live order book, 65 min ago | 10.08 bp | 10.1 bp −$10 | 10.1 bp −$101 | 65071.6 bp −$6.51M | 365357.3 bp −$182.68M |
| Sell BloFin live order book, 37 min ago | 0.20 bp | 9.0 bp −$9 | 10.8 bp −$108 | 25.5 bp −$2,550 | 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 | −0.0270% | 4h | 501.26 | −0.287% | $102K | $243K | 10x | as long as short |
| Nado MSFT-PERP | −0.0126% | 1h | 501.24 | −0.290% | $414K | $64K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.0042% | 1h | 500.93 | −0.352% | $22.1M | $8.7M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.344% | $677K | $450K | 10x | as long as short |
| BloFin MSFT-USDTshort | −0.0004% | 8h | 501.34 | −0.271% | $189K | $204K | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 501.24 | −0.291% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.23 | −0.292% | $337K | $883K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.36 | −0.267% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.08 | −0.322% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.32 | −0.275% | $3.0M | $2.3M | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
tradeXYZ xyz:MSFT
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 501.22 | −0.294% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.25 | −0.288% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.25 | −0.289% | $1.3M | $607K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.30 | −0.279% | $19K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.14 | −0.111% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.03 | −0.332% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.26 | −0.286% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.46 | −0.247% | $2.2M | $770K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.93 | −0.352% | $32K | $8K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.39 | −0.261% | $1.1M | $498K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.14 | −0.310% | $678K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 501.24 | −0.290% | $1.1M | $4.9M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.04 | −0.330% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.34 | −0.271% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 500.98 | −0.342% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.98 | −0.342% | $302K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | −0.290% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.94 | −0.350% | $518K | $452K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 501.29 | −0.280% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.80 | −0.378% | $1.6M | $48K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.20 | −0.298% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.19 | −0.300% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.23 | −0.291% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERPlong | +0.0220% | 1h | 502.70 | long leg | $115K | $45K | 30x |
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
Lighter MSFT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix 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