MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0252%/8h= −27.6% APRnext payment −$0.32 per $10,000 · paid last 24h −0.073%

Price spread now: Coinbase International against Injective−0.344%56s7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.370% of the position

Long on Injective Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.470%−$47 on $10k

Price spread, last 4 days (all we have)+0.201%+$20 · spread now −0.344%, 7d avg −0.066%

Together, before fees−0.270%−$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Coinbase International is 0.278% cheaper against Injective than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.066%). Swap the legs. The two prices were read 56 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	Injective MSFT/USDC PERP	502.70	0.0220	pay 0.0028% / 1h	55m 19s	$115K	$45K	30x
Short	Coinbase International MSFT-PERP-INTX	500.97	−0.0032	pay 0.0004% / 1h	55m 19s	$677K	$450K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee Coinbase InternationalbpOrdersPrice spread, now −0.344%Rate

Funding earned: −$52.92
Price spread: −0.344% → −0.066%: −$27.83
Slippage, 4 orders: −$26.95
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$117.72
Costs to cover: 0.370%
Break-even: never at this rate

Slippage from Injective: live order book, 63 min ago; Coinbase International: live order book, 63 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, 63 min ago	10.08 bp	10.1 bp −$10	10.1 bp −$101	65071.6 bp −$6.51M	365357.3 bp −$182.68M
Sell Coinbase International live order book, 63 min ago	2.70 bp	8.5 bp −$8	11.3 bp −$113	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
Deribit MSFT_USDC-PERPETUAL	−0.0169%	1h	500.95	−0.348%	$27K	$42K	10x	as long as short
Nado MSFT-PERP	−0.0128%	1h	501.25	−0.289%	$414K	$64K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0046%	1h	500.90	−0.358%	$22.1M	$8.7M	20x	as long as short
Coinbase International MSFT-PERP-INTXshort	−0.0032%	1h	500.97	−0.344%	$677K	$450K	10x
Aster MSFTUSDT	0.0000%	8h	501.24	−0.289%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.21	−0.296%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.33	−0.273%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.05	−0.328%	$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
Gate MSFT_USDT	0.0000%	8h	501.20	−0.298%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
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	502.11	−0.117%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.22	−0.294%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.46	−0.247%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	501.28	−0.282%	$189K	$203K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.11	−0.316%	$677K	$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
Lighter MSFT	+0.0040%	1h	501.35	−0.269%	$1.1M	$498K	20x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	500.89	−0.360%	$32K	$8K	20x	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	501.37	−0.265%	—	$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	500.97	−0.344%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	−0.296%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.85	−0.368%	$518K	$451K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	501.27	−0.284%	$221	—	5x	as long as short
edgeX MSFTUSDC	+0.0062%	4h	501.28	−0.283%	$102K	$242K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.83	−0.372%	$1.5M	$48K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.00	−0.338%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.20	−0.298%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.23	−0.292%	$55	—	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	502.70	long leg	$115K	$45K	30x