Funding you earn now, next payment 22:00 UTC−0.0220%/8h= −24.1% APRnext payment −$0.28 per $10,000 · paid last 24h −0.057%
Price spread now: Extended against Injective−0.073%7-day average +0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$43as 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)−0.088%−$9 · spread now −0.073%, 7d avg +0.040%
=Together, before fees−0.516%+ Points / potential airdropExtended: Active · farm board−$52 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Extended is 0.113% cheaper against Injective than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.040%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MSFT/USDC PERP | 502.03 | 0.0220 | pay 0.0028% / 1h | 28m 55s | $115K | $45K | 30x |
| Short | Extended MSFT_24_5-USD | 501.66 | 0 | get 0.0000% / 1h | 28m 55s | $372K | $369K | 17x |
Injective MSFT/USDC PERP
Extended MSFT_24_5-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- −$46.2
- Price spread: −0.073% → +0.040%
- −$11.33
- Slippage, 4 orders
- −$26.54
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$89.09
- Costs to cover
- 0.316%
- Break-even
- never at this rate
Slippage from Injective: live order book, 59 min ago; Extended: live order book, 58 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, 59 min ago | 10.46 bp | 10.5 bp −$10 | 10.5 bp −$105 | 65076.5 bp −$6.51M | 365381.6 bp −$182.69M |
| Sell Extended live order book, 58 min ago | 0.20 bp | 5.3 bp −$5 | 28.9 bp −$289 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERP | −0.0104% | 1h | 501.36 | −0.133% | $32K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 501.53 | −0.100% | $689K | $433K | 10x | as long as short |
| Nado MSFT-PERP | −0.0029% | 1h | 501.41 | −0.123% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.01 | −0.004% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USDshort | 0.0000% | 1h | 501.66 | −0.073% | $372K | $369K | 17x | |
| Binance MSFTUSDT | 0.0000% | 8h | 501.71 | −0.064% | $15.7M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.87 | −0.032% | $7.4M | $1.7M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.94 | −0.018% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.56 | −0.094% | $3.1M | $1.5M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.74 | −0.058% | $3.8M | $2.2M | 100x | as long as short |
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 501.82 | −0.041% | $1.3M | $726K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.67 | −0.071% | $18K | $330K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.54 | +0.102% | $6K | $4.4M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.71 | −0.064% | $59K | $230K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.24 | +0.042% | $2.2M | $760K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0025% | 8h | 501.81 | −0.044% | $189K | $209K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.67 | −0.072% | $1.1M | $653K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.57 | −0.092% | $662K | $2.2M | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.70 | −0.066% | — | — | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.36 | −0.133% | $22.2M | $10.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.36 | −0.133% | $309K | $683K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.66 | −0.074% | $60K | $3K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 501.63 | −0.079% | $221 | — | 5x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.39 | −0.127% | $515K | $479K | 15x | as long as short |
| QFEX MSFT-USD | +0.0050% | 1h | 501.73 | −0.060% | $1.2M | $5.7M | 10x | as long as short |
| Phoenix MSFT | +0.0096% | 1h | 501.57 | −0.092% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.20 | −0.165% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.29 | −0.147% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.63 | −0.080% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.72 | −0.062% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0129% | 1h | 501.69 | −0.068% | $27K | $104K | 10x | as long as short |
| Injective MSFT/USDC PERPlong | +0.0220% | 1h | 502.03 | long leg | $115K | $45K | 30x | |
| edgeX MSFTUSDC | +0.0333% | 4h | 501.77 | −0.052% | $102K | $244K | 10x | as long as short |
| Arcus MSFT-USD | +0.0531% | 1h | 501.59 | −0.088% | $109K | $90K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Ondo Perps MSFT-USD.P
QFEX MSFT-USD
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
edgeX MSFTUSDC
Arcus MSFT-USD