Funding you earn now, next payment 08:00 UTC−0.0204%/8h= −22.3% APRnext payment −$0.26 per $10,000 · paid last 24h −0.050%
Price spread now: Phoenix against Injective−0.350%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−0.376%−$38 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phoenix is 0.350% cheaper against Injective than usual: you would sell low and buy high (−$35 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective MSFT/USDC PERP | 505.30 | 0.0220 | pay 0.0028% / 1h | 18m 16s | $116K | $45K | 30x |
| Short | Phoenix MSFT | 503.53 | 0.0016 | get 0.0002% / 1h | 18m 16s | $11K | $15K | 20x |
Injective MSFT/USDC PERP
Phoenix MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$42.86
- Price spread: −0.350% → 0.000%
- −$35.03
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$84.91
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Injective: live order book, 15 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 Injective live order book, 15 min ago | 30.23 bp | 30.2 bp −$30 | 21047.1 bp −$210.5K | 300462.6 bp −$30.05M | 1542299.4 bp −$771.15M |
| 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0638% | 4h | 503.89 | −0.279% | $103K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 503.64 | −0.329% | $685K | $452K | 10x | as long as short |
| Nado MSFT-PERP | −0.0009% | 1h | 503.81 | −0.295% | $415K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0002% | 8h | 504.16 | −0.226% | $192K | $203K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.23 | −0.211% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.01 | −0.256% | $335K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.13 | −0.232% | $16.3M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.82 | −0.293% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.07 | −0.243% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.86 | −0.285% | $3.1M | $1.9M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 504.09 | −0.239% | $3.9M | $2.8M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.92 | −0.273% | $1.3M | $387K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.94 | −0.268% | $19K | $316K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.96 | −0.067% | $6K | $3.5M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.80 | −0.297% | $27K | $45K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.03 | −0.251% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.35 | −0.188% | $2.2M | $847K | 10x | as long as short |
| Phoenix MSFTshort | +0.0016% | 1h | 503.53 | −0.350% | $11K | $15K | 20x | |
| QFEX MSFT-USD | +0.0023% | 1h | 503.94 | −0.269% | $1.1M | $4.6M | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.90 | −0.277% | $1.2M | $523K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.93 | −0.271% | $704K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.88 | −0.281% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.07 | −0.243% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.56 | −0.344% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.81 | −0.295% | $303K | $650K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.90 | −0.277% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.66 | −0.325% | $534K | $392K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 503.94 | −0.270% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.58 | −0.340% | $1.6M | $123K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.33 | −0.390% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.05 | −0.247% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.07 | −0.244% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0216% | 1h | 503.65 | −0.327% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERPlong | +0.0220% | 1h | 505.30 | long leg | $116K | $45K | 30x |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
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
Hotstuff MSFT-PERP