Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against KuCoin+0.121%7-day average +0.118% · you sell dearer than you buy
Net, funding: paid 7d − costs−$248as in the Funding arb table
Net, price: spread back to 7d avg − costs−$229as in the Price arb table
costs, in and out, $10k−$2292.294% of the position
Funding, last 7 days−0.186%−$19 on $10k
+Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.121%, 7d avg +0.118%
=The price spread sits at its 7-day average of +0.118%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin MSFTUSDTM | 503.10 | 0.0100 | pay 0.0100% / 8h | 59m 45s | $1.6M | $60K | 20x |
| Short | Phemex MSFTUSDT | 503.71 | 0 | get 0.0000% / 8h | 59m 45s | $2.2M | $823K | 10x |
KuCoin MSFTUSDTM
Phemex MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. 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
- −$21
- Price spread: +0.121% → +0.118%
- $0.31
- Slippage, 4 orders
- −$205.4
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$250.1
- Costs to cover
- 2.294%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 6 min ago; Phemex: live order book, 4 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 KuCoin live order book, 6 min ago | 6.46 bp | 106.1 bp −$106 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 2.09 bp | 28.1 bp −$28 | doesn't fit | 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 | −0.0574% | 4h | 503.55 | +0.090% | $102K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0048% | 1h | 503.66 | +0.111% | $682K | $488K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0028% | 8h | 503.62 | +0.103% | $190K | $207K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.0010% | 1h | 503.18 | +0.016% | $22.4M | $8.9M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.49 | +0.077% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.50 | +0.079% | $341K | $1.5M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.59 | +0.097% | $15.8M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.36 | +0.052% | $7.3M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.59 | +0.097% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.37 | +0.054% | $3.1M | $1.8M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
tradeXYZ xyz:MSFT
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 | 503.57 | +0.093% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.65 | +0.109% | $1.3M | $414K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.58 | +0.096% | $19K | $328K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.40 | +0.258% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.39 | +0.058% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.51 | +0.081% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDTshort | 0.0000% | 8h | 503.71 | +0.121% | $2.2M | $823K | 10x | |
| Nado MSFT-PERP | +0.0020% | 1h | 503.41 | +0.061% | $414K | $67K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.40 | +0.060% | $695K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 503.62 | +0.103% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.36 | +0.052% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.69 | +0.117% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.30 | +0.040% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.40 | +0.060% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.25 | +0.030% | $512K | $452K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0056% | 8h | 503.43 | +0.066% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.38 | +0.056% | $11K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0072% | 1h | 503.22 | +0.024% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTMlong | +0.0100% | 8h | 503.10 | long leg | $1.6M | $60K | 20x | |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.26 | +0.032% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.48 | +0.076% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.52 | +0.084% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0136% | 1h | 503.55 | +0.089% | $1.2M | $518K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.98 | +0.175% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Nado MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP