Funding you earn now, next payment 05:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h +0.066%
Price spread now: Arcus against Ondo Perps+0.020%7-day average +0.060% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.086%+$9 on $10k
+Price spread, last 4 days (all we have)+0.047%+$5 · spread now +0.020%, 7d avg +0.060%
=Together, before fees+0.133%+ Points / potential airdropOndo Perps: Active · farm board+$13 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Arcus is 0.040% cheaper against Ondo Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.060%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.086%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSFT-USD.P | 500.94 | 0.0050 | pay 0.0006% / 1h | 53m 36s | $518K | $452K | 15x |
| Short | Arcus MSFT-USD | 501.04 | 0.0040 | get 0.0005% / 1h | 53m 36s | $96K | $111K | 10x |
Ondo Perps MSFT-USD.P
Arcus MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Ondo Perps. 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
- −$2.13
- Price spread: +0.020% → +0.060%
- −$3.96
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$15.58
- Costs to cover
- 0.095%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Arcus: live order book, 64 min ago. 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 64 min ago | 3.29 bp | 11.0 bp −$11 | 13.2 bp −$132 | doesn't fit | doesn't fit |
Ondo Perps: 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 | −0.0270% | 4h | 501.26 | +0.063% | $102K | $243K | 10x | as long as short |
| Nado MSFT-PERP | −0.0126% | 1h | 501.24 | +0.060% | $414K | $64K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.0042% | 1h | 500.93 | −0.002% | $22.1M | $8.7M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | +0.006% | $677K | $450K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0004% | 8h | 501.34 | +0.080% | $189K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.24 | +0.059% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.23 | +0.058% | $337K | $883K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.36 | +0.083% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.08 | +0.028% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.32 | +0.076% | $3.0M | $2.3M | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
tradeXYZ xyz:MSFT
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
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 | +0.056% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.25 | +0.062% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.25 | +0.061% | $1.3M | $607K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.30 | +0.071% | $19K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.14 | +0.240% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.03 | +0.018% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.26 | +0.064% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.46 | +0.104% | $2.2M | $770K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.93 | −0.002% | $32K | $8K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.39 | +0.090% | $1.1M | $498K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.14 | +0.040% | $678K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 501.24 | +0.060% | $1.1M | $4.9M | 10x | as long as short |
| Arcus MSFT-USDshort | +0.0040% | 1h | 501.04 | +0.020% | $96K | $111K | 10x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.34 | +0.080% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 500.98 | +0.008% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.98 | +0.008% | $302K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | +0.060% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.Plong | +0.0050% | 1h | 500.94 | long leg | $518K | $452K | 15x | |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 501.29 | +0.071% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.80 | −0.028% | $1.6M | $48K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.20 | +0.052% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.19 | +0.050% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.23 | +0.059% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.70 | +0.351% | $115K | $45K | 30x | as long as short |
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
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP