Funding you earn now, next payment 04:00 UTC−0.0082%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.022%
Price spread now: Coinbase International against Ondo Perps+0.006%7-day average −0.022% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.143%−$14 on $10k
+Price spread, last 4 days (all we have)+0.063%+$6 · spread now +0.006%, 7d avg −0.022%
=Together, before fees−0.080%+ Points / potential airdropOndo Perps: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.028% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.022%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 27 hours.
| 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 | 52m 41s | $518K | $452K | 15x |
| Short | Coinbase International MSFT-PERP-INTX | 500.97 | −0.0032 | pay 0.0004% / 1h | 52m 41s | $677K | $450K | 10x |
Ondo Perps MSFT-USD.P
Coinbase International MSFT-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$17.3
- Price spread: +0.006% → −0.022%
- $2.79
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$29.51
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Coinbase International: live order book, 1 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 Coinbase International live order book, 1 min ago | 1.70 bp | 6.8 bp −$7 | 9.5 bp −$95 | 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 | −0.0036% | 1h | 500.90 | −0.008% | $22.1M | $8.7M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTXshort | −0.0032% | 1h | 500.97 | +0.006% | $677K | $450K | 10x | |
| Aster MSFTUSDT | 0.0000% | 8h | 501.22 | +0.055% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.20 | +0.052% | $337K | $883K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.33 | +0.078% | $15.7M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.11 | +0.034% | $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 |
| Hotstuff MSFT-PERP | 0.0000% | 1h | 500.92 | −0.004% | $32K | $8K | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
tradeXYZ xyz:MSFT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Hotstuff MSFT-PERPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 501.20 | +0.052% | $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 | 502.13 | +0.238% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.04 | +0.020% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.19 | +0.050% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.43 | +0.098% | $2.2M | $770K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0022% | 8h | 501.32 | +0.076% | $189K | $204K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.33 | +0.078% | $1.1M | $498K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.08 | +0.028% | $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-USD | +0.0040% | 1h | 501.04 | +0.020% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.35 | +0.082% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.06 | +0.024% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.97 | +0.006% | $302K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.20 | +0.052% | $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 | 501.25 | +0.062% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.73 | −0.042% | $1.6M | $49K | 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 | 501.25 | +0.063% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.54 | +0.120% | $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
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
QFEX MSFT-USD
Arcus 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