MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0002%/8h= −0.3% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phoenix against Ondo Perps+0.060%48s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.060% dearer against Ondo Perps than usual: you sell high and buy low, +$6 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps MSFT-USD.P	502.83	0.0050	pay 0.0006% / 1h	54m 40s	$513K	$463K	15x
Short	Phoenix MSFT	503.13	0.0048	get 0.0006% / 1h	54m 40s	$11K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Ondo PerpsbpFee PhoenixbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$0.52
Price spread: +0.060% → 0.000%: $5.97
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$6.56
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

Ondo Perps and 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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.29	+0.091%	$685K	$461K	10x	as long as short
Nado MSFT-PERP	−0.0055%	1h	502.91	+0.016%	$412K	$66K	20x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	503.14	+0.062%	$190K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.96	+0.025%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.08	+0.049%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.20	+0.074%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.95	+0.024%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.35	+0.103%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.01	+0.036%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.14	+0.062%	$4.4M	$2.6M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.19	+0.071%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.45	+0.124%	$19K	$307K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.94	+0.221%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.85	+0.004%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.05	+0.044%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.75	+0.183%	$2.2M	$791K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	502.85	+0.004%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.22	+0.078%	$1.2M	$495K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.95	+0.024%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.15	+0.064%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.22	+0.078%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.22	+0.078%	—	$1K	25x	as long as short
Phoenix MSFTshort	+0.0048%	1h	503.13	+0.060%	$11K	$15K	20x
tradeXYZ xyz:MSFT	+0.0050%	1h	502.79	−0.008%	$22.2M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.82	−0.002%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.97	+0.028%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Plong	+0.0050%	1h	502.83	long leg	$513K	$463K	15x
Paradex MSFT-USD-PERP	+0.0052%	8h	503.04	+0.041%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.88	+0.010%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.22	+0.078%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.97	+0.028%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.03	+0.040%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0118%	4h	503.66	+0.165%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.082%	$115K	$45K	30x	as long as short