Funding you earn now, next payment 08:00 UTC−0.0009%/8h= −1.0% APRnext payment −$0.09 per $10,000 · paid last 24h +0.014%
Price spread now: BloFin against Phemex−0.028%59s7-day average −0.027% · you buy dearer than you sell
Net, funding: paid 7d − costs−$77as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$810.812% of the position
Funding, last 7 days+0.040%+$4 on $10k
+Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.028%, 7d avg −0.027%
=The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 59 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 | Phemex MSFTUSDT | 503.84 | 0 | get 0.0000% / 8h | 2h 33m | $2.2M | $797K | 10x |
| Short | BloFin MSFT-USDT | 503.70 | −0.0009 | pay 0.0009% / 8h | 2h 33m | $190K | $206K | 20x |
Phemex MSFTUSDT
BloFin MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Phemex. 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
- −$1.98
- Price spread: −0.028% → −0.027%
- −$0.04
- Slippage, 4 orders
- −$57.21
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$83.22
- Costs to cover
- 0.812%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; BloFin: live order book, 47 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 Phemex live order book, 5 min ago | 0.40 bp | 32.8 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 47 min ago | 0.20 bp | 8.0 bp −$8 | 10.9 bp −$109 | 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 | −0.0225% | 4h | 503.83 | −0.003% | $102K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.26 | −0.115% | $682K | $465K | 10x | as long as short |
| BloFin MSFT-USDTshort | −0.0009% | 8h | 503.70 | −0.028% | $190K | $206K | 20x | |
| Nado MSFT-PERP | −0.0001% | 1h | 503.35 | −0.097% | $412K | $66K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.65 | −0.039% | $162K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.75 | −0.018% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.89 | +0.009% | $15.8M | $19.3M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.67 | −0.034% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.63 | −0.042% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.59 | −0.050% | $3.1M | $1.7M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
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 | 503.71 | −0.026% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.69 | −0.030% | $1.3M | $479K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.67 | −0.033% | $19K | $312K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.24 | +0.079% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.33 | −0.101% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.46 | −0.075% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDTlong | 0.0000% | 8h | 503.84 | long leg | $2.2M | $797K | 10x | |
| Phoenix MSFT | +0.0016% | 1h | 503.57 | −0.054% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.71 | −0.026% | $687K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 503.76 | −0.016% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.37 | −0.093% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.55 | −0.058% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.41 | −0.085% | $22.3M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.12 | −0.143% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.31 | −0.105% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.02 | −0.163% | $517K | $470K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 503.71 | −0.026% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.18 | −0.131% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.30 | −0.107% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.46 | −0.075% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.48 | −0.072% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0112% | 1h | 503.98 | +0.028% | $1.2M | $506K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0112% | 1h | 503.28 | −0.111% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.85 | −0.196% | $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
Phoenix MSFT
Lighter RH MSFT
QFEX MSFT-USD
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
Lighter MSFT
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP