Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%
Price spread now: Extended against Phemex−0.039%7-day average −0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$760.760% of the position
Funding, last 7 days+0.015%+$1 on $10k
+Price spread, last 4 days (all we have)−0.151%−$15 · spread now −0.039%, 7d avg −0.062%
=Together, before fees−0.136%+ Points / potential airdropExtended: Active · farm board−$14 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.023% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.062%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 504.41 | 0 | get 0.0000% / 8h | 7h 47m | $2.2M | $827K | 10x |
| Short | Extended MSFT_24_5-USD | 504.21 | 0 | get 0.0000% / 1h | 47m 17s | $338K | $1.9M | 17x |
Phemex MSFTUSDT
Extended MSFT_24_5-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $0
- Price spread: −0.039% → −0.062%
- $2.32
- Slippage, 4 orders
- −$58.95
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$73.63
- Costs to cover
- 0.760%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; Extended: live order book, 1 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, 1 min ago | 2.87 bp | 33.5 bp −$33 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 1 min ago | 0.10 bp | 5.2 bp −$5 | 28.1 bp −$281 | 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 | −0.0960% | 4h | 504.46 | +0.010% | $103K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.0084% | 1h | 504.22 | −0.037% | $415K | $67K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 504.06 | −0.069% | $683K | $492K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.54 | +0.027% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USDshort | 0.0000% | 1h | 504.21 | −0.039% | $338K | $1.9M | 17x | |
| Binance MSFTUSDT | 0.0000% | 8h | 504.45 | +0.007% | $15.9M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.18 | −0.046% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.58 | +0.034% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.24 | −0.034% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.34 | −0.014% | $3.9M | $3.0M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.39 | −0.004% | $1.3M | $401K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.57 | +0.032% | $18K | $318K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.21 | +0.159% | $6K | $3.7M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.87 | −0.107% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.26 | −0.030% | $59K | $224K | 20x | as long as short |
| Phemex MSFTUSDTlong | 0.0000% | 8h | 504.41 | long leg | $2.2M | $827K | 10x | |
| Phoenix MSFT | +0.0016% | 1h | 504.20 | −0.042% | $11K | $15K | 20x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 504.41 | 0.000% | $1.1M | $4.6M | 10x | as long as short |
| BloFin MSFT-USDT | +0.0025% | 8h | 504.34 | −0.014% | $191K | $205K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 504.03 | −0.075% | $1.2M | $510K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 504.01 | −0.079% | $697K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 504.17 | −0.048% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.46 | +0.010% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0047% | 1h | 504.08 | −0.065% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 504.23 | −0.036% | $304K | $679K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.06 | −0.069% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 504.00 | −0.081% | $514K | $411K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 504.28 | −0.026% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.98 | −0.085% | $1.6M | $95K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 504.18 | −0.046% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.39 | −0.004% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.27 | −0.028% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0184% | 1h | 504.01 | −0.079% | $33K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 505.94 | +0.303% | $116K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phoenix MSFT
QFEX MSFT-USD
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
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
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP