Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%
Price spread now: KuCoin against Phemex−0.123%7-day average −0.118% · you buy dearer than you sell
Net, funding: paid 7d − costs−$206as in the Funding arb table
Net, price: spread back to 7d avg − costs−$225as in the Price arb table
costs, in and out, $10k−$2242.243% of the position
Funding, last 7 days+0.186%+$19 on $10k
+Price spread, last 4 days (all we have)+0.003%$0 · spread now −0.123%, 7d avg −0.118%
=The price spread sits at its 7-day average of −0.118%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 504.00 | 0 | get 0.0000% / 8h | 1h 48m | $2.2M | $818K | 10x |
| Short | KuCoin MSFTUSDTM | 503.38 | 0.0100 | get 0.0100% / 8h | 1h 48m | $1.6M | $58K | 20x |
Phemex MSFTUSDT
KuCoin MSFTUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- $21
- Price spread: −0.123% → −0.118%
- −$0.47
- Slippage, 4 orders
- −$200.31
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$203.77
- Costs to cover
- 2.243%
- Break-even
- 74.9 days
Slippage from Phemex: live order book, 5 min ago; KuCoin: live order book, 7 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 | 1.78 bp | 31.9 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 7 min ago | 6.65 bp | 99.7 bp −$100 | doesn't fit | 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 | −0.0112% | 4h | 504.28 | +0.056% | $103K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0048% | 1h | 503.66 | −0.067% | $682K | $500K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.72 | −0.056% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.86 | −0.029% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.99 | −0.002% | $15.8M | $19.6M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.76 | −0.048% | $7.3M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.98 | −0.004% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.81 | −0.038% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.08 | +0.016% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.13 | +0.026% | $1.3M | $499K | — | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.20 | +0.040% | $19K | $327K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.77 | +0.153% | $6K | $3.9M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.87 | −0.026% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDTlong | 0.0000% | 8h | 504.00 | long leg | $2.2M | $818K | 10x | |
| BloFin MSFT-USDT | +0.0005% | 8h | 504.01 | +0.002% | $190K | $207K | 20x | as long as short |
| Nado MSFT-PERP | +0.0008% | 1h | 504.09 | +0.017% | $415K | $67K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0028% | 1h | 503.76 | −0.048% | $27K | $43K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.79 | −0.042% | $689K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 504.04 | +0.008% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.81 | −0.038% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.92 | −0.016% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.55 | −0.089% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.66 | −0.067% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.87 | −0.026% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.67 | −0.065% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0059% | 8h | 503.83 | −0.033% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.94 | −0.012% | $11K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0072% | 1h | 503.64 | −0.071% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTMshort | +0.0100% | 8h | 503.38 | −0.123% | $1.6M | $58K | 20x | |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 504.00 | 0.000% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.85 | −0.030% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.94 | −0.012% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0120% | 1h | 504.02 | +0.004% | $1.2M | $514K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.13 | +0.026% | $115K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
BloFin MSFT-USDT
Nado MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
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
Phoenix MSFT
Hotstuff MSFT-PERP
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP