Funding you earn now, next payment 03:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.015%
Price spread now: Gate against Phoenix+0.012%47s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.037%−$4 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 47 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 | Phoenix MSFT | 501.11 | 0.0048 | pay 0.0006% / 1h | 0m 37s | $10K | $15K | 20x |
| Short | Gate MSFT_USDT | 501.17 | 0 | get 0.0000% / 8h | 4h 00m | $3.1M | $1.7M | 100x |
Phoenix MSFT
Gate MSFT_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Phoenix. 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
- −$10.06
- Price spread: +0.012% → 0.000%
- $1.2
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$30.86
- Costs to cover
- 0.220%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 2 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Gate live order book, 2 min ago | 3.49 bp | 11.6 bp −$12 | 60.2 bp −$602 | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0370% | 4h | 501.29 | +0.035% | $102K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 500.97 | −0.028% | $677K | $451K | 10x | as long as short |
| Nado MSFT-PERP | −0.0028% | 1h | 501.18 | +0.014% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0006% | 8h | 501.36 | +0.050% | $189K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.22 | +0.021% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.17 | +0.012% | $337K | $890K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.31 | +0.040% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 500.99 | −0.024% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.27 | +0.032% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDTshort | 0.0000% | 8h | 501.17 | +0.012% | $3.1M | $1.7M | 100x |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.29 | +0.036% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.27 | +0.031% | $1.3M | $609K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.29 | +0.037% | $19K | $301K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.10 | +0.198% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 500.99 | −0.024% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.25 | +0.028% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.37 | +0.052% | $2.2M | $769K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.05 | −0.012% | $677K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 501.24 | +0.026% | $1.1M | $4.9M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.05 | −0.012% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.32 | +0.042% | — | $1K | 25x | as long as short |
| Phoenix MSFTlong | +0.0048% | 1h | 501.11 | long leg | $10K | $15K | 20x | |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.83 | −0.056% | $22.0M | $8.7M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.95 | −0.032% | $302K | $722K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.19 | +0.016% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.94 | −0.034% | $527K | $443K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.20 | +0.018% | $221 | — | 5x | as long as short |
| Lighter MSFT | +0.0080% | 1h | 501.30 | +0.038% | $1.1M | $499K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.93 | −0.036% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.08 | −0.006% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.21 | +0.020% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.20 | +0.018% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0144% | 1h | 500.89 | −0.044% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.70 | +0.317% | $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
Phemex MSFTUSDT
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
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP