Funding you earn now, next payment 03:00 UTC+0.0172%/8h= +18.8% APRnext payment +$0.22 per $10,000 · paid last 24h +0.051%
Price spread now: Injective against Phoenix+0.323%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.378%+$38 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.323% dearer against Phoenix than usual: you sell high and buy low: +$32 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 501.08 | 0.0048 | pay 0.0006% / 1h | 57m 57s | $10K | $15K | 20x |
| Short | Injective MSFT/USDC PERP | 502.70 | 0.0220 | get 0.0028% / 1h | 57m 57s | $115K | $45K | 30x |
Phoenix MSFT
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $36.14
- Price spread: +0.323% → 0.000%
- $32.33
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $61.45
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Injective: live order book, 61 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 Injective live order book, 61 min ago | 10.08 bp | 10.1 bp −$10 | 10.1 bp −$101 | 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 | −0.0907% | 4h | 501.26 | +0.037% | $102K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.0119% | 1h | 501.20 | +0.024% | $414K | $64K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.0050% | 1h | 500.88 | −0.040% | $22.0M | $8.7M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.0049% | 1h | 500.96 | −0.024% | $27K | $42K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.022% | $677K | $450K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.22 | +0.028% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.22 | +0.028% | $337K | $887K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.36 | +0.056% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.06 | −0.004% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.52 | +0.088% | $3.0M | $2.3M | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
tradeXYZ xyz:MSFT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
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 | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 501.17 | +0.018% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.29 | +0.042% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.27 | +0.037% | $1.3M | $609K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.29 | +0.043% | $19K | $301K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.12 | +0.208% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.16 | +0.016% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.46 | +0.076% | $2.2M | $769K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0010% | 8h | 501.36 | +0.056% | $189K | $204K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.90 | −0.036% | $32K | $8K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.08 | 0.000% | $677K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 501.24 | +0.032% | $1.1M | $4.9M | 10x | as long as short |
| Lighter MSFT | +0.0040% | 1h | 501.37 | +0.058% | $1.1M | $498K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.04 | −0.008% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.37 | +0.058% | — | $1K | 25x | as long as short |
| Phoenix MSFTlong | +0.0048% | 1h | 501.08 | long leg | $10K | $15K | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.98 | −0.020% | $302K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.15 | +0.014% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.85 | −0.046% | $527K | $443K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.26 | +0.035% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.97 | −0.022% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.08 | 0.000% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.20 | +0.024% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.22 | +0.028% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 502.70 | +0.323% | $115K | $45K | 30x |
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Hotstuff MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Lighter MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
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