Funding you earn now, next payment 08:00 UTC+0.0030%/8h= +3.3% APRnext payment +$0.04 per $10,000 · paid last 24h −0.002%
Price spread now: Vest against Phoenix+0.006%58s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=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 58 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 | 504.20 | 0.0016 | pay 0.0002% / 1h | 46m 09s | $11K | $15K | 20x |
| Short | Vest MSFT-USD-PERP | 504.23 | 0.0046 | get 0.0006% / 1h | 46m 09s | — | $1K | 25x |
Phoenix MSFT
Vest MSFT-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Vest 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
- $6.26
- Price spread: +0.006% → 0.000%
- $0.6
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$2.15
- Costs to cover
- 0.090%
- Break-even
- 9.4 days
Slippage unknown: Phoenix: no order-book sample; Vest: no order-book sample. 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 Vest no order-book sample | — | — | — | — | — |
Phoenix and Vest: 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 | −0.0960% | 4h | 504.46 | +0.051% | $103K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.0082% | 1h | 503.90 | −0.060% | $415K | $67K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 504.06 | −0.028% | $683K | $493K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.40 | +0.040% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.15 | −0.010% | $338K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.29 | +0.018% | $15.9M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.99 | −0.042% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.29 | +0.018% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.05 | −0.030% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.27 | +0.014% | $3.9M | $3.0M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
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 | +0.038% | $1.3M | $401K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.57 | +0.073% | $18K | $318K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.06 | +0.171% | $6K | $3.7M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 504.04 | −0.032% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.19 | −0.002% | $59K | $224K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.48 | +0.056% | $2.2M | $827K | 10x | as long as short |
| Phoenix MSFTlong | +0.0016% | 1h | 504.20 | long leg | $11K | $15K | 20x | |
| QFEX MSFT-USD | +0.0023% | 1h | 504.08 | −0.024% | $1.1M | $4.6M | 10x | as long as short |
| BloFin MSFT-USDT | +0.0025% | 8h | 504.34 | +0.028% | $191K | $205K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 504.12 | −0.016% | $1.2M | $510K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 504.09 | −0.022% | $697K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.94 | −0.052% | $97K | $110K | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0045% | 1h | 503.82 | −0.075% | $22.4M | $9.0M | 20x | as long as short |
| Vest MSFT-USD-PERPshort | +0.0046% | 1h | 504.23 | +0.006% | — | $1K | 25x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.94 | −0.052% | $303K | $679K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.06 | −0.028% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 504.00 | −0.040% | $514K | $411K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.97 | −0.045% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.88 | −0.063% | $1.6M | $98K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 504.18 | −0.004% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.19 | −0.002% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.13 | −0.014% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0184% | 1h | 504.01 | −0.038% | $33K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 505.94 | +0.345% | $116K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
Arcus MSFT-USD
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