MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0018%/8h= +1.9% APRnext payment +$0.02 per $10,000 · paid last 24h +0.069%

Price spread now: Arcus against QFEX−0.034%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on QFEX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)−0.027%−$3 · spread now −0.034%, 7d avg −0.018%

Together, before fees+0.106%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	504.47	0.0023	pay 0.0003% / 1h	3m 55s	$1.1M	$4.6M	10x
Short	Arcus MSFT-USD	504.30	0.0040	get 0.0005% / 1h	3m 55s	$97K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against QFEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee QFEXbpFee ArcusbpOrdersPrice spread, now −0.034%Rate

Funding earned: $3.7
Price spread: −0.034% → −0.018%: −$1.59
Slippage, 4 orders: −$11.75
Fee QFEX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$24.13
Costs to cover: 0.262%
Break-even: 52.6 days

Slippage from QFEX: live order book, 5 min ago; Arcus: live order book, 29 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 QFEX live order book, 5 min ago	1.09 bp	6.1 bp −$6	6.2 bp −$62	11.5 bp −$1,146	doesn't fit
Sell Arcus live order book, 29 min ago	3.27 bp	8.1 bp −$8	8.5 bp −$85	17.4 bp −$1,745	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	−0.0815%	4h	504.52	+0.011%	$103K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	504.11	−0.071%	$685K	$442K	10x	as long as short
BloFin MSFT-USDT	−0.0024%	8h	504.65	+0.036%	$191K	$205K	20x	as long as short
Nado MSFT-PERP	−0.0006%	1h	504.26	−0.042%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.53	+0.012%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.62	+0.030%	$336K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.79	+0.064%	$16.3M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.50	+0.006%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.94	+0.093%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.56	+0.018%	$3.1M	$1.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	504.88	+0.081%	$3.9M	$2.8M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.53	+0.012%	$1.3M	$394K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	505.36	+0.176%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	504.23	−0.048%	$27K	$45K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.48	+0.002%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.64	+0.034%	$2.2M	$860K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.86	−0.121%	$11K	$15K	20x	as long as short
QFEX MSFT-USDlong	+0.0023%	1h	504.47	long leg	$1.1M	$4.6M	10x
Lighter MSFT	+0.0032%	1h	504.43	−0.008%	$1.2M	$534K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.34	−0.026%	$701K	$1.9M	20x	as long as short
GRVT MSFT_USDT_Perp	+0.0040%	8h	504.54	+0.014%	$18K	$311K	10x	as long as short
Arcus MSFT-USDshort	+0.0040%	1h	504.30	−0.034%	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	504.42	−0.010%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.29	−0.036%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.19	−0.056%	$304K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.33	−0.028%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.92	−0.109%	$536K	$386K	15x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	504.09	−0.075%	$33K	$8K	20x	as long as short
Paradex MSFT-USD-PERP	+0.0062%	8h	504.38	−0.018%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.93	−0.107%	$1.6M	$138K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.92	−0.109%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.52	+0.010%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.52	+0.010%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.07	−0.079%	$115K	$45K	30x	as long as short