MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0185%/8h= +20.3% APRnext payment +$0.23 per $10,000 · paid last 24h +0.053%

Price spread now: Injective against QFEX+0.044%7-day average −0.030% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on QFEX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.216%+$22 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now +0.044%, 7d avg −0.030%

Together, before fees+0.211%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Injective is 0.073% dearer against QFEX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	503.62	0.0035	pay 0.0004% / 1h	2m 10s	$1.2M	$4.8M	10x
Short	Injective MSFT/USDC PERP	503.84	0.0220	get 0.0028% / 1h	2m 10s	$115K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.044%Rate

Funding earned: $38.89
Price spread: +0.044% → −0.030%: $7.33
Slippage, 4 orders: −$24.33
Fee QFEX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $11.88
Costs to cover: 0.343%
Break-even: 4.9 days

Slippage from QFEX: live order book, 7 min ago; Injective: live order book, 51 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, 7 min ago	2.18 bp	7.2 bp −$7	7.6 bp −$76	14.6 bp −$1,464	doesn't fit
Sell Injective live order book, 51 min ago	9.98 bp	10.0 bp −$10	10.0 bp −$100	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
Nado MSFT-PERP	−0.0096%	1h	503.43	−0.038%	$414K	$65K	20x	as long as short
Hotstuff MSFT-PERP	−0.0056%	1h	503.25	−0.073%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	503.33	−0.058%	$685K	$460K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.54	−0.016%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.70	+0.016%	$337K	$1.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.84	+0.044%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.49	−0.026%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.72	+0.020%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.52	−0.020%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.61	−0.002%	$4.4M	$2.6M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.40	−0.044%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.55	−0.013%	$18K	$303K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.63	+0.201%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.69	+0.014%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.99	+0.073%	$2.2M	$786K	10x	as long as short
BloFin MSFT-USDT	+0.0013%	8h	503.82	+0.040%	$190K	$205K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0019%	1h	503.31	−0.062%	$22.3M	$8.8M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.68	+0.012%	$1.2M	$514K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.48	−0.028%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USDlong	+0.0035%	1h	503.62	long leg	$1.2M	$4.8M	10x
Arcus MSFT-USD	+0.0040%	1h	503.36	−0.052%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.59	−0.006%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.27	−0.069%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.39	−0.046%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.58	−0.008%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.08	−0.107%	$512K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.65	+0.007%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.13	−0.097%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.52	−0.020%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.55	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.60	−0.004%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0187%	1h	503.58	−0.008%	$27K	$42K	10x	as long as short
Injective MSFT/USDC PERPshort	+0.0220%	1h	503.84	+0.044%	$115K	$45K	30x
edgeX MSFTUSDC	+0.0954%	4h	503.42	−0.039%	$102K	$243K	10x	as long as short