Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h +0.001%
Price spread now: Deribit against SoDEX+0.020%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+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: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MSFT-USD | 501.88 | 0.0050 | pay 0.0006% / 1h | 54m 31s | $60K | $3K | 10x |
| Short | Deribit MSFT_USDC-PERPETUAL | 501.98 | 0 | get 0.0000% / 1h | 54m 31s | $27K | $45K | 10x |
SoDEX MSFT-USD
Deribit MSFT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against SoDEX. 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
- −$10.5
- Price spread: +0.020% → 0.000%
- $1.99
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$23.51
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Deribit: live order book, 19 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 19 min ago | 0.10 bp | 10.1 bp −$10 | 13.1 bp −$131 | doesn't fit | doesn't fit |
SoDEX: 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 | −0.0981% | 4h | 501.84 | −0.008% | $102K | $242K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0008% | 1h | 501.62 | −0.052% | $32K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0008% | 1h | 501.57 | −0.062% | $680K | $460K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.10 | +0.044% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.96 | +0.016% | $337K | $378K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.06 | +0.035% | $15.7M | $18.8M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.06 | +0.036% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.77 | −0.022% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.96 | +0.016% | $3.8M | $2.2M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.97 | +0.017% | $1.3M | $690K | — | as long as short |
edgeX MSFTUSDC
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.73 | −0.030% | $19K | $296K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.77 | +0.177% | $6K | $4.2M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUALshort | 0.0000% | 1h | 501.98 | +0.020% | $27K | $45K | 10x | |
| HTX MSFT-USDT | 0.0000% | 8h | 501.86 | −0.004% | $58K | $228K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.58 | +0.139% | $2.2M | $753K | 10x | as long as short |
| Nado MSFT-PERP | +0.0004% | 1h | 501.90 | +0.003% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0012% | 8h | 502.00 | +0.024% | $188K | $207K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.87 | −0.002% | $618K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0044% | 1h | 501.92 | +0.008% | $1.1M | $5.9M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.99 | +0.022% | — | $1K | 25x | as long as short |
| Lighter MSFT | +0.0048% | 1h | 502.14 | +0.052% | $1.1M | $486K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.77 | −0.022% | $22.3M | $9.1M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.77 | −0.022% | $303K | $673K | 10x | as long as short |
| SoDEX MSFT-USDlong | +0.0050% | 1h | 501.88 | long leg | $60K | $3K | 10x | |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.52 | −0.072% | $529K | $492K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 502.01 | +0.026% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.72 | −0.032% | $10K | $15K | 20x | as long as short |
| Bybit MSFTUSDT | +0.0091% | 8h | 502.10 | +0.044% | $7.4M | $1.7M | 100x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.65 | −0.046% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.31 | −0.114% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.93 | +0.010% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.83 | −0.010% | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | +0.0212% | 1h | 501.85 | −0.006% | $97K | $110K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.20 | +0.064% | $115K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
Lighter MSFT
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Bybit MSFTUSDT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Arcus MSFT-USD
Injective MSFT/USDC PERP