Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.009%
Price spread now: Extended against SoDEX0.000%7-day average — · you buy dearer than you sell
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
=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 | 502.29 | 0.0050 | pay 0.0006% / 1h | 27m 16s | $60K | $3K | 10x |
| Short | Extended MSFT_24_5-USD | 502.29 | 0 | get 0.0000% / 1h | 27m 16s | $337K | $881K | 17x |
SoDEX MSFT-USD
Extended MSFT_24_5-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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: 0.000% → 0.000%
- −$0.05
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$23.55
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Extended: live order book, 26 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 Extended live order book, 26 min ago | 0.80 bp | 5.9 bp −$6 | 33.8 bp −$338 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0101% | 1h | 502.44 | +0.029% | $415K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.263% | $677K | $447K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.0007% | 1h | 502.00 | −0.058% | $22.2M | $8.8M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.32 | +0.006% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USDshort | 0.0000% | 1h | 502.29 | 0.000% | $337K | $881K | 17x | |
| Binance MSFTUSDT | 0.0000% | 8h | 502.43 | +0.027% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 502.35 | +0.012% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.61 | +0.064% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.19 | −0.020% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 502.14 | −0.030% | $4.4M | $2.5M | 100x | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
tradeXYZ xyz:MSFT
Aster MSFTUSDT
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 | 502.04 | −0.050% | $1.3M | $607K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.17 | −0.023% | $19K | $297K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.19 | +0.179% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 502.13 | −0.032% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.30 | +0.002% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.69 | +0.080% | $2.2M | $777K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0016% | 8h | 502.43 | +0.028% | $189K | $204K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 502.48 | +0.038% | $1.1M | $503K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 502.25 | −0.008% | $679K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 502.30 | +0.002% | $1.1M | $4.9M | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 502.11 | −0.036% | $32K | $8K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.88 | −0.082% | $96K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 502.44 | +0.030% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.61 | −0.135% | $10K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 502.06 | −0.046% | $303K | $701K | 10x | as long as short |
| SoDEX MSFT-USDlong | +0.0050% | 1h | 502.29 | long leg | $60K | $3K | 10x | |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 502.45 | +0.032% | $221 | — | 5x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 502.05 | −0.048% | $519K | $453K | 15x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.89 | −0.080% | $1.6M | $52K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.65 | −0.127% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 502.33 | +0.008% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 502.33 | +0.008% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.14 | −0.030% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0905% | 4h | 501.92 | −0.074% | $102K | $244K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
QFEX MSFT-USD
Hotstuff MSFT-PERP
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
Paradex MSFT-USD-PERP
Ondo Perps MSFT-USD.P
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC