Funding you earn now, next payment 07:00 UTC+0.0928%/8h= +101.6% APRpaid last 24h −0.074%
Price spread now: edgeX against tradeXYZ+0.062%106s7-day average +0.097% · you sell dearer than you buy
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$400.398% of the position
Funding, last 7 days−0.041%−$4 on $10k
+Price spread, last 4 days (all we have)+0.037%+$4 · spread now +0.062%, 7d avg +0.097%
=Together, before fees−0.004%+ Points / potential airdroptradeXYZ: Active · edgeX: Active · farm board$0 on $10k · with fees, hour by hour
Funding pays, the price is against you. edgeX is 0.035% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.062% now, against its 7-day average of +0.097%). If the spread goes back, that is −$4 on $10k: about 3 hours of funding at the current rate (+$28 a day). The two prices were read 106 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.041% in total (about -2.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 503.60 | 0.0050 | pay 0.0006% / 1h | 41m 38s | $22.4M | $9.0M | 20x |
| Short | edgeX MSFTUSDC | 503.91 | 0.0978 | get 0.0489% / 4h | 1h 41m | $103K | $244K | 10x |
tradeXYZ xyz:MSFT
edgeX MSFTUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX against tradeXYZ. 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
- $194.85
- Price spread: +0.062% → +0.097%
- −$3.52
- Slippage, 4 orders
- −$12.77
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- $151.57
- Costs to cover
- 0.398%
- Break-even
- 1.6 days
Slippage from tradeXYZ: live order book, 7 min ago; edgeX: live order book, 66 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 tradeXYZ live order book, 7 min ago | 0.69 bp | 10.3 bp −$10 | doesn't fit | doesn't fit | doesn't fit |
| Sell edgeX live order book, 66 min ago | 5.17 bp | 9.8 bp −$10 | 12.1 bp −$121 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.0048% | 1h | 503.66 | +0.012% | $682K | $500K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.76 | +0.031% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.97 | +0.073% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.08 | +0.095% | $15.8M | $19.6M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.72 | +0.024% | $7.3M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.92 | +0.064% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.75 | +0.030% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.99 | +0.077% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.96 | +0.071% | $1.3M | $499K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.05 | +0.089% | $18K | $327K | 10x | as long as short |
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 504.74 | +0.226% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.73 | +0.026% | $27K | $43K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.87 | +0.054% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.14 | +0.107% | $2.2M | $820K | 10x | as long as short |
| Nado MSFT-PERP | +0.0011% | 1h | 503.71 | +0.022% | $415K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0027% | 8h | 504.05 | +0.089% | $190K | $206K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.86 | +0.052% | $689K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 503.97 | +0.073% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.73 | +0.026% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.90 | +0.060% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFTlong | +0.0050% | 1h | 503.60 | long leg | $22.4M | $9.0M | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.66 | +0.012% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.79 | +0.038% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.57 | −0.006% | $522K | $476K | 15x | as long as short |
| Hotstuff MSFT-PERP | +0.0056% | 1h | 503.60 | 0.000% | $32K | $8K | 20x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 503.89 | +0.057% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.74 | +0.028% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.47 | −0.026% | $1.6M | $58K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.69 | +0.018% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.91 | +0.062% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.91 | +0.061% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0136% | 1h | 504.07 | +0.093% | $1.2M | $514K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.21 | +0.121% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDCshort | +0.0978% | 4h | 503.91 | +0.062% | $103K | $244K | 10x |
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Hotstuff MSFT-PERP
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP