Funding you earn now, next payment 01:00 UTC+0.0170%/8h= +18.6% APRnext payment +$0.21 per $10,000 · paid last 24h +0.054%
Price spread now: Injective against tradeXYZ+0.088%7-day average +0.049% · you sell dearer than you buy
Net, funding: paid 7d − costs−$3as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$410.406% of the position
Funding, last 7 days+0.379%+$38 on $10k
+Price spread, last 3 days (all we have)+0.021%+$2 · spread now +0.088%, 7d avg +0.049%
=Together, before fees+0.400%+ Points / potential airdroptradeXYZ: Active · farm board+$40 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.039% dearer against tradeXYZ than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.049%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 501.76 | 0.0050 | pay 0.0006% / 1h | 52m 37s | $22.3M | $9.1M | 20x |
| Short | Injective MSFT/USDC PERP | 502.20 | 0.0220 | get 0.0028% / 1h | 52m 37s | $115K | $45K | 30x |
tradeXYZ xyz:MSFT
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $35.7
- Price spread: +0.088% → +0.049%
- $3.88
- Slippage, 4 orders
- −$22.54
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$0.98
- Costs to cover
- 0.406%
- Break-even
- 7.2 days
Slippage from tradeXYZ: live order book, 6 min ago; Injective: live order book, 21 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, 6 min ago | 0.20 bp | 9.2 bp −$9 | 9.4 bp −$94 | doesn't fit | doesn't fit |
| Sell Injective live order book, 21 min ago | 10.76 bp | 10.8 bp −$11 | 10.8 bp −$108 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0981% | 4h | 501.84 | +0.015% | $102K | $242K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0008% | 1h | 501.57 | −0.038% | $680K | $450K | 10x | as long as short |
| Nado MSFT-PERP | −0.0008% | 1h | 501.87 | +0.022% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0005% | 8h | 502.14 | +0.076% | $188K | $207K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.03 | +0.054% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.92 | +0.031% | $337K | $403K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.02 | +0.052% | $15.7M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 502.08 | +0.064% | $7.4M | $1.7M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.07 | +0.062% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.83 | +0.014% | $3.1M | $1.6M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 502.01 | +0.050% | $3.8M | $2.2M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.97 | +0.041% | $1.3M | $690K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.73 | −0.006% | $19K | $296K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.85 | +0.217% | $6K | $4.2M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.75 | −0.002% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.96 | +0.040% | $58K | $228K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.17 | +0.082% | $2.2M | $753K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.92 | +0.032% | $618K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0044% | 1h | 501.94 | +0.036% | $1.1M | $5.9M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.97 | +0.042% | — | $1K | 25x | as long as short |
| Lighter MSFT | +0.0048% | 1h | 502.17 | +0.082% | $1.1M | $486K | 20x | as long as short |
| tradeXYZ xyz:MSFTlong | +0.0050% | 1h | 501.76 | long leg | $22.3M | $9.1M | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.69 | −0.014% | $303K | $673K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.95 | +0.038% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.60 | −0.032% | $529K | $491K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 501.92 | +0.031% | $221 | — | 5x | as long as short |
| Hotstuff MSFT-PERP | +0.0056% | 1h | 501.80 | +0.008% | $32K | $8K | 20x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.83 | +0.014% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.72 | −0.008% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.31 | −0.090% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.92 | +0.032% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.80 | +0.009% | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | +0.0212% | 1h | 501.87 | +0.022% | $97K | $110K | 10x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 502.20 | +0.088% | $115K | $45K | 30x |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
Lighter MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Hotstuff MSFT-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Arcus MSFT-USD