Funding you earn now, next payment 05:00 UTC+0.0045%/8h= +4.9% APRnext payment +$0.06 per $10,000 · paid last 24h −0.001%
Price spread now: QFEX against tradeXYZ+0.048%7-day average +0.076% · 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−$36as in the Price arb table
costs, in and out, $10k−$330.328% of the position
Funding, last 4 days (all we have)−0.030%−$3 on $10k
+Price spread, last 7 days+0.020%+$2 · spread now +0.048%, 7d avg +0.076%
=Together, before fees−0.010%+ Points / potential airdroptradeXYZ: Active · farm board−$1 on $10k · with fees, hour by hour
Funding pays, the price is against you. QFEX is 0.028% cheaper against tradeXYZ than usual: you would sell low and buy high (spread +0.048% now, against its 7-day average of +0.076%). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 502.77 | −0.0010 | get 0.0001% / 1h | 17m 26s | $22.2M | $8.8M | 20x |
| Short | QFEX MSFT-USD | 503.01 | 0.0035 | get 0.0004% / 1h | 17m 26s | $1.1M | $4.9M | 10x |
tradeXYZ xyz:MSFT
QFEX MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- $9.46
- Price spread: +0.048% → +0.076%
- −$2.83
- Slippage, 4 orders
- −$4.81
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$26.18
- Costs to cover
- 0.328%
- Break-even
- 26.4 days
Slippage from tradeXYZ: live order book, 12 min ago; QFEX: live order book, 6 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, 12 min ago | 0.70 bp | 10.3 bp −$10 | 11.7 bp −$117 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 6 min ago | 1.09 bp | 6.1 bp −$6 | 6.6 bp −$66 | 13.7 bp −$1,366 | 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 | −0.0148% | 4h | 503.01 | +0.047% | $102K | $243K | 10x | as long as short |
| Nado MSFT-PERP | −0.0105% | 1h | 503.13 | +0.071% | $415K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 502.82 | +0.010% | $680K | $449K | 10x | as long as short |
| tradeXYZ xyz:MSFTlong | −0.0010% | 1h | 502.77 | long leg | $22.2M | $8.8M | 20x | |
| Deribit MSFT_USDC-PERPETUAL | −0.0008% | 1h | 502.96 | +0.038% | $27K | $42K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.14 | +0.074% | $162K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.04 | +0.053% | $339K | $884K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.20 | +0.086% | $15.8M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 502.91 | +0.028% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.22 | +0.090% | $3.0M | $2.3M | 20x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
Deribit MSFT_USDC-PERPETUAL
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 502.95 | +0.036% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.08 | +0.062% | $4.4M | $2.6M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.01 | +0.047% | $1.3M | $606K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.14 | +0.074% | $19K | $301K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.88 | +0.221% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.93 | +0.032% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.19 | +0.084% | $2.2M | $786K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0003% | 8h | 503.05 | +0.056% | $189K | $205K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.23 | +0.091% | $1.1M | $504K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 502.95 | +0.036% | $679K | $2.0M | 20x | as long as short |
| QFEX MSFT-USDshort | +0.0035% | 1h | 503.01 | +0.048% | $1.1M | $4.9M | 10x | |
| Arcus MSFT-USD | +0.0040% | 1h | 502.77 | 0.000% | $96K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.23 | +0.091% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 502.88 | +0.022% | $11K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 502.80 | +0.006% | $304K | $705K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.91 | +0.028% | $60K | $3K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 503.05 | +0.057% | $221 | — | 5x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 502.58 | −0.038% | $512K | $462K | 15x | as long as short |
| Hotstuff MSFT-PERP | +0.0064% | 1h | 502.74 | −0.006% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.72 | −0.010% | $1.6M | $55K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 502.91 | +0.028% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.15 | +0.076% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.06 | +0.058% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.14 | −0.125% | $115K | $45K | 30x | as long as short |
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Ondo Perps MSFT-USD.P
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP