Funding you earn now, next payment 11:00 UTC+0.0010%/8h= +1.1% APRnext payment +$0.01 per $10,000 · paid last 24h +0.002%
Price spread now: SoDEX against tradeXYZ+0.024%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and SoDEX is 0.024% dearer against tradeXYZ than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 503.84 | 0.0040 | pay 0.0005% / 1h | 27m 10s | $22.4M | $9.3M | 20x |
| Short | SoDEX MSFT-USD | 503.96 | 0.0050 | get 0.0006% / 1h | 27m 10s | $61K | $3K | 10x |
tradeXYZ xyz:MSFT
SoDEX MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
SoDEX 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
- $2.12
- Price spread: +0.024% → 0.000%
- $2.38
- Slippage, 4 orders
- no order book: not counted
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$21.5
- Costs to cover
- 0.260%
- Break-even
- 78.1 days
Slippage unknown: tradeXYZ: live order book, 4 min ago; SoDEX: no order-book sample. 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 tradeXYZ live order book, 4 min ago | 0.40 bp | 9.6 bp −$10 | 11.2 bp −$112 | doesn't fit | doesn't fit |
| Sell SoDEX no order-book sample | — | — | — | — | — |
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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERP | −0.1600% | 1h | 503.64 | −0.040% | $32K | $8K | 20x | as long as short |
| Nado MSFT-PERP | −0.0061% | 1h | 504.14 | +0.060% | $411K | $72K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0006% | 8h | 503.98 | +0.028% | $202K | $219K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.12 | +0.055% | $166K | $118K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.05 | +0.041% | $324K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.25 | +0.081% | $16.3M | $21.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.00 | +0.032% | $7.3M | $2.4M | 100x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.03 | +0.038% | $3.1M | $2.0M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.34 | +0.099% | $4.0M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.95 | +0.021% | $1.3M | $373K | — | as long as short |
Hotstuff MSFT-PERP
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.98 | +0.028% | $18K | $320K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.05 | +0.240% | $6K | $3.5M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 504.09 | +0.050% | $30K | $47K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 503.81 | −0.006% | $703K | $581K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.15 | +0.062% | $49K | $247K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.33 | +0.097% | $2.3M | $921K | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 504.13 | +0.058% | $1.2M | $508K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 504.17 | +0.065% | $690K | $1.8M | 20x | as long as short |
| tradeXYZ xyz:MSFTlong | +0.0040% | 1h | 503.84 | long leg | $22.4M | $9.3M | 20x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.18 | +0.067% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.75 | −0.018% | $318K | $675K | 10x | as long as short |
| SoDEX MSFT-USDshort | +0.0050% | 1h | 503.96 | +0.024% | $61K | $3K | 10x | |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.69 | −0.030% | $530K | $403K | 15x | as long as short |
| OKX MSFT-USDT-SWAP | +0.0050% | 8h | 504.29 | +0.089% | $3.2M | $2.8M | 20x | as long as short |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 503.62 | −0.044% | $222 | — | 5x | as long as short |
| QFEX MSFT-USD | +0.0058% | 1h | 503.71 | −0.026% | $1.1M | $4.7M | 10x | as long as short |
| Phoenix MSFT | +0.0079% | 1h | 503.70 | −0.028% | $11K | $5K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.49 | −0.069% | $1.6M | $247K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.46 | −0.075% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.08 | +0.048% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.97 | +0.026% | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | +0.0190% | 1h | 503.73 | −0.022% | $93K | $83K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.03 | +0.038% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0946% | 4h | 503.87 | +0.006% | $102K | $242K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter MSFT
Lighter RH MSFT
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
Ondo Perps MSFT-USD.P
OKX MSFT-USDT-SWAP
Paradex MSFT-USD-PERP
QFEX MSFT-USD
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Arcus MSFT-USD
Injective MSFT/USDC PERP
edgeX MSFTUSDC