Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.070%
Price spread now: Binance against Arcus+0.016%7-day average +0.045% · 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−$37as in the Price arb table
costs, in and out, $10k−$340.340% of the position
Funding, last 4 days (all we have)−0.124%−$12 on $10k
+Price spread, last 4 days (all we have)+0.244%+$24 · spread now +0.016%, 7d avg +0.045%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.029% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.045%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus MSFT-USD | 501.56 | 0.0040 | pay 0.0005% / 1h | 28m 43s | $97K | $110K | 10x |
| Short | Binance MSFTUSDT | 501.64 | 0 | get 0.0000% / 8h | 5h 28m | $15.7M | $18.9M | 20x |
Arcus MSFT-USD
Binance MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Arcus. 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
- −$8.46
- Price spread: +0.016% → +0.045%
- −$2.94
- Slippage, 4 orders
- −$19.45
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$45.35
- Costs to cover
- 0.340%
- Break-even
- never at this rate
Slippage from Arcus: live order book, 34 min ago; Binance: live order book, 12 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 Arcus live order book, 34 min ago | 1.20 bp | 8.0 bp −$8 | 11.3 bp −$113 | doesn't fit | doesn't fit |
| Sell Binance live order book, 12 min ago | 0.20 bp | 6.8 bp −$7 | 14.3 bp −$143 | 54.4 bp −$5,444 | 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 | −0.0064% | 1h | 501.24 | −0.064% | $679K | $456K | 10x | as long as short |
| Nado MSFT-PERP | −0.0030% | 1h | 501.49 | −0.014% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0021% | 8h | 501.76 | +0.040% | $189K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.59 | +0.005% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.50 | −0.012% | $337K | $892K | 17x | as long as short |
| Binance MSFTUSDTshort | 0.0000% | 8h | 501.64 | +0.016% | $15.7M | $18.9M | 20x | |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.67 | +0.022% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.90 | +0.068% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.65 | +0.018% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.75 | +0.038% | $4.5M | $2.5M | 100x | as long as short |
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
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 | 501.82 | +0.051% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.87 | +0.062% | $18K | $297K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.53 | +0.193% | $6K | $4.1M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.63 | +0.014% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.77 | +0.042% | $2.2M | $767K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0016% | 1h | 501.37 | −0.038% | $32K | $8K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0029% | 1h | 501.49 | −0.014% | $27K | $41K | 10x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.70 | +0.028% | $1.1M | $5.6M | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.41 | −0.030% | $685K | $2.0M | 20x | as long as short |
| Arcus MSFT-USDlong | +0.0040% | 1h | 501.56 | long leg | $97K | $110K | 10x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.62 | +0.012% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.24 | −0.064% | $22.1M | $9.1M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.36 | −0.040% | $302K | $648K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.63 | +0.014% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.39 | −0.034% | $525K | $487K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0061% | 8h | 501.52 | −0.008% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.44 | −0.024% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.43 | −0.026% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.49 | −0.014% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.62 | +0.012% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.64 | +0.016% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0184% | 1h | 501.77 | +0.042% | $1.1M | $459K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.24 | +0.335% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0990% | 4h | 501.81 | +0.051% | $102K | $244K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
QFEX MSFT-USD
Lighter RH MSFT
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
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
edgeX MSFTUSDC