Funding you earn now, next payment 00:00 UTC+0.0205%/8h= +22.5% APRpaid last 24h +0.064%
Price spread now: edgeX against Bybit−0.006%61s7-day average +0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as 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−$410.408% of the position
Funding, last 7 days+0.125%+$13 on $10k
+Price spread, last 3 days (all we have)−0.010%−$1 · spread now −0.006%, 7d avg +0.009%
=Together, before fees+0.115%+ Points / potential airdropedgeX: Active · farm board+$12 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 61 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 0.125% in total (about 6.5% 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 | Bybit MSFTUSDT | 501.94 | 0.0030 | pay 0.0030% / 8h | 14m 33s | $7.4M | $1.7M | 100x |
| Short | edgeX MSFTUSDC | 501.91 | 0.0235 | get 0.0118% / 4h | 14m 33s | $102K | $244K | 10x |
Bybit MSFTUSDT
edgeX MSFTUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX against Bybit. 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
- $43.15
- Price spread: −0.006% → +0.009%
- −$1.43
- Slippage, 4 orders
- −$20.83
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- $0.9
- Costs to cover
- 0.408%
- Break-even
- 6.9 days
Slippage from Bybit: live order book, 3 min ago; edgeX: live order book, 63 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 Bybit live order book, 3 min ago | 0.80 bp | 9.4 bp −$9 | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell edgeX live order book, 63 min ago | 5.48 bp | 10.1 bp −$10 | 12.4 bp −$124 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0025% | 1h | 501.67 | −0.053% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0019% | 8h | 501.85 | −0.018% | $188K | $209K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 501.76 | −0.036% | $687K | $449K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.01 | +0.013% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.71 | −0.047% | $337K | $392K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.83 | −0.022% | $15.7M | $19.1M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.05 | +0.022% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.62 | −0.064% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.87 | −0.014% | $3.8M | $2.3M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.88 | −0.012% | $1.3M | $692K | — | as long as short |
Nado MSFT-PERP
BloFin MSFT-USDT
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.94 | 0.000% | $19K | $295K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.60 | +0.131% | $6K | $4.3M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.64 | −0.060% | $27K | $101K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.66 | −0.056% | $58K | $228K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.94 | 0.000% | $2.2M | $748K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 501.49 | −0.090% | $32K | $8K | 20x | as long as short |
| Bybit MSFTUSDTlong | +0.0030% | 8h | 501.94 | long leg | $7.4M | $1.7M | 100x | |
| Lighter RH MSFT | +0.0032% | 1h | 501.71 | −0.046% | $619K | $2.1M | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.81 | −0.026% | — | $1K | 25x | as long as short |
| QFEX MSFT-USD | +0.0049% | 1h | 501.84 | −0.020% | $1.1M | $5.9M | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.49 | −0.090% | $22.3M | $9.4M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.53 | −0.082% | $303K | $678K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.73 | −0.042% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.50 | −0.088% | $529K | $493K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 501.78 | −0.033% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.77 | −0.034% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.30 | −0.128% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.48 | −0.092% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.77 | −0.034% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.75 | −0.038% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0160% | 1h | 501.95 | +0.002% | $1.1M | $586K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.46 | +0.104% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDCshort | +0.0235% | 4h | 501.91 | −0.006% | $102K | $244K | 10x | |
| Arcus MSFT-USD | +0.0286% | 1h | 501.74 | −0.040% | $97K | $109K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
Lighter RH MSFT
Vest MSFT-USD-PERP
QFEX MSFT-USD
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
Arcus MSFT-USD