MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0200%/8h= +21.9% APRnext payment +$0.25 per $10,000 · paid last 24h +0.051%

Price spread now: Arcus against Deribit+0.036%7-day average +0.008% · 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−$29as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Deribit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.061%+$6 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now +0.036%, 7d avg +0.008%

Together, before fees+0.022%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Arcus is 0.028% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.008%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.061% in total (about 6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. 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	Deribit MSFT_USDC-PERPETUAL	501.65	0	get 0.0000% / 1h	45m 44s	$27K	$104K	10x
Short	Arcus MSFT-USD	501.83	0.0200	get 0.0025% / 1h	45m 44s	$110K	$90K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee ArcusbpOrdersPrice spread, now +0.036%Rate

Funding earned: $42.02
Price spread: +0.036% → +0.008%: $2.76
Slippage, 4 orders: −$19.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $13.47
Costs to cover: 0.313%
Break-even: 4.8 days

Slippage from Deribit: live order book, 38 min ago; Arcus: live order book, 37 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 Deribit live order book, 38 min ago	0.10 bp	3.6 bp −$4	5.3 bp −$53	doesn't fit	doesn't fit
Sell Arcus live order book, 37 min ago	3.69 bp	8.0 bp −$8	8.6 bp −$86	17.6 bp −$1,756	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	−0.0510%	4h	502.15	+0.100%	$102K	$243K	10x	as long as short
BloFin MSFT-USDT	−0.0017%	8h	502.07	+0.084%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	+0.072%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.01	+0.073%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.12	+0.093%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.14	+0.098%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.79	+0.028%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.12	+0.094%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.15	+0.100%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.05	+0.080%	$19K	$321K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.83	+0.235%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUALlong	0.0000%	1h	501.65	long leg	$27K	$104K	10x
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.014%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.94	+0.058%	$59K	$229K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.27	+0.124%	$2.2M	$769K	10x	as long as short
Bybit MSFTUSDT	+0.0007%	8h	502.12	+0.094%	$7.4M	$1.7M	100x	as long as short
Nado MSFT-PERP	+0.0008%	1h	501.54	−0.022%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.87	+0.044%	$653K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.96	+0.062%	$1.2M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.91	+0.052%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.61	−0.008%	$22.3M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.56	−0.018%	$305K	$684K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.01	+0.072%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.64	−0.002%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.90	+0.050%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.75	+0.020%	$10K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	501.68	+0.006%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.57	−0.016%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.55	−0.020%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.98	+0.066%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	502.03	+0.076%	$1.1M	$589K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.03	+0.076%	$55	—	10x	as long as short
Arcus MSFT-USDshort	+0.0200%	1h	501.83	+0.036%	$110K	$90K	10x
Injective MSFT/USDC PERP	+0.0220%	1h	503.17	+0.303%	$115K	$45K	30x	as long as short