Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRnext payment −$0.05 per $10,000 · paid last 24h −0.014%
Price spread now: Coinbase International against Deribit−0.020%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSFT_USDC-PERPETUAL | 501.07 | 0 | get 0.0000% / 1h | 37m 59s | $27K | $41K | 10x |
| Short | Coinbase International MSFT-PERP-INTX | 500.97 | −0.0040 | pay 0.0005% / 1h | 37m 59s | $678K | $456K | 10x |
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Deribit. 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
- −$8.4
- Price spread: −0.020% → 0.000%
- −$2
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$27.4
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Coinbase International: live order book, 20 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 20 min ago | 2.70 bp | 8.5 bp −$8 | 11.3 bp −$113 | doesn't fit | doesn't fit |
Deribit: 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 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-INTXshort | −0.0040% | 1h | 500.97 | −0.020% | $678K | $456K | 10x | |
| Nado MSFT-PERP | −0.0024% | 1h | 501.02 | −0.010% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.02 | −0.010% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.24 | +0.033% | $341K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.35 | +0.056% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.02 | −0.010% | $7.2M | $2.1M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.40 | +0.066% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.23 | +0.032% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.34 | +0.054% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.35 | +0.056% | $1.3M | $613K | — | as long as short |
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit 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 | 501.38 | +0.062% | $19K | $302K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.12 | +0.210% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUALlong | 0.0000% | 1h | 501.07 | long leg | $27K | $41K | 10x | |
| HTX MSFT-USDT | 0.0000% | 8h | 501.17 | +0.020% | $58K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.44 | +0.074% | $2.2M | $779K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0010% | 8h | 501.40 | +0.066% | $189K | $204K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 500.85 | −0.044% | $32K | $8K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.12 | +0.010% | $674K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 501.24 | +0.034% | $1.1M | $5.5M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.09 | +0.004% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.05 | −0.004% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 500.92 | −0.030% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 500.86 | −0.042% | $22.1M | $8.7M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.92 | −0.030% | $318K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.24 | +0.034% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.97 | −0.020% | $527K | $456K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 501.25 | +0.035% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.86 | −0.042% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.05 | −0.004% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.27 | +0.040% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.25 | +0.037% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0120% | 1h | 501.37 | +0.060% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.66 | +0.118% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0513% | 4h | 501.36 | +0.059% | $102K | $242K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Hotstuff MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP
edgeX MSFTUSDC