Funding you earn now, next payment 22:00 UTC+0.0080%/8h= +8.7% APRnext payment +$0.10 per $10,000 · paid last 24h −0.007%
Price spread now: Phoenix against Deribit+0.020%70s7-day average — · you sell dearer than you buy
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: +$2 a day on $10k at the current rate. The two prices were read 70 seconds apart, so part of this spread may be the market moving, not a spread.
| 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 43s | $27K | $104K | 10x |
| Short | Phoenix MSFT | 501.75 | 0.0080 | get 0.0010% / 1h | 45m 43s | $10K | $15K | 20x |
Deribit MSFT_USDC-PERPETUAL
Phoenix MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $16.75
- Price spread: +0.020% → 0.000%
- $1.99
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $4.74
- Costs to cover
- 0.140%
- Break-even
- 5.0 days
Slippage unknown: Deribit: live order book, 38 min ago; Phoenix: 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 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 Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | |
|---|---|---|---|---|---|---|---|---|
| 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 |
edgeX MSFTUSDC
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow 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 MSFTshort | +0.0080% | 1h | 501.75 | +0.020% | $10K | $15K | 20x | |
| 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-USD | +0.0200% | 1h | 501.83 | +0.036% | $110K | $90K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.17 | +0.303% | $115K | $45K | 30x | as long as short |
SunX MSFT-USDT
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
Bybit MSFTUSDT
Nado MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Lighter MSFT
Aevo MSFT-PERP
Arcus MSFT-USD
Injective MSFT/USDC PERP