MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.053%

Price spread now: tradeXYZ against Injective−0.380%74s7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as 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−$810.808% of the position

Long on Injective Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now −0.380%, 7d avg −0.062%

Together, before fees−0.606%+ Points / potential airdroptradeXYZ: Active · farm board−$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and tradeXYZ is 0.318% cheaper against Injective than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.062%). Swap the legs. The two prices were read 74 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	Injective MSFT/USDC PERP	505.30	0.0220	pay 0.0028% / 1h	19m 57s	$116K	$45K	30x
Short	tradeXYZ xyz:MSFT	503.38	0.0050	get 0.0006% / 1h	19m 57s	$22.4M	$8.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Injective. 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 InjectivebpFee tradeXYZbpOrdersPrice spread, now −0.380%Rate

Funding earned: −$35.7
Price spread: −0.380% → −0.062%: −$31.84
Slippage, 4 orders: −$62.73
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$148.3
Costs to cover: 0.808%
Break-even: never at this rate

Slippage from Injective: live order book, 14 min ago; tradeXYZ: live order book, 9 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 Injective live order book, 14 min ago	30.23 bp	30.2 bp −$30	21047.1 bp −$210.5K	300462.6 bp −$30.05M	1542299.4 bp −$771.15M
Sell tradeXYZ live order book, 9 min ago	0.10 bp	9.7 bp −$10	11.7 bp −$117	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
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.55	−0.346%	$686K	$451K	10x	as long as short
Nado MSFT-PERP	−0.0010%	1h	503.49	−0.357%	$414K	$67K	20x	as long as short
BloFin MSFT-USDT	−0.0007%	8h	503.98	−0.261%	$192K	$203K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.30	−0.198%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.90	−0.276%	$335K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.18	−0.222%	$16.4M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.66	−0.325%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.09	−0.239%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.66	−0.325%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.03	−0.251%	$3.9M	$2.8M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.92	−0.273%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.92	−0.273%	$19K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.75	−0.109%	$6K	$3.5M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.88	−0.281%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.22	−0.214%	$2.2M	$845K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.53	−0.350%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.90	−0.277%	$1.2M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.71	−0.315%	$1.2M	$519K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.72	−0.313%	$700K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.72	−0.313%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.78	−0.301%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFTshort	+0.0050%	1h	503.38	−0.380%	$22.4M	$8.9M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	503.49	−0.358%	$303K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.74	−0.309%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.39	−0.378%	$534K	$390K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.77	−0.303%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.51	−0.354%	$1.6M	$121K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.42	−0.372%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.88	−0.281%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.87	−0.282%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0136%	1h	503.43	−0.370%	$32K	$8K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0167%	1h	503.68	−0.321%	$27K	$45K	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	505.30	long leg	$116K	$45K	30x
edgeX MSFTUSDC	+0.0766%	4h	503.86	−0.285%	$102K	$243K	10x	as long as short