Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%
Price spread now: Variational Omni against Ondo Perps+0.048%7-day average +0.094% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.062%−$6 on $10k
+Price spread, last 4 days (all we have)+0.293%+$29 · spread now +0.048%, 7d avg +0.094%
=Together, before fees+0.230%+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm board+$23 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.045% cheaper against Ondo Perps than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.094%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSFT-USD.P | 503.68 | 0.0050 | pay 0.0006% / 1h | 19m 03s | $534K | $392K | 15x |
| Short | Variational Omni MSFT | 503.92 | 0 | get 0.0000% / 8h | 7h 19m | $1.3M | $387K | — |
Ondo Perps MSFT-USD.P
Variational Omni MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Ondo Perps. 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
- −$10.58
- Price spread: +0.048% → +0.094%
- −$4.55
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$20.13
- Costs to cover
- 0.050%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 5 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 5 min ago | 3.15 bp | doesn't fit | 12.6 bp −$126 | doesn't fit | doesn't fit |
Ondo Perps: 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 | −0.0638% | 4h | 503.89 | +0.042% | $103K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0056% | 1h | 503.64 | −0.008% | $685K | $452K | 10x | as long as short |
| Nado MSFT-PERP | −0.0009% | 1h | 503.72 | +0.008% | $415K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0002% | 8h | 504.16 | +0.095% | $192K | $203K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.27 | +0.117% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.08 | +0.079% | $335K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.11 | +0.085% | $16.3M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.82 | +0.028% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.07 | +0.077% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.93 | +0.050% | $3.1M | $1.9M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 504.08 | +0.079% | $3.9M | $2.8M | 100x | as long as short |
| Variational Omni MSFTshort | 0.0000% | 8h | 503.92 | +0.048% | $1.3M | $387K | — | |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.94 | +0.052% | $19K | $316K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.93 | +0.248% | $6K | $3.5M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.01 | +0.066% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.60 | +0.183% | $2.2M | $846K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.53 | −0.030% | $11K | $15K | 20x | as long as short |
| QFEX MSFT-USD | +0.0023% | 1h | 504.05 | +0.073% | $1.1M | $4.6M | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.88 | +0.040% | $1.2M | $522K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.98 | +0.060% | $700K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.94 | +0.052% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.07 | +0.077% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.62 | −0.012% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.84 | +0.032% | $303K | $650K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.90 | +0.044% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.Plong | +0.0050% | 1h | 503.68 | long leg | $534K | $392K | 15x | |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 504.04 | +0.071% | $222 | — | 5x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0068% | 1h | 503.91 | +0.046% | $27K | $45K | 10x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.57 | −0.022% | $1.6M | $123K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.33 | −0.069% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.05 | +0.073% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.03 | +0.070% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0136% | 1h | 503.38 | −0.060% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 505.30 | +0.322% | $116K | $45K | 30x | as long as short |
Bitget MSFTUSDT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
QFEX MSFT-USD
Lighter MSFT
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Deribit MSFT_USDC-PERPETUAL
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP