Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%
Price spread now: KuCoin against Phemex−0.048%7-day average −0.119% · you buy dearer than you sell
Net, funding: paid 7d − costs−$321as in the Funding arb table
Net, price: spread back to 7d avg − costs−$333as in the Price arb table
costs, in and out, $10k−$3403.397% of the position
Funding, last 7 days+0.186%+$19 on $10k
+Price spread, last 3 days (all we have)−0.070%−$7 · spread now −0.048%, 7d avg −0.119%
=Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.072% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.119%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 501.69 | 0 | get 0.0000% / 8h | 5h 50m | $2.2M | $762K | 10x |
| Short | KuCoin MSFTUSDTM | 501.45 | 0.0100 | get 0.0100% / 8h | 5h 50m | $1.5M | $19K | 20x |
Phemex MSFTUSDT
KuCoin MSFTUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Phemex. 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
- $21
- Price spread: −0.048% → −0.119%
- $7.15
- Slippage, 4 orders
- −$315.67
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$311.51
- Costs to cover
- 3.397%
- Break-even
- 110.8 days
Slippage from Phemex: live order book, 3 min ago; KuCoin: live order book, 5 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 Phemex live order book, 3 min ago | 0.20 bp | 30.5 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 5 min ago | 10.88 bp | 162.9 bp −$163 | doesn't fit | doesn't fit | doesn't fit |
MSFT on 33 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0136% | 1h | 501.51 | −0.035% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 501.24 | −0.090% | $679K | $456K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.0006% | 1h | 501.14 | −0.110% | $22.1M | $9.1M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.73 | +0.008% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.42 | −0.054% | $338K | $891K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.56 | −0.025% | $15.6M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.64 | −0.010% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.80 | +0.022% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.41 | −0.056% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.59 | −0.020% | $4.5M | $2.5M | 100x | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
tradeXYZ xyz:MSFT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 501.49 | −0.040% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.63 | −0.012% | $18K | $293K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.40 | +0.142% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.24 | −0.090% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.49 | −0.040% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDTlong | 0.0000% | 8h | 501.69 | long leg | $2.2M | $762K | 10x | |
| QFEX MSFT-USD | +0.0030% | 1h | 501.47 | −0.044% | $1.1M | $5.7M | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.38 | −0.062% | $664K | $2.0M | 20x | as long as short |
| Lighter MSFT | +0.0040% | 1h | 501.65 | −0.008% | $1.1M | $454K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.41 | −0.056% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.60 | −0.018% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.16 | −0.106% | $303K | $646K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.44 | −0.050% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.14 | −0.110% | $522K | $481K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.58 | −0.022% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.46 | −0.046% | $10K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0080% | 1h | 501.20 | −0.098% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTMshort | +0.0100% | 8h | 501.45 | −0.048% | $1.5M | $19K | 20x | |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.24 | −0.090% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.47 | −0.044% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.45 | −0.047% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.87 | +0.036% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0799% | 4h | 501.52 | −0.033% | $102K | $243K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
QFEX MSFT-USD
Lighter RH MSFT
Lighter MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC