MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0023%/8h= −2.5% APRnext payment −$0.03 per $10,000 · paid last 24h +0.066%

Price spread now: Arcus against Phoenix+0.030%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 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 pays, funding is against you. Arcus is 0.030% dearer against Phoenix than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSFT	503.38	0.0064	pay 0.0008% / 1h	25m 13s	$11K	$15K	20x
Short	Arcus MSFT-USD	503.53	0.0040	get 0.0005% / 1h	25m 13s	$97K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$4.89
Price spread: +0.030% → 0.000%: $2.98
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$13.41
Costs to cover: 0.115%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 18 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 Phoenix no order-book sample	—	—	—	—	—
Sell Arcus live order book, 18 min ago	3.38 bp	11.0 bp −$11	13.7 bp −$137	doesn't fit	doesn't fit

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
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.056%	$682K	$500K	10x	as long as short
Hotstuff MSFT-PERP	−0.0016%	1h	503.17	−0.042%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.36	−0.003%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.56	+0.036%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.64	+0.052%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.33	−0.010%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.75	+0.074%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.58	+0.040%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.68	+0.060%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	+0.046%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.88	+0.099%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.42	+0.207%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.68	+0.060%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.76	+0.075%	$2.2M	$822K	10x	as long as short
BloFin MSFT-USDT	+0.0004%	8h	503.71	+0.066%	$191K	$206K	20x	as long as short
Nado MSFT-PERP	+0.0017%	1h	503.26	−0.024%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	−0.010%	$701K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.61	+0.046%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USDshort	+0.0040%	1h	503.53	+0.030%	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	503.64	+0.052%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.27	−0.022%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.37	−0.002%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.53	+0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	−0.026%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.46	+0.016%	$222	—	5x	as long as short
Phoenix MSFTlong	+0.0064%	1h	503.38	long leg	$11K	$15K	20x
KuCoin MSFTUSDTM	+0.0100%	8h	503.11	−0.054%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.50	+0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.57	+0.038%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.54	+0.031%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0128%	1h	503.40	+0.004%	$27K	$43K	10x	as long as short
Lighter MSFT	+0.0136%	1h	503.59	+0.042%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.165%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0931%	4h	503.77	+0.077%	$102K	$242K	10x	as long as short