Funding you earn now, next payment 11:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.015%
Price spread now: Binance against Phoenix+0.020%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.040%−$4 on $10k
+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: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 506.10 | 0.0048 | pay 0.0006% / 1h | 47m 03s | $11K | $16K | 20x |
| Short | Binance MSFTUSDT | 506.20 | 0 | get 0.0000% / 8h | 4h 47m | $16.4M | $22.0M | 20x |
Phoenix MSFT
Binance MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- −$9.99
- Price spread: +0.020% → 0.000%
- $1.98
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$25.01
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 2 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 Binance live order book, 2 min ago | 0.10 bp | 5.6 bp −$6 | 10.7 bp −$107 | 47.8 bp −$4,784 | 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 exchanges
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 | −0.0060% | 1h | 506.29 | +0.037% | $413K | $72K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.0024% | 1h | 505.78 | −0.063% | $33K | $8K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0021% | 8h | 506.33 | +0.045% | $203K | $225K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0008% | 1h | 505.85 | −0.049% | $711K | $698K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 505.96 | −0.028% | $166K | $117K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 506.01 | −0.018% | $328K | $2.1M | 17x | as long as short |
| Binance MSFTUSDTshort | 0.0000% | 8h | 506.20 | +0.020% | $16.4M | $22.0M | 20x | |
| Bybit MSFTUSDT | 0.0000% | 8h | 505.94 | −0.032% | $7.3M | $2.4M | 100x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 506.01 | −0.018% | $3.2M | $2.0M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 506.11 | +0.002% | $4.0M | $3.2M | 100x | as long as short |
Nado MSFT-PERP
Hotstuff MSFT-PERP
BloFin MSFT-USDT
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Bybit MSFTUSDT
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 506.43 | +0.064% | $1.3M | $418K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 506.37 | +0.053% | $19K | $327K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 507.10 | +0.198% | $6K | $3.4M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 506.00 | −0.020% | $30K | $46K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 506.15 | +0.010% | $49K | $247K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 506.76 | +0.130% | $2.3M | $952K | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 506.20 | +0.020% | $1.2M | $506K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 506.11 | +0.002% | $719K | $1.9M | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0037% | 1h | 505.91 | −0.038% | $22.4M | $9.4M | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 506.13 | +0.006% | $1.2M | $4.7M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 506.04 | −0.012% | $94K | $83K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 506.36 | +0.051% | — | $1K | 25x | as long as short |
| Phoenix MSFTlong | +0.0048% | 1h | 506.10 | long leg | $11K | $16K | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 505.93 | −0.034% | $320K | $674K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 506.06 | −0.008% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 506.00 | −0.020% | $525K | $430K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0056% | 8h | 506.24 | +0.028% | $223 | — | 5x | as long as short |
| OKX MSFT-USDT-SWAP | +0.0063% | 8h | 506.50 | +0.079% | $3.2M | $2.9M | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0080% | 8h | 505.65 | −0.089% | $1.6M | $291K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 505.91 | −0.038% | $161K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 506.15 | +0.010% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 505.17 | −0.185% | $56 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 506.25 | +0.030% | $116K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0317% | 4h | 506.28 | +0.036% | $103K | $244K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter MSFT
Lighter RH MSFT
tradeXYZ xyz:MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
OKX MSFT-USDT-SWAP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC