Funding you earn now, next payment 02:00 UTC+0.0596%/8h= +65.2% APRpaid last 24h −0.010%
Price spread now: edgeX against Phoenix+0.060%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+0.030%+$3 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and edgeX is 0.060% dearer against Phoenix than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.030% in total (about 1.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 501.44 | 0.0064 | pay 0.0008% / 1h | 26m 53s | $10K | $15K | 20x |
| Short | edgeX MSFTUSDC | 501.74 | 0.0660 | get 0.0330% / 4h | 1h 26m | $102K | $244K | 10x |
Phoenix MSFT
edgeX MSFTUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- $125.12
- Price spread: +0.060% → 0.000%
- $6.02
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- $115.14
- Costs to cover
- 0.160%
- Break-even
- 0.6 days
Slippage unknown: Phoenix: no order-book sample; edgeX: live order book, 35 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 edgeX live order book, 35 min ago | 5.68 bp | 10.3 bp −$10 | 12.6 bp −$126 | 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 | −0.0064% | 1h | 501.24 | −0.040% | $679K | $456K | 10x | as long as short |
| Nado MSFT-PERP | −0.0030% | 1h | 501.37 | −0.015% | $414K | $64K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0021% | 8h | 501.70 | +0.052% | $189K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.66 | +0.045% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.51 | +0.014% | $337K | $892K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.54 | +0.020% | $15.7M | $18.9M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.45 | +0.002% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.78 | +0.068% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.50 | +0.012% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.62 | +0.036% | $4.5M | $2.5M | 100x | as long as short |
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_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 501.82 | +0.075% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.69 | +0.050% | $19K | $296K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.39 | +0.189% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.30 | −0.028% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.45 | +0.002% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.65 | +0.042% | $2.2M | $767K | 10x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.48 | +0.008% | $1.1M | $5.6M | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.41 | −0.006% | $685K | $2.0M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.49 | +0.010% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.52 | +0.016% | — | $1K | 25x | as long as short |
| Hotstuff MSFT-PERP | +0.0048% | 1h | 501.23 | −0.042% | $32K | $8K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.21 | −0.046% | $22.1M | $9.1M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.28 | −0.032% | $302K | $648K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.50 | +0.012% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.39 | −0.010% | $525K | $487K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0061% | 8h | 501.51 | +0.015% | $221 | — | 5x | as long as short |
| Phoenix MSFTlong | +0.0064% | 1h | 501.44 | long leg | $10K | $15K | 20x | |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.45 | +0.002% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.49 | +0.010% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.56 | +0.024% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.49 | +0.010% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0184% | 1h | 501.76 | +0.064% | $1.1M | $459K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.24 | +0.359% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDCshort | +0.0660% | 4h | 501.74 | +0.060% | $102K | $244K | 10x |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
Hotstuff MSFT-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP