Funding you earn now, next payment 05:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h 0.000%
Price spread now: Paradex against Phoenix+0.080%7-day average — · 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)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Paradex is 0.080% dearer against Phoenix than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 503.79 | 0.0016 | pay 0.0002% / 1h | 24m 48s | $11K | $15K | 20x |
| Short | Paradex MSFT-USD-PERP | 504.19 | 0.0052 | get 0.0052% / 8h | 2h 24m | $222 | — | 5x |
Phoenix MSFT
Paradex MSFT-USD-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Paradex 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
- $7.62
- Price spread: +0.080% → 0.000%
- $7.95
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- $4.57
- Costs to cover
- 0.110%
- Break-even
- 2.8 days
Slippage unknown: Phoenix: no order-book sample; Paradex: no order-book sample. 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 Paradex no order-book sample | — | — | — | — | — |
Phoenix and Paradex: 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 | 503.98 | +0.038% | $687K | $485K | 10x | as long as short |
| Nado MSFT-PERP | −0.0034% | 1h | 504.11 | +0.064% | $415K | $68K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0009% | 8h | 504.26 | +0.093% | $189K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.08 | +0.058% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.16 | +0.074% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.35 | +0.110% | $15.8M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.00 | +0.042% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.30 | +0.101% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.99 | +0.040% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.26 | +0.093% | $3.8M | $3.0M | 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 | 504.15 | +0.071% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.79 | 0.000% | $19K | $317K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.12 | +0.264% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 504.04 | +0.050% | $27K | $43K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.22 | +0.085% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.48 | +0.137% | $2.2M | $801K | 10x | as long as short |
| Phoenix MSFTlong | +0.0016% | 1h | 503.79 | long leg | $11K | $15K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 504.07 | +0.056% | $688K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 504.25 | +0.091% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.79 | 0.000% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.30 | +0.101% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.92 | +0.026% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.88 | +0.018% | $303K | $720K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.17 | +0.075% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.80 | +0.002% | $518K | $471K | 15x | as long as short |
| Paradex MSFT-USD-PERPshort | +0.0052% | 8h | 504.19 | +0.080% | $222 | — | 5x | |
| Lighter MSFT | +0.0088% | 1h | 504.30 | +0.101% | $1.2M | $516K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.49 | −0.060% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.91 | +0.024% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.08 | +0.058% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.12 | +0.065% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0192% | 1h | 503.67 | −0.024% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.04 | +0.050% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0832% | 4h | 504.10 | +0.061% | $103K | $242K | 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 RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC