MSFT

Alert

Funding spread now, next payment 13:00 UTC−0.0032%/8h

paid, last 24h−0.011%paid, last 3 days−0.047%to open and closeno order book

Long on Phoenix Short on Variational Omni

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSFT	495.66	0.0032	pay 0.0004% / 1h	34m 16s	$10K	$15K	20x
Short	Variational Omni MSFT	495.93	0	get 0.0000% / 8h	2h 34m	$1.3M	$620K	—

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee Variational OmnibpOrdersRate

Funding earned: −$6.78
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$13.78
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.055%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Variational Omni RFQ quote, 1 min ago	2.53 bp	doesn't fit	8.9 bp −$89	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 33 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Hotstuff MSFT-PERP	−0.1600%	1h	$40K	—	20x	as long as short
edgeX MSFTUSDC	−0.0641%	4h	$101K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0009%	1h	$460K	$1K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	$671K	$303K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	$150K	$4K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	$335K	$365K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	$15.8M	$6.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	$7.2M	$672K	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	$2.9M	$386K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	$3.0M	$786K	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	$3.6M	$1.0M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	$1.3M	$620K	—
SunX MSFT-USDT	0.0000%	8h	$6K	$2.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	$23K	$89K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	$58K	$230K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	$2.0M	$340K	10x	as long as short
BloFin MSFT-USDT	+0.0023%	8h	$190K	$103K	20x	as long as short
Lighter MSFT	+0.0032%	1h	$1.1M	$448K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	$660K	$2.6M	20x	as long as short
Phoenix MSFTlong	+0.0032%	1h	$10K	$15K	20x
QFEX MSFT-USD	+0.0038%	1h	$1.1M	$2.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0044%	1h	$23.3M	$5.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	—	—	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	$291K	$209K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	$59K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	$218	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	$527K	$320K	15x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	$1.5M	$6K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	$158K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	$54	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	$114K	$173K	30x	as long as short
Arcus MSFT-USD	+0.0298%	1h	$113K	$49K	10x	as long as short