MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0039%/8h= −4.3% APRnext payment −$0.05 per $10,000 · paid last 24h −0.020%

Price spread now: Coinbase International against QFEX+0.024%7-day average −0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on QFEX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now +0.024%, 7d avg −0.098%

Together, before fees−0.060%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.122% dearer against QFEX than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.098%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 4 days (−0.004% in total) that is about 4 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	503.54	0.0039	pay 0.0005% / 1h	57m 58s	$1.2M	$4.8M	10x
Short	Coinbase International MSFT-PERP-INTX	503.66	0	get 0.0000% / 1h	57m 58s	$682K	$462K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against QFEX. 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 QFEXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$8.27
Price spread: +0.024% → −0.098%: $12.15
Slippage, 4 orders: −$9.28
Fee QFEX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25.4
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; Coinbase International: live order book, 45 min ago.

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 QFEX live order book, 6 min ago	1.59 bp	6.6 bp −$7	7.0 bp −$70	14.2 bp −$1,421	doesn't fit
Sell Coinbase International live order book, 45 min ago	2.48 bp	8.3 bp −$8	10.5 bp −$105	doesn't fit	doesn't fit

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
edgeX MSFTUSDC	−0.0891%	4h	503.52	−0.004%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0124%	1h	503.46	−0.016%	$414K	$67K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0021%	1h	503.16	−0.075%	$22.4M	$8.9M	20x	as long as short
BloFin MSFT-USDT	−0.0001%	8h	503.60	+0.012%	$190K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.46	−0.015%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.43	−0.022%	$338K	$1.6M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.57	+0.006%	$15.8M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.32	−0.044%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.51	−0.006%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.28	−0.052%	$3.1M	$1.8M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.54	0.000%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.65	+0.021%	$1.3M	$414K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.66	+0.024%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.33	+0.157%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.30	−0.048%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTXshort	0.0000%	1h	503.66	+0.024%	$682K	$462K	10x
HTX MSFT-USDT	0.0000%	8h	503.38	−0.032%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.64	+0.020%	$2.2M	$823K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.35	−0.038%	$695K	$1.9M	20x	as long as short
QFEX MSFT-USDlong	+0.0039%	1h	503.54	long leg	$1.2M	$4.8M	10x
Arcus MSFT-USD	+0.0040%	1h	503.33	−0.042%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.71	+0.034%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	503.21	−0.066%	$32K	$8K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.22	−0.064%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.37	−0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.22	−0.064%	$512K	$439K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.46	−0.016%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	−0.032%	$11K	$15K	20x	as long as short
Lighter MSFT	+0.0064%	1h	503.54	0.000%	$1.2M	$518K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.96	−0.115%	$1.6M	$61K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.41	−0.026%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.48	−0.012%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.46	−0.016%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.98	+0.087%	$115K	$45K	30x	as long as short