MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.23 per $10,000 · paid last 24h +0.054%

Price spread now: Injective against QFEX+0.085%7-day average −0.027% · 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−$22as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on QFEX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.220%+$22 on $10k

Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.085%, 7d avg −0.027%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.113% dearer against QFEX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	503.61	0.0039	pay 0.0005% / 1h	14m 23s	$1.2M	$4.8M	10x
Short	Injective MSFT/USDC PERP	504.04	0.0220	get 0.0028% / 1h	14m 23s	$115K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.085%Rate

Funding earned: $37.93
Price spread: +0.085% → −0.027%: $11.26
Slippage, 4 orders: −$23.22
Fee QFEX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $15.96
Costs to cover: 0.332%
Break-even: 4.1 days

Slippage from QFEX: live order book, 4 min ago; Injective: live order book, 29 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, 4 min ago	0.79 bp	5.8 bp −$6	8.3 bp −$83	16.6 bp −$1,665	doesn't fit
Sell Injective live order book, 29 min ago	10.13 bp	10.1 bp −$10	10.1 bp −$101	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
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.010%	$682K	$500K	10x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	503.69	+0.016%	$190K	$207K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.42	−0.037%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.57	−0.008%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.72	+0.022%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.46	−0.030%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.76	+0.030%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.54	−0.014%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.67	+0.012%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	−0.001%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.61	0.000%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.45	+0.167%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.35	−0.052%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.58	−0.006%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.70	+0.018%	$2.2M	$822K	10x	as long as short
Nado MSFT-PERP	+0.0024%	1h	503.40	−0.042%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.51	−0.020%	$700K	$2.0M	20x	as long as short
QFEX MSFT-USDlong	+0.0039%	1h	503.61	long leg	$1.2M	$4.8M	10x
Arcus MSFT-USD	+0.0040%	1h	503.40	−0.042%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.68	+0.014%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.19	−0.083%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.30	−0.062%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.57	−0.008%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.19	−0.083%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	503.56	−0.010%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.066%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.101%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.15	−0.091%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.53	−0.016%	$8K	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0104%	1h	503.19	−0.083%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.57	−0.007%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	503.72	+0.022%	$1.2M	$517K	20x	as long as short
Injective MSFT/USDC PERPshort	+0.0220%	1h	504.04	+0.085%	$115K	$45K	30x
edgeX MSFTUSDC	+0.0701%	4h	503.63	+0.004%	$102K	$244K	10x	as long as short