Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.06 per $10,000 · paid last 24h −0.006%
Price spread now: Extended against tradeXYZ+0.065%7-day average +0.081% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$310.306% of the position
Funding, last 7 days−0.054%−$5 on $10k
+Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.065%, 7d avg +0.081%
=Together, before fees−0.045%+ Points / potential airdroptradeXYZ: Active · Extended: Active · farm board−$4 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.081%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 500.89 | 0.0050 | pay 0.0006% / 1h | 34m 24s | $22.1M | $8.7M | 20x |
| Short | Extended MSFT_24_5-USD | 501.22 | 0 | get 0.0000% / 1h | 34m 24s | $341K | $893K | 17x |
tradeXYZ xyz:MSFT
Extended MSFT_24_5-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended against tradeXYZ. 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
- −$10.5
- Price spread: +0.065% → +0.081%
- −$1.59
- Slippage, 4 orders
- −$7.64
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$42.73
- Costs to cover
- 0.306%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 5 min ago; Extended: live order book, 24 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 tradeXYZ live order book, 5 min ago | 0.20 bp | 10.0 bp −$10 | 13.1 bp −$131 | doesn't fit | doesn't fit |
| Sell Extended live order book, 24 min ago | 0.60 bp | 5.7 bp −$6 | 32.9 bp −$329 | 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 | −0.0306% | 4h | 501.28 | +0.078% | $102K | $243K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0064% | 1h | 500.91 | +0.004% | $32K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 500.97 | +0.016% | $678K | $456K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0022% | 8h | 501.40 | +0.102% | $189K | $204K | 20x | as long as short |
| Nado MSFT-PERP | −0.0019% | 1h | 501.04 | +0.029% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.03 | +0.029% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USDshort | 0.0000% | 1h | 501.22 | +0.065% | $341K | $893K | 17x | |
| Binance MSFTUSDT | 0.0000% | 8h | 501.41 | +0.103% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.05 | +0.032% | $7.2M | $2.1M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.46 | +0.114% | $3.0M | $2.3M | 20x | as long as short |
edgeX MSFTUSDC
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Nado MSFT-PERP
Aster MSFTUSDT
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 501.16 | +0.054% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.34 | +0.090% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.34 | +0.089% | $1.3M | $618K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.38 | +0.097% | $19K | $302K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.14 | +0.250% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.01 | +0.024% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.21 | +0.064% | $58K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.47 | +0.116% | $2.2M | $779K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.14 | +0.050% | $674K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 501.24 | +0.070% | $1.2M | $5.5M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.09 | +0.040% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.17 | +0.056% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.07 | +0.036% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFTlong | +0.0050% | 1h | 500.89 | long leg | $22.1M | $8.7M | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 500.92 | +0.006% | $318K | $697K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.16 | +0.054% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.88 | −0.002% | $527K | $456K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 501.21 | +0.064% | $221 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.92 | +0.006% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.96 | +0.014% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.29 | +0.080% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.26 | +0.074% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0128% | 1h | 501.35 | +0.092% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.66 | +0.154% | $115K | $45K | 30x | as long as short |
Gate MSFT_USDT
Bitget MSFTUSDT
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
Phoenix 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