Spread before costs (cost unknown: a leg has no order-book sample)−0.083%
7d average—if it closes, per $10,000$8funding while held, a day−$3.12
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aevo MSFT-PERP | 494.34 | 0.0104 | pay 0.0013% / 1h | 57m 29s | $54 | — | 10x |
| Short | Variational Omni MSFT | 493.93 | 0 | get 0.0000% / 8h | 7h 57m | $1.2M | $705K | — |
Aevo MSFT-PERP
Variational Omni MSFTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$8.25
- Funding while held
- −$3.12
- Slippage, 4 orders
- no order book: not counted
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$27.37
- Spread needed to break even
- 0.160%
Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0104%
- Per $10,000 a day
- −$3.12
- Average in range /8h
- —
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 Aevo no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 3 min ago | 2.95 bp | doesn't fit | 12.7 bp −$127 | doesn't fit | doesn't fit |
Aevo: 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 price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International493.02cheapestPhoenix493.39+0.075%ApeX Omni493.74+0.146%KuCoin493.84+0.166%Injective493.92+0.183%
Coinbase International
Phoenix
ApeX Omni
KuCoin
InjectiveVariational Omni493.93+0.185%
edgeX493.95+0.190%Polymarket Perps493.97+0.193%Ondo Perps494.01+0.201%Nado494.13+0.226%tradeXYZ494.15+0.229%BloFin494.15+0.229%Hotstuff494.16+0.231%Vest494.16+0.231%Aster494.17+0.233%Gate494.23+0.245%Orderly494.27+0.254%HTX494.29+0.258%Deribit494.30+0.260%
Polymarket Perps
Ondo Perps
Nado
tradeXYZ
BloFin
Hotstuff
Vest
Aster
Gate
Orderly
HTX
DeribitAevo494.34+0.268%
Lighter RH494.35+0.270%OKX494.38+0.276%Bybit494.39+0.278%SoDEX494.39+0.278%Bitget494.40+0.280%QFEX494.41+0.282%Paradex494.42+0.284%Binance494.44+0.288%Arcus494.47+0.294%Extended494.48+0.296%Lighter494.53+0.306%Phemex494.83+0.367%SunX495.25+0.452%
Lighter RH
OKX
Bybit
SoDEX
Bitget
QFEX
Paradex
Binance
Arcus
Extended
Lighter
Phemex
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.267% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| Phoenix MSFT | −0.192% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| ApeX Omni MSFTUSDT | −0.121% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| KuCoin MSFTUSDTM | −0.101% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Injective MSFT/USDC PERP | −0.085% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| Variational Omni MSFTshort | −0.083% | 0.0000% | 8h | $1.2M | $705K | — | |
| edgeX MSFTUSDC | −0.078% | −0.0742% | 4h | $100K | $245K | 10x | as long as short |
| Polymarket Perps MSFT-USD | −0.075% | +0.0050% | 1h | $288K | $478K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.067% | +0.0050% | 1h | $536K | $383K | 15x | as long as short |
| Nado MSFT-PERP | −0.042% | −0.0028% | 1h | $459K | $4K | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:MSFT | −0.039% | +0.0050% | 1h | $22.0M | $7.4M | 20x | as long as short |
| BloFin MSFT-USDT | −0.039% | −0.0011% | 8h | $197K | $157K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.037% | +0.0048% | 1h | $40K | — | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.037% | +0.0046% | 1h | — | — | 25x | as long as short |
| Aster MSFTUSDT | −0.034% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Gate MSFT_USDT | −0.022% | 0.0000% | 8h | $3.1M | $1.2M | 100x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.014% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| HTX MSFT-USDT | −0.010% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.008% | 0.0000% | 1h | $27K | $108K | 10x | as long as short |
| Aevo MSFT-PERPlong | 0.000% | +0.0104% | 1h | $54 | — | 10x | |
| Lighter RH MSFT | +0.002% | +0.0032% | 1h | $676K | $2.0M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | +0.008% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| Bybit MSFTUSDT | +0.010% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| SoDEX MSFT-USD | +0.010% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Bitget MSFTUSDT | +0.012% | +0.0002% | 8h | $3.8M | $1.6M | 100x | as long as short |
| QFEX MSFT-USD | +0.014% | +0.0042% | 1h | $1.1M | $3.7M | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.016% | +0.0051% | 8h | $218 | — | 5x | as long as short |
| Binance MSFTUSDT | +0.020% | +0.0016% | 8h | $15.7M | $14.3M | 20x | as long as short |
| Arcus MSFT-USD | +0.026% | +0.0442% | 1h | $112K | $48K | 10x | as long as short |
| Extended MSFT_24_5-USD | +0.028% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| Lighter MSFT | +0.038% | +0.0032% | 1h | $1.1M | $535K | 20x | as long as short |
| Phemex MSFTUSDT | +0.099% | 0.0000% | 8h | $2.1M | $524K | 10x | as long as short |
| SunX MSFT-USDT | +0.184% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |