Funding you earn now, next payment 07:00 UTC+0.0120%/8h= +13.1% APRnext payment +$0.15 per $10,000 · paid last 24h +0.036%
Price spread now: Injective against ApeX Omni+0.141%7-day average +0.033% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$400.404% of the position
Funding, last 7 days+0.233%+$23 on $10k
+Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.141%, 7d avg +0.033%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Injective is 0.108% dearer against ApeX Omni than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.033%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni MSFTUSDT | 503.50 | 0.0100 | pay 0.0013% / 1h | 24m 49s | $160K | $7K | 50x |
| Short | Injective MSFT/USDC PERP | 504.21 | 0.0220 | get 0.0028% / 1h | 24m 49s | $115K | $45K | 30x |
ApeX Omni MSFTUSDT
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against ApeX Omni. 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
- $25.2
- Price spread: +0.141% → +0.033%
- $10.79
- Slippage, 4 orders
- −$30.38
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$4.41
- Costs to cover
- 0.404%
- Break-even
- 8.2 days
Slippage from ApeX Omni: live order book, 16 min ago; Injective: live order book, 19 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 ApeX Omni live order book, 16 min ago | 5.07 bp | 10.1 bp −$10 | 64.3 bp −$643 | doesn't fit | doesn't fit |
| Sell Injective live order book, 19 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 | +0.032% | $682K | $500K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0016% | 1h | 503.17 | −0.066% | $32K | $8K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.36 | −0.027% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.52 | +0.004% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.64 | +0.028% | $15.8M | $19.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.35 | −0.030% | $7.3M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.75 | +0.050% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.49 | −0.002% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.68 | +0.036% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.61 | +0.022% | $1.3M | $499K | — | as long as short |
Coinbase International MSFT-PERP-INTX
Hotstuff MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.88 | +0.075% | $19K | $328K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.42 | +0.183% | $6K | $3.9M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.68 | +0.036% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.76 | +0.052% | $2.2M | $822K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0004% | 8h | 503.71 | +0.042% | $191K | $206K | 20x | as long as short |
| Nado MSFT-PERP | +0.0017% | 1h | 503.26 | −0.048% | $414K | $67K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.33 | −0.034% | $701K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 503.61 | +0.022% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.53 | +0.006% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.64 | +0.028% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.13 | −0.073% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.37 | −0.026% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.53 | +0.006% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.25 | −0.050% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0056% | 8h | 503.46 | −0.008% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.38 | −0.024% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.11 | −0.077% | $1.6M | $60K | 20x | as long as short |
| ApeX Omni MSFTUSDTlong | +0.0100% | 1h | 503.50 | long leg | $160K | $7K | 50x | |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.57 | +0.014% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.54 | +0.008% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0128% | 1h | 503.40 | −0.020% | $27K | $43K | 10x | as long as short |
| Lighter MSFT | +0.0144% | 1h | 503.63 | +0.026% | $1.2M | $515K | 20x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 504.21 | +0.141% | $115K | $45K | 30x | |
| edgeX MSFTUSDC | +0.0931% | 4h | 503.77 | +0.053% | $102K | $242K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Nado MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
Lighter MSFT
edgeX MSFTUSDC