data as of
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Price arb /

MSFT

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Spread before costs (cost unknown: a leg has no order-book sample)+0.270%
7d average+0.070%if it closes, per $10,000$27funding while held, a day−$3.00
Long on ApeX OmniShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni MSFTUSDT494.260.0100pay 0.0013% / 1h41m 42s$157K$7K50x
ShortVariational Omni MSFT495.590get 0.0000% / 8h1h 41m$1.3M$649K—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$26.98
Funding while held
−$3
Slippage, 4 orders
no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Variational Omni: 0 bp × 2 orders
$0
Net
$13.98
Spread needed to break even
0.100%
Slippage unknown: ApeX Omni: live order book, 11 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0100%
Per $10,000 a day
−$3.00
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 11 min ago5.14 bp10.1 bp −$1061.2 bp −$612doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 4 min ago2.53 bpdoesn't fit15.1 bp −$151doesn't fitdoesn't fit

MSFT price on every exchange

against the cheapest. Click to use as the short leg.
Hotstuff494.23cheapest
ApeX Omni494.26+0.006%
Phoenix494.26+0.006%KuCoin494.44+0.042%tradeXYZ494.52+0.059%Arcus494.69+0.093%Lighter RH494.73+0.101%Gate494.76+0.107%Paradex494.78+0.112%Extended494.81+0.117%Ondo Perps494.82+0.119%Polymarket Perps494.86+0.127%Deribit494.87+0.129%Vest494.90+0.136%Lighter494.92+0.140%Bitget494.98+0.152%Bybit495.01+0.158%Orderly495.01+0.158%edgeX495.03+0.161%Binance495.05+0.166%HTX495.08+0.172%Nado495.09+0.175%Aevo495.10+0.175%OKX495.10+0.176%SoDEX495.10+0.176%Injective495.17+0.190%Aster495.17+0.191%BloFin495.18+0.192%Coinbase International495.20+0.196%QFEX495.24+0.204%
Variational Omni495.59+0.276%
Phemex495.66+0.289%SunX496.11+0.380%

MSFT on 33 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Hotstuff MSFT-PERP−0.006%−0.1600%1h$40K—20xas long as short
ApeX Omni MSFTUSDTlong0.000%+0.0100%1h$157K$7K50x
Phoenix MSFT0.000%+0.0016%1h$10K$15K20xas long as short
KuCoin MSFTUSDTM+0.036%+0.0100%8h$1.5M$6K20xas long as short
tradeXYZ xyz:MSFT+0.053%+0.0050%1h$23.3M$5.8M20xas long as short
Arcus MSFT-USD+0.087%+0.0151%1h$112K$49K10xas long as short
Lighter RH MSFT+0.095%+0.0032%1h$694K$2.1M20xas long as short
Gate MSFT_USDT+0.101%0.0000%8h$3.1M$946K100xas long as short
Paradex MSFT-USD-PERP+0.106%+0.0052%8h$218—5xas long as short
Extended MSFT_24_5-USD+0.111%0.0000%1h$329K$380K17xas long as short
Show all 33 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Ondo Perps MSFT-USD.P+0.113%+0.0050%1h$539K$368K15xas long as short
Polymarket Perps MSFT-USD+0.121%+0.0050%1h$292K$408K10xas long as short
Deribit MSFT_USDC-PERPETUAL+0.123%0.0000%1h$27K$97K10xas long as short
Vest MSFT-USD-PERP+0.129%+0.0046%1h——25xas long as short
Lighter MSFT+0.134%+0.0032%1h$1.1M$520K20xas long as short
Bitget MSFTUSDT+0.146%0.0000%8h$3.8M$1.5M100xas long as short
Bybit MSFTUSDT+0.152%0.0000%8h$7.2M$917K100xas long as short
Orderly PERP_MSFT_USDC_mythos+0.152%+0.0100%8h$8K—10xas long as short
edgeX MSFTUSDC+0.155%+0.0018%4h$101K$245K10xas long as short
Binance MSFTUSDT+0.160%0.0000%8h$15.8M$11.6M20xas long as short
HTX MSFT-USDT+0.166%0.0000%8h$58K$229K20xas long as short
Nado MSFT-PERP+0.169%−0.0021%1h$460K$3K20xas long as short
Aevo MSFT-PERP+0.169%+0.0104%1h$54—10xas long as short
OKX MSFT-USDT-SWAP+0.170%0.0000%8h$3.0M$867K20xas long as short
SoDEX MSFT-USD+0.170%+0.0050%1h$59K$3K10xas long as short
Injective MSFT/USDC PERP+0.184%+0.0220%1h$113K$140K30xas long as short
Aster MSFTUSDT+0.185%0.0000%8h$153K$57K20xas long as short
BloFin MSFT-USDT+0.186%+0.0005%8h$191K$120K20xas long as short
Coinbase International MSFT-PERP-INTX+0.190%−0.0016%1h$666K$327K10xas long as short
QFEX MSFT-USD+0.198%+0.0038%1h$1.1M$3.1M10xas long as short
Variational Omni MSFTshort+0.270%0.0000%8h$1.3M$649K—
Phemex MSFTUSDT+0.283%0.0000%8h$2.1M$406K10xas long as short
SunX MSFT-USDT+0.374%0.0000%8h$6K$3.4M20xas long as short