Funding you earn now, next payment 10:00 UTC−0.0111%/8h= −12.1% APRnext payment −$0.14 per $10,000 · paid last 24h −0.060%
Price spread now: Phoenix against Arcus−0.075%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.075% cheaper against Arcus than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus MSFT-USD | 504.67 | 0.0190 | pay 0.0024% / 1h | 7m 09s | $94K | $83K | 10x |
| Short | Phoenix MSFT | 504.29 | 0.0079 | get 0.0010% / 1h | 7m 09s | $11K | $5K | 20x |
Arcus MSFT-USD
Phoenix MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Arcus. 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
- −$23.28
- Price spread: −0.075% → 0.000%
- −$7.53
- Slippage, 4 orders
- no order book: not counted
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$42.31
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Arcus: no order-book sample; Phoenix: no order-book sample. Net counts fees only.
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 Arcus no order-book sample | — | — | — | — | — |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Arcus and Phoenix: 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 on 34 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERP | −0.1600% | 1h | 504.52 | −0.030% | $33K | $8K | 20x | as long as short |
| edgeX MSFTUSDC | −0.0722% | 4h | 504.77 | +0.020% | $103K | $243K | 10x | as long as short |
| Nado MSFT-PERP | −0.0035% | 1h | 504.67 | 0.000% | $412K | $72K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0018% | 8h | 504.95 | +0.055% | $203K | $222K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 505.01 | +0.067% | $166K | $118K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.81 | +0.027% | $328K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.95 | +0.055% | $16.3M | $21.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.67 | 0.000% | $7.3M | $2.4M | 100x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.68 | +0.002% | $3.1M | $2.0M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.67 | 0.000% | $4.0M | $3.1M | 100x | as long as short |
Hotstuff MSFT-PERP
edgeX MSFTUSDC
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.57 | −0.020% | $1.3M | $408K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.77 | +0.020% | $19K | $326K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.76 | +0.216% | $6K | $3.5M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 504.00 | −0.133% | $712K | $662K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.77 | +0.020% | $49K | $247K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 505.14 | +0.093% | $2.3M | $943K | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0027% | 1h | 504.71 | +0.008% | $30K | $47K | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 504.73 | +0.012% | $1.2M | $526K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 504.75 | +0.016% | $729K | $1.9M | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.91 | +0.048% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 504.63 | −0.008% | $22.4M | $9.4M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 504.62 | −0.010% | $319K | $675K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.71 | +0.008% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 504.35 | −0.063% | $530K | $408K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 504.76 | +0.017% | $222 | — | 5x | as long as short |
| OKX MSFT-USDT-SWAP | +0.0056% | 8h | 505.08 | +0.081% | $3.2M | $2.8M | 20x | as long as short |
| QFEX MSFT-USD | +0.0058% | 1h | 504.81 | +0.028% | $1.2M | $4.7M | 10x | as long as short |
| Phoenix MSFTshort | +0.0079% | 1h | 504.29 | −0.075% | $11K | $5K | 20x | |
| KuCoin MSFTUSDTM | +0.0088% | 8h | 504.36 | −0.061% | $1.6M | $270K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 504.43 | −0.048% | $161K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.79 | +0.024% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.66 | −0.001% | $56 | — | 10x | as long as short |
| Arcus MSFT-USDlong | +0.0190% | 1h | 504.67 | long leg | $94K | $83K | 10x | |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.69 | +0.004% | $116K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
Deribit MSFT_USDC-PERPETUAL
Lighter MSFT
Lighter RH MSFT
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
OKX MSFT-USDT-SWAP
QFEX MSFT-USD
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP