After costs, if the gap returns to its 7d average, $10k−$39
spread now+0.085%7d average+0.150%fees + slippage, in and out−$33spread needed0.329%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MSFTUSDT | 494.75 | 0 | get 0.0000% / 8h | 1h 35m | $15.7M | $11.8M | 20x |
| Short | Injective MSFT/USDC PERP | 495.17 | 0.0220 | get 0.0028% / 1h | 35m 25s | $158K | $140K | 30x |
Binance MSFTUSDT
Injective MSFT/USDC PERPPrice 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
- $8.49
- Funding while held
- $6.6
- Slippage, 4 orders
- −$22.87
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$17.8
- Spread needed to break even
- 0.329%
Slippage from Binance: live order book, 7 min ago; Injective: live order book, 20 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0220%
- Per $10,000 a day
- +$6.60
- 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 Binance live order book, 7 min ago | 0.10 bp | 5.9 bp −$6 | 9.8 bp −$98 | 41.4 bp −$4,141 | doesn't fit |
| Sell Injective live order book, 20 min ago | 9.98 bp | 10.0 bp −$10 | 10.0 bp −$100 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.tradeXYZ494.18cheapestKuCoin494.22+0.008%Polymarket Perps494.24+0.012%Hotstuff494.31+0.026%Vest494.33+0.030%Deribit494.38+0.040%Ondo Perps494.45+0.055%ApeX Omni494.45+0.055%Phoenix494.48+0.061%Gate494.50+0.065%Nado494.50+0.065%Extended494.52+0.069%Orderly494.53+0.071%Lighter RH494.57+0.079%SoDEX494.59+0.083%Arcus494.60+0.085%Paradex494.60+0.086%Aevo494.62+0.088%Bybit494.63+0.091%QFEX494.69+0.103%Bitget494.69+0.103%Aster494.74+0.113%
tradeXYZ
KuCoin
Polymarket Perps
Hotstuff
Vest
Deribit
Ondo Perps
ApeX Omni
Phoenix
Gate
Nado
Extended
Orderly
Lighter RH
SoDEX
Arcus
Paradex
Aevo
Bybit
QFEX
Bitget
AsterBinance494.75+0.115%
edgeX494.75+0.116%Lighter494.79+0.123%Variational Omni494.86+0.138%HTX494.95+0.156%OKX495.01+0.168%BloFin495.08+0.182%
Lighter
Variational Omni
HTX
OKX
BloFinInjective495.17+0.200%
Coinbase International495.20+0.206%Phemex495.26+0.219%SunX495.64+0.295%
Coinbase International
Phemex
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:MSFT | −0.115% | +0.0050% | 1h | $23.2M | $5.9M | 20x | as long as short |
| KuCoin MSFTUSDTM | −0.107% | +0.0100% | 8h | $1.5M | $6K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.103% | +0.0050% | 1h | $292K | $411K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.089% | −0.1584% | 1h | $40K | — | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.085% | +0.0046% | 1h | — | — | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.075% | 0.0000% | 1h | $27K | $97K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.061% | +0.0050% | 1h | $539K | $369K | 15x | as long as short |
| ApeX Omni MSFTUSDT | −0.061% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Phoenix MSFT | −0.055% | +0.0016% | 1h | $10K | $15K | 20x | as long as short |
| Gate MSFT_USDT | −0.051% | 0.0000% | 8h | $3.1M | $956K | 100x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.050% | −0.0017% | 1h | $459K | $3K | 20x | as long as short |
| Extended MSFT_24_5-USD | −0.047% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.044% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Lighter RH MSFT | −0.036% | +0.0032% | 1h | $693K | $2.1M | 20x | as long as short |
| SoDEX MSFT-USD | −0.032% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Arcus MSFT-USD | −0.030% | +0.0151% | 1h | $112K | $49K | 10x | as long as short |
| Paradex MSFT-USD-PERP | −0.029% | +0.0053% | 8h | $218 | — | 5x | as long as short |
| Aevo MSFT-PERP | −0.027% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Bybit MSFTUSDT | −0.024% | 0.0000% | 8h | $7.2M | $924K | 100x | as long as short |
| QFEX MSFT-USD | −0.012% | +0.0038% | 1h | $1.1M | $3.1M | 10x | as long as short |
| Bitget MSFTUSDT | −0.012% | 0.0000% | 8h | $3.8M | $1.5M | 100x | as long as short |
| Aster MSFTUSDT | −0.002% | 0.0000% | 8h | $153K | $57K | 20x | as long as short |
| Binance MSFTUSDTlong | 0.000% | 0.0000% | 8h | $15.7M | $11.8M | 20x | |
| edgeX MSFTUSDC | 0.000% | −0.0010% | 4h | $101K | $244K | 10x | as long as short |
| Lighter MSFT | +0.008% | +0.0032% | 1h | $1.1M | $522K | 20x | as long as short |
| Variational Omni MSFT | +0.023% | 0.0000% | 8h | $1.3M | $652K | — | as long as short |
| HTX MSFT-USDT | +0.040% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | +0.053% | 0.0000% | 8h | $3.0M | $883K | 20x | as long as short |
| BloFin MSFT-USDT | +0.067% | −0.0019% | 8h | $191K | $122K | 20x | as long as short |
| Injective MSFT/USDC PERPshort | +0.085% | +0.0220% | 1h | $158K | $140K | 30x | |
| Coinbase International MSFT-PERP-INTX | +0.091% | −0.0016% | 1h | $666K | $327K | 10x | as long as short |
| Phemex MSFTUSDT | +0.103% | 0.0000% | 8h | $2.1M | $416K | 10x | as long as short |
| SunX MSFT-USDT | +0.180% | 0.0000% | 8h | $6K | $3.4M | 20x | as long as short |