After costs, if the gap returns to its 7d average, $10k−$76
spread now+0.054%7d average+0.035%fees + slippage, in and out−$78spread needed0.784%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance MSFTUSDT | 496.54 | 0 | get 0.0000% / 8h | 6h 53m | $15.7M | $15.4M | 20x |
| Short | Phemex MSFTUSDT | 496.81 | 0 | get 0.0000% / 8h | 6h 53m | $2.1M | $587K | 10x |
Binance MSFTUSDT
Phemex MSFTUSDTPrice 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
- $5.44
- Funding while held
- $0
- Slippage, 4 orders
- −$56.37
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$72.93
- Spread needed to break even
- 0.784%
Slippage from Binance: live order book, 3 min ago; Phemex: live order book, 1 min ago.
Cost of waiting
funding view- Funding /8h
- 0.0000%
- Per $10,000 a day
- +$0.00
- 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, 3 min ago | 0.10 bp | 6.1 bp −$6 | 9.3 bp −$93 | 29.1 bp −$2,912 | doesn't fit |
| Sell Phemex live order book, 1 min ago | 0.10 bp | 34.5 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Ondo Perps496.15cheapestCoinbase International496.17+0.004%Polymarket Perps496.25+0.020%tradeXYZ496.27+0.024%Gate496.27+0.024%Hotstuff496.33+0.036%Nado496.35+0.040%HTX496.39+0.048%Variational Omni496.42+0.054%Lighter RH496.43+0.056%SoDEX496.43+0.056%KuCoin496.45+0.060%Vest496.45+0.060%Deribit496.45+0.060%Orderly496.50+0.071%Bybit496.51+0.073%Aevo496.53+0.077%
Ondo Perps
Coinbase International
Polymarket Perps
tradeXYZ
Gate
Hotstuff
Nado
HTX
Variational Omni
Lighter RH
SoDEX
KuCoin
Vest
Deribit
Orderly
Bybit
AevoBinance496.54+0.079%
Paradex496.54+0.079%Extended496.56+0.083%Arcus496.57+0.085%Phoenix496.58+0.087%OKX496.59+0.089%QFEX496.59+0.089%Bitget496.59+0.089%BloFin496.59+0.089%edgeX496.59+0.089%Lighter496.64+0.099%ApeX Omni496.67+0.105%Injective496.71+0.113%Aster496.74+0.119%
Paradex
Extended
Arcus
Phoenix
OKX
QFEX
Bitget
BloFin
Lighter
ApeX Omni
Injective
AsterPhemex496.81+0.133%
SunX497.27+0.226%
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Ondo Perps MSFT-USD.P | −0.079% | +0.0050% | 1h | $502K | $438K | 15x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.075% | −0.0056% | 1h | $668K | $343K | 10x | as long as short |
| Polymarket Perps MSFT-USD | −0.058% | +0.0050% | 1h | $301K | $443K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.054% | +0.0050% | 1h | $22.1M | $7.8M | 20x | as long as short |
| Gate MSFT_USDT | −0.054% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| Hotstuff MSFT-PERP | −0.042% | +0.0040% | 1h | $40K | — | 20x | as long as short |
| Nado MSFT-PERP | −0.039% | −0.0007% | 1h | $461K | $5K | 20x | as long as short |
| HTX MSFT-USDT | −0.030% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| Variational Omni MSFT | −0.025% | 0.0000% | 8h | $1.3M | $715K | — | as long as short |
| Lighter RH MSFT | −0.022% | +0.0032% | 1h | $666K | $2.1M | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| SoDEX MSFT-USD | −0.022% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.018% | +0.0100% | 8h | $1.5M | $9K | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.018% | +0.0046% | 1h | — | — | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.018% | 0.0000% | 1h | $27K | $113K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.008% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Bybit MSFTUSDT | −0.006% | 0.0000% | 8h | $7.3M | $1.4M | 100x | as long as short |
| Aevo MSFT-PERP | −0.001% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| Binance MSFTUSDTlong | 0.000% | 0.0000% | 8h | $15.7M | $15.4M | 20x | |
| Paradex MSFT-USD-PERP | +0.001% | +0.0050% | 8h | $218 | — | 5x | as long as short |
| Extended MSFT_24_5-USD | +0.004% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| Arcus MSFT-USD | +0.006% | +0.0577% | 1h | $112K | $52K | 10x | as long as short |
| Phoenix MSFT | +0.008% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | +0.010% | 0.0000% | 8h | $3.0M | $1.7M | 20x | as long as short |
| QFEX MSFT-USD | +0.010% | +0.0028% | 1h | $1.2M | $4.3M | 10x | as long as short |
| Bitget MSFTUSDT | +0.010% | 0.0000% | 8h | $3.7M | $1.7M | 100x | as long as short |
| BloFin MSFT-USDT | +0.010% | −0.0014% | 8h | $190K | $172K | 20x | as long as short |
| edgeX MSFTUSDC | +0.010% | +0.0943% | 4h | $101K | $243K | 10x | as long as short |
| Lighter MSFT | +0.020% | +0.0032% | 1h | $1.1M | $540K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.026% | +0.0100% | 1h | $158K | $7K | 50x | as long as short |
| Injective MSFT/USDC PERP | +0.034% | +0.0220% | 1h | $114K | $125K | 30x | as long as short |
| Aster MSFTUSDT | +0.040% | 0.0000% | 8h | $156K | $80K | 20x | as long as short |
| Phemex MSFTUSDTshort | +0.054% | 0.0000% | 8h | $2.1M | $587K | 10x | |
| SunX MSFT-USDT | +0.147% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |