Funding you earn now, next payment 23:00 UTC+0.0237%/8h= +25.9% APRpaid last 24h +0.054%
Price spread now: Injective against BloFin+0.219%7-day average −0.071% · you sell dearer than you buy
Net, funding: paid 7d − costs+$3as in the Funding arb table
Net, price: spread back to 7d avg − costs−$9as in the Price arb table
costs, in and out, $10k−$380.378% of the position
Funding, last 7 days+0.407%+$41 on $10k
+Price spread, last 3 days (all we have)−0.238%−$24 · spread now +0.219%, 7d avg −0.071%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.291% dearer against BloFin than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.071%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin MSFT-USDT | 502.07 | −0.0017 | get 0.0017% / 8h | 1h 45m | $188K | $210K | 20x |
| Short | Injective MSFT/USDC PERP | 503.17 | 0.0220 | get 0.0028% / 1h | 45m 37s | $115K | $45K | 30x |
BloFin MSFT-USDT
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against BloFin. 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
- $49.7
- Price spread: +0.219% → −0.071%
- $29.05
- Slippage, 4 orders
- −$25.75
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $40.98
- Costs to cover
- 0.378%
- Break-even
- 1.2 days
Slippage from BloFin: live order book, 29 min ago; Injective: live order book, 38 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 BloFin live order book, 29 min ago | 0.80 bp | 9.0 bp −$9 | 12.3 bp −$123 | 27.9 bp −$2,788 | doesn't fit |
| Sell Injective live order book, 38 min ago | 10.07 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERP | −0.0056% | 1h | 501.60 | −0.094% | $32K | $8K | 20x | as long as short |
| BloFin MSFT-USDTlong | −0.0017% | 8h | 502.07 | long leg | $188K | $210K | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 502.01 | −0.012% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 502.03 | −0.008% | $372K | $369K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.15 | +0.017% | $15.7M | $19.3M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.14 | +0.014% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.85 | −0.044% | $3.1M | $1.5M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 502.18 | +0.022% | $3.8M | $2.2M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 502.15 | +0.016% | $1.3M | $710K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.11 | +0.008% | $19K | $321K | 10x | as long as short |
Hotstuff MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 502.83 | +0.151% | $6K | $4.4M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.65 | −0.084% | $27K | $104K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 501.58 | −0.098% | $688K | $449K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.94 | −0.026% | $59K | $229K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.27 | +0.040% | $2.2M | $769K | 10x | as long as short |
| Bybit MSFTUSDT | +0.0007% | 8h | 502.14 | +0.014% | $7.4M | $1.7M | 100x | as long as short |
| Nado MSFT-PERP | +0.0016% | 1h | 501.59 | −0.095% | $414K | $64K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.87 | −0.040% | $653K | $2.1M | 20x | as long as short |
| QFEX MSFT-USD | +0.0040% | 1h | 502.04 | −0.006% | $1.2M | $5.8M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.91 | −0.032% | — | — | 25x | as long as short |
| edgeX MSFTUSDC | +0.0050% | 4h | 502.06 | −0.002% | $102K | $244K | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.61 | −0.092% | $22.3M | $10.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.63 | −0.088% | $305K | $684K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.01 | −0.012% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.64 | −0.086% | $529K | $494K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 501.90 | −0.034% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.75 | −0.064% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.57 | −0.100% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.51 | −0.112% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.98 | −0.018% | $8K | — | 10x | as long as short |
| Lighter MSFT | +0.0104% | 1h | 502.03 | −0.008% | $1.1M | $589K | 20x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 502.03 | −0.008% | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | +0.0200% | 1h | 501.91 | −0.032% | $110K | $90K | 10x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 503.17 | +0.219% | $115K | $45K | 30x |
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
Bybit MSFTUSDT
Nado MSFT-PERP
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
edgeX MSFTUSDC
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Lighter MSFT
Aevo MSFT-PERP
Arcus MSFT-USD