MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.014%

Price spread now: Phemex against BloFin+0.093%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$810.807% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now +0.093%, 7d avg +0.027%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.066% dearer against BloFin than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of +0.027%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin MSFT-USDT	504.27	0.0018	pay 0.0018% / 8h	2h 10m	$189K	$207K	20x
Short	Phemex MSFTUSDT	504.74	0	get 0.0000% / 8h	2h 10m	$2.2M	$814K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee PhemexbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$3.82
Price spread: +0.093% → +0.027%: $6.58
Slippage, 4 orders: −$56.7
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$77.94
Costs to cover: 0.807%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Phemex: live order book, 3 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, 5 min ago	0.10 bp	6.2 bp −$6	10.1 bp −$101	24.3 bp −$2,432	doesn't fit
Sell Phemex live order book, 3 min ago	0.40 bp	32.4 bp −$32	doesn't fit	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	−0.0096%	1h	503.91	−0.071%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.76	−0.101%	$684K	$493K	10x	as long as short
Nado MSFT-PERP	−0.0021%	1h	504.09	−0.036%	$415K	$68K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.08	−0.038%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.05	−0.044%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.19	−0.016%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.07	−0.040%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.54	+0.054%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.15	−0.024%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.28	+0.002%	$3.8M	$3.0M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	504.27	0.000%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.36	+0.018%	$18K	$323K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.04	+0.153%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.10	−0.034%	$59K	$226K	20x	as long as short
Phemex MSFTUSDTshort	0.0000%	8h	504.74	+0.093%	$2.2M	$814K	10x
Phoenix MSFT	+0.0016%	1h	504.07	−0.040%	$11K	$15K	20x	as long as short
BloFin MSFT-USDTlong	+0.0018%	8h	504.27	long leg	$189K	$207K	20x
Lighter RH MSFT	+0.0032%	1h	504.00	−0.054%	$690K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.30	+0.006%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.11	−0.032%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.31	+0.008%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.88	−0.077%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.04	−0.046%	$304K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.14	−0.026%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.97	−0.059%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	504.33	+0.011%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.27	0.000%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.72	−0.109%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.73	−0.107%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.15	−0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.22	−0.009%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.42	+0.030%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0226%	1h	504.16	−0.022%	$27K	$43K	10x	as long as short
edgeX MSFTUSDC	+0.0400%	4h	504.30	+0.007%	$103K	$242K	10x	as long as short