Funding you earn now, next payment 08:00 UTC+0.0267%/8h= +29.2% APRpaid last 24h +0.003%
Price spread now: Deribit against Bybit+0.014%45s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSFTUSDT | 503.52 | 0 | get 0.0000% / 8h | 36m 34s | $7.3M | $2.2M | 100x |
| Short | Deribit MSFT_USDC-PERPETUAL | 503.59 | 0.0267 | get 0.0033% / 1h | 36m 34s | $27K | $44K | 10x |
Bybit MSFTUSDT
Deribit MSFT_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bybit. 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
- $55.98
- Price spread: +0.014% → 0.000%
- $1.39
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $39.37
- Costs to cover
- 0.180%
- Break-even
- 2.1 days
Slippage unknown: Bybit: live order book, 1 min ago; Deribit: 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 Bybit live order book, 1 min ago | 1.09 bp | 11.4 bp −$11 | 18.0 bp −$180 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0470% | 4h | 503.71 | +0.037% | $102K | $243K | 10x | as long as short |
| Nado MSFT-PERP | −0.0020% | 1h | 503.42 | −0.020% | $414K | $67K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.73 | +0.042% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.62 | +0.020% | $338K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.76 | +0.048% | $15.8M | $19.1M | 20x | as long as short |
| Bybit MSFTUSDTlong | 0.0000% | 8h | 503.52 | long leg | $7.3M | $2.2M | 100x | |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.80 | +0.056% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.26 | −0.052% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.65 | +0.026% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.60 | +0.015% | $1.3M | $414K | — | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.78 | +0.051% | $19K | $324K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.54 | +0.203% | $6K | $3.8M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 502.97 | −0.109% | $682K | $454K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.65 | +0.026% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.88 | +0.071% | $2.2M | $820K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0012% | 8h | 503.79 | +0.054% | $190K | $206K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.65 | +0.026% | $1.2M | $532K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.53 | +0.002% | $707K | $1.9M | 20x | as long as short |
| QFEX MSFT-USD | +0.0037% | 1h | 503.63 | +0.022% | $1.2M | $4.6M | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 503.27 | −0.050% | $32K | $8K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.47 | −0.010% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.74 | +0.044% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.26 | −0.052% | $22.4M | $8.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.44 | −0.016% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.55 | +0.006% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.32 | −0.040% | $513K | $428K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 503.62 | +0.019% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.47 | −0.010% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.12 | −0.079% | $1.6M | $63K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.18 | −0.068% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.63 | +0.022% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.64 | +0.024% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.82 | +0.258% | $116K | $45K | 30x | as long as short |
| Deribit MSFT_USDC-PERPETUALshort | +0.0267% | 1h | 503.59 | +0.014% | $27K | $44K | 10x |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
QFEX MSFT-USD
Hotstuff MSFT-PERP
Arcus MSFT-USD
Vest MSFT-USD-PERP
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
Aevo MSFT-PERP
Injective MSFT/USDC PERP