Spread before costs (cost unknown: a leg has no order-book sample)−0.142%
7d average−0.077%if it closes, per $10,000$14funding while held, a day+$1.51
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSFTUSDT | 494.13 | 0 | get 0.0000% / 8h | 1h 28m | $7.2M | $946K | 100x |
| Short | Ondo Perps MSFT-USD.P | 493.43 | 0.0050 | get 0.0006% / 1h | 28m 48s | $539K | $369K | 15x |
Bybit MSFTUSDT
Ondo Perps MSFT-USD.PPrice 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
- −$14.17
- Funding while held
- $1.51
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$28.65
- Spread needed to break even
- 0.160%
Slippage unknown: Bybit: live order book, 1 min ago; Ondo Perps: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0050%
- Per $10,000 a day
- +$1.51
- 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 Bybit live order book, 1 min ago | 1.11 bp | 11.0 bp −$11 | 16.1 bp −$161 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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 price on every exchange
against the cheapest. Click to use as the short leg.Polymarket Perps493.24cheapestHotstuff493.37+0.026%Vest493.37+0.026%
Polymarket Perps
Hotstuff
VestOndo Perps493.43+0.039%
Coinbase International493.47+0.047%Paradex493.50+0.052%Nado493.50+0.053%Arcus493.55+0.063%Deribit493.55+0.063%Orderly493.60+0.073%tradeXYZ493.63+0.079%QFEX493.63+0.079%Aevo493.66+0.085%SoDEX493.76+0.105%Aster493.82+0.118%KuCoin493.84+0.122%Phoenix493.86+0.126%Gate493.90+0.134%Lighter RH493.94+0.142%Extended493.95+0.144%ApeX Omni493.96+0.146%Bitget494.12+0.178%HTX494.12+0.178%
Coinbase International
Paradex
Nado
Arcus
Deribit
Orderly
tradeXYZ
QFEX
Aevo
SoDEX
Aster
KuCoin
Phoenix
Gate
Lighter RH
Extended
ApeX Omni
Bitget
HTXBybit494.13+0.180%
Binance494.22+0.199%Lighter494.23+0.201%BloFin494.24+0.203%Variational Omni494.25+0.205%OKX494.28+0.211%Phemex494.44+0.243%edgeX494.59+0.273%SunX494.70+0.296%Injective494.74+0.304%
Binance
Lighter
BloFin
Variational Omni
OKX
Phemex
SunX
InjectiveMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Polymarket Perps MSFT-USD | −0.180% | +0.0050% | 1h | $288K | $415K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.154% | −0.1296% | 1h | $40K | — | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.154% | +0.0046% | 1h | — | — | 25x | as long as short |
| Ondo Perps MSFT-USD.Pshort | −0.142% | +0.0050% | 1h | $539K | $369K | 15x | |
| Coinbase International MSFT-PERP-INTX | −0.134% | −0.0016% | 1h | $662K | $328K | 10x | as long as short |
| Paradex MSFT-USD-PERP | −0.128% | +0.0052% | 8h | $217 | — | 5x | as long as short |
| Nado MSFT-PERP | −0.127% | −0.0017% | 1h | $458K | $3K | 20x | as long as short |
| Arcus MSFT-USD | −0.117% | +0.0151% | 1h | $112K | $49K | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.117% | 0.0000% | 1h | $27K | $98K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.107% | +0.0100% | 8h | $8K | — | 10x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:MSFT | −0.101% | +0.0050% | 1h | $23.2M | $5.9M | 20x | as long as short |
| QFEX MSFT-USD | −0.101% | +0.0038% | 1h | $1.1M | $3.2M | 10x | as long as short |
| Aevo MSFT-PERP | −0.095% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| SoDEX MSFT-USD | −0.075% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Aster MSFTUSDT | −0.062% | 0.0000% | 8h | $153K | $63K | 20x | as long as short |
| KuCoin MSFTUSDTM | −0.059% | +0.0100% | 8h | $1.5M | $6K | 20x | as long as short |
| Phoenix MSFT | −0.055% | +0.0016% | 1h | $10K | $15K | 20x | as long as short |
| Gate MSFT_USDT | −0.047% | 0.0000% | 8h | $3.0M | $974K | 100x | as long as short |
| Lighter RH MSFT | −0.038% | +0.0032% | 1h | $686K | $2.1M | 20x | as long as short |
| Extended MSFT_24_5-USD | −0.036% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| ApeX Omni MSFTUSDT | −0.034% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Bitget MSFTUSDT | −0.002% | 0.0000% | 8h | $3.8M | $1.5M | 100x | as long as short |
| HTX MSFT-USDT | −0.002% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Bybit MSFTUSDTlong | 0.000% | 0.0000% | 8h | $7.2M | $946K | 100x | |
| Binance MSFTUSDT | +0.018% | 0.0000% | 8h | $15.7M | $12.1M | 20x | as long as short |
| Lighter MSFT | +0.020% | +0.0040% | 1h | $1.1M | $523K | 20x | as long as short |
| BloFin MSFT-USDT | +0.022% | +0.0001% | 8h | $191K | $125K | 20x | as long as short |
| Variational Omni MSFT | +0.024% | 0.0000% | 8h | $1.3M | $665K | — | as long as short |
| OKX MSFT-USDT-SWAP | +0.030% | 0.0000% | 8h | $3.0M | $895K | 20x | as long as short |
| Phemex MSFTUSDT | +0.063% | 0.0000% | 8h | $2.1M | $425K | 10x | as long as short |
| edgeX MSFTUSDC | +0.092% | −0.0989% | 4h | $101K | $245K | 10x | as long as short |
| SunX MSFT-USDT | +0.115% | 0.0000% | 8h | $6K | $3.5M | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.123% | +0.0220% | 1h | $113K | $184K | 30x | as long as short |