Spread before costs (cost unknown: a leg has no order-book sample)−0.001%
7d average—if it closes, per $10,000$0funding while held, a day+$1.50
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit MSFTUSDT | 499.53 | 0 | get 0.0000% / 8h | 5h 49m | $7.3M | $1.5M | 100x |
| Short | Paradex MSFT-USD-PERP | 499.53 | 0.0050 | get 0.0050% / 8h | 5h 49m | $220 | — | 5x |
Bybit MSFTUSDT
Paradex MSFT-USD-PERPPrice 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
- −$0.09
- Funding while held
- $1.5
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$13.59
- Spread needed to break even
- 0.150%
Slippage unknown: Bybit: live order book, 5 min ago; Paradex: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0050%
- Per $10,000 a day
- +$1.50
- 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, 5 min ago | 1.10 bp | 9.7 bp −$10 | 15.4 bp −$154 | doesn't fit | doesn't fit |
| Sell Paradex no order-book sample | — | — | — | — | — |
Paradex: 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.KuCoin498.96cheapestCoinbase International499.03+0.014%Hotstuff499.09+0.026%Polymarket Perps499.14+0.036%Ondo Perps499.18+0.044%tradeXYZ499.20+0.048%Gate499.23+0.054%Variational Omni499.24+0.056%edgeX499.24+0.057%Aster499.32+0.073%ApeX Omni499.33+0.074%Deribit499.34+0.076%Nado499.35+0.078%Lighter RH499.42+0.092%Phoenix499.49+0.106%SoDEX499.49+0.106%Vest499.50+0.108%HTX499.50+0.108%Binance499.52+0.112%
KuCoin
Coinbase International
Hotstuff
Polymarket Perps
Ondo Perps
tradeXYZ
Gate
Variational Omni
Aster
ApeX Omni
Deribit
Nado
Lighter RH
Phoenix
SoDEX
Vest
HTX
BinanceParadex499.53+0.113%
Bybit499.53+0.114%
OKX499.53+0.114%Extended499.53+0.115%Bitget499.55+0.118%Orderly499.56+0.120%Arcus499.58+0.124%Aevo499.59+0.126%QFEX499.59+0.126%BloFin499.62+0.132%Lighter499.66+0.140%Phemex499.67+0.142%Injective500.11+0.230%SunX500.34+0.277%
OKX
Extended
Bitget
Orderly
Arcus
Aevo
QFEX
BloFin
Lighter
Phemex
Injective
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.114% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.100% | −0.0056% | 1h | $678K | $355K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.088% | +0.0112% | 1h | $40K | — | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.078% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.070% | +0.0050% | 1h | $510K | $451K | 15x | as long as short |
| tradeXYZ xyz:MSFT | −0.066% | +0.0050% | 1h | $21.8M | $8.6M | 20x | as long as short |
| Gate MSFT_USDT | −0.060% | 0.0000% | 8h | $3.1M | $1.4M | 100x | as long as short |
| Variational Omni MSFT | −0.059% | 0.0000% | 8h | $1.3M | $717K | — | as long as short |
| edgeX MSFTUSDC | −0.058% | −0.0722% | 4h | $102K | $244K | 10x | as long as short |
| Aster MSFTUSDT | −0.041% | 0.0000% | 8h | $157K | $80K | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSFTUSDT | −0.040% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.038% | 0.0000% | 1h | $27K | $114K | 10x | as long as short |
| Nado MSFT-PERP | −0.037% | −0.0023% | 1h | $448K | $24K | 20x | as long as short |
| Lighter RH MSFT | −0.022% | +0.0032% | 1h | $661K | $2.1M | 20x | as long as short |
| Phoenix MSFT | −0.008% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| SoDEX MSFT-USD | −0.008% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| Vest MSFT-USD-PERP | −0.006% | +0.0046% | 1h | — | — | 25x | as long as short |
| HTX MSFT-USDT | −0.006% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Binance MSFTUSDT | −0.002% | 0.0000% | 8h | $15.6M | $16.7M | 20x | as long as short |
| Paradex MSFT-USD-PERPshort | −0.001% | +0.0050% | 8h | $220 | — | 5x | |
| Bybit MSFTUSDTlong | 0.000% | 0.0000% | 8h | $7.3M | $1.5M | 100x | |
| OKX MSFT-USDT-SWAP | 0.000% | 0.0000% | 8h | $3.1M | $2.1M | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.000% | 0.0000% | 1h | $372K | $410K | 17x | as long as short |
| Bitget MSFTUSDT | +0.004% | +0.0005% | 8h | $3.7M | $1.7M | 100x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.006% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Arcus MSFT-USD | +0.010% | +0.0573% | 1h | $111K | $75K | 10x | as long as short |
| Aevo MSFT-PERP | +0.011% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| QFEX MSFT-USD | +0.012% | +0.0044% | 1h | $1.2M | $4.6M | 10x | as long as short |
| BloFin MSFT-USDT | +0.018% | +0.0020% | 8h | $193K | $186K | 20x | as long as short |
| Lighter MSFT | +0.026% | +0.0072% | 1h | $1.1M | $537K | 20x | as long as short |
| Phemex MSFTUSDT | +0.028% | 0.0000% | 8h | $2.1M | $644K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.116% | +0.0220% | 1h | $115K | $88K | 30x | as long as short |
| SunX MSFT-USDT | +0.162% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |