MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0228%/8h= +25.0% APRnext payment +$0.29 per $10,000 · paid last 24h +0.069%

Price spread now: Injective against Coinbase International+0.174%64s7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.383% of the position

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.472%+$47 on $10k

Price spread, last 3 days (all we have)−0.172%−$17 · spread now +0.174%, 7d avg +0.063%

Together, before fees+0.300%+$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.110% dearer against Coinbase International than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.063%. The two prices were read 64 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	Coinbase International MSFT-PERP-INTX	501.13	−0.0008	get 0.0001% / 1h	25m 59s	$679K	$447K	10x
Short	Injective MSFT/USDC PERP	502.00	0.0220	get 0.0028% / 1h	25m 59s	$115K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Coinbase International. 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 Coinbase InternationalbpFee InjectivebpOrdersPrice spread, now +0.174%Rate

Funding earned: $47.88
Price spread: +0.174% → +0.063%: $11.02
Slippage, 4 orders: −$28.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $20.57
Costs to cover: 0.383%
Break-even: 4.0 days

Slippage from Coinbase International: live order book, 47 min ago; Injective: live order book, 48 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 Coinbase International live order book, 47 min ago	1.99 bp	7.8 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell Injective live order book, 48 min ago	10.76 bp	10.8 bp −$11	10.8 bp −$108	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
BloFin MSFT-USDT	−0.0012%	8h	502.17	+0.208%	$188K	$206K	20x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0008%	1h	501.13	long leg	$679K	$447K	10x
Aster MSFTUSDT	0.0000%	8h	501.89	+0.153%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.89	+0.152%	$337K	$1.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.00	+0.173%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.75	+0.124%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.08	+0.190%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.71	+0.116%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.87	+0.148%	$3.8M	$2.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.86	+0.146%	$1.3M	$690K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.88	+0.150%	$19K	$292K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.93	+0.359%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.80	+0.134%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.09	+0.192%	$2.2M	$757K	10x	as long as short
Nado MSFT-PERP	+0.0004%	1h	501.81	+0.136%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.80	+0.134%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.94	+0.162%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.92	+0.158%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.55	+0.084%	$22.3M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.58	+0.090%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.87	+0.148%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.49	+0.072%	$528K	$489K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.89	+0.151%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.86	+0.146%	$10K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	501.79	+0.132%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0096%	1h	502.03	+0.180%	$1.1M	$486K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.77	+0.128%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.66	+0.106%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.81	+0.136%	$8K	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0104%	1h	501.71	+0.116%	$32K	$8K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.83	+0.140%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.86	+0.146%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERPshort	+0.0220%	1h	502.00	+0.174%	$115K	$45K	30x
edgeX MSFTUSDC	+0.0371%	4h	502.05	+0.184%	$102K	$242K	10x	as long as short