Spread before costs (cost unknown: a leg has no order-book sample)−0.018%
7d average—if it closes, per $10,000$2funding while held, a day+$3.12
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSFT-PERP-INTX | 497.71 | −0.0056 | get 0.0007% / 1h | 20m 28s | $683K | $363K | 10x |
| Short | Phoenix MSFT | 497.62 | 0.0048 | get 0.0006% / 1h | 20m 28s | $10K | $15K | 20x |
Coinbase International MSFT-PERP-INTX
Phoenix MSFTPrice 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
- −$1.81
- Funding while held
- $3.12
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$15.69
- Spread needed to break even
- 0.170%
Slippage unknown: Coinbase International: live order book, 14 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0104%
- Per $10,000 a day
- +$3.12
- 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 Coinbase International live order book, 14 min ago | 1.21 bp | 7.3 bp −$7 | 10.2 bp −$102 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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.Ondo Perps497.56cheapestApeX Omni497.61+0.010%
Ondo Perps
ApeX OmniPhoenix497.62+0.012%
Hotstuff497.70+0.028%
HotstuffCoinbase International497.71+0.030%
Polymarket Perps497.72+0.032%Nado497.75+0.039%tradeXYZ497.76+0.040%KuCoin497.79+0.046%Gate497.80+0.048%Vest497.91+0.070%HTX497.92+0.072%Deribit497.98+0.084%Lighter RH498.00+0.088%SoDEX498.02+0.092%Paradex498.05+0.099%Orderly498.06+0.100%Aster498.06+0.101%Bybit498.07+0.103%OKX498.07+0.103%QFEX498.07+0.103%Variational Omni498.07+0.103%Bitget498.08+0.105%BloFin498.08+0.105%Arcus498.10+0.109%Aevo498.11+0.111%Extended498.12+0.113%Lighter498.15+0.119%Binance498.16+0.121%Phemex498.28+0.145%edgeX498.48+0.184%Injective498.59+0.207%SunX498.85+0.259%
Polymarket Perps
Nado
tradeXYZ
KuCoin
Gate
Vest
HTX
Deribit
Lighter RH
SoDEX
Paradex
Orderly
Aster
Bybit
OKX
QFEX
Variational Omni
Bitget
BloFin
Arcus
Aevo
Extended
Lighter
Binance
Phemex
Injective
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Ondo Perps MSFT-USD.P | −0.030% | +0.0050% | 1h | $509K | $451K | 15x | as long as short |
| ApeX Omni MSFTUSDT | −0.020% | +0.0100% | 1h | $158K | $7K | 50x | as long as short |
| Phoenix MSFTshort | −0.018% | +0.0048% | 1h | $10K | $15K | 20x | |
| Hotstuff MSFT-PERP | −0.002% | −0.0152% | 1h | $40K | — | 20x | as long as short |
| Coinbase International MSFT-PERP-INTXlong | 0.000% | −0.0056% | 1h | $683K | $363K | 10x | |
| Polymarket Perps MSFT-USD | +0.002% | +0.0050% | 1h | $301K | $444K | 10x | as long as short |
| Nado MSFT-PERP | +0.009% | −0.0001% | 1h | $446K | $24K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.010% | +0.0050% | 1h | $22.1M | $8.8M | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.016% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| Gate MSFT_USDT | +0.018% | 0.0000% | 8h | $3.0M | $1.4M | 100x | as long as short |