Spread before costs (cost unknown: a leg has no order-book sample)+0.079%
7d average+0.114%if it closes, per $10,000$8funding while held, a day+$0.48
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSFT-PERP-INTX | 495.20 | −0.0016 | get 0.0002% / 1h | 43m 20s | $666K | $327K | 10x |
| Short | Variational Omni MSFT | 495.59 | 0 | get 0.0000% / 8h | 1h 43m | $1.3M | $649K | — |
Coinbase International MSFT-PERP-INTX
Variational Omni 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
- $7.95
- Funding while held
- $0.48
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$1.57
- Spread needed to break even
- 0.100%
Slippage unknown: Coinbase International: live order book, 11 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0016%
- Per $10,000 a day
- +$0.48
- 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, 11 min ago | 3.43 bp | 8.4 bp −$8 | 11.9 bp −$119 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 2 min ago | 2.53 bp | doesn't fit | 15.1 bp −$151 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.KuCoin494.21cheapestHotstuff494.23+0.004%ApeX Omni494.26+0.010%Phoenix494.26+0.010%Ondo Perps494.30+0.018%tradeXYZ494.37+0.032%Polymarket Perps494.41+0.040%Vest494.43+0.045%Lighter RH494.45+0.049%Paradex494.50+0.058%Nado494.53+0.064%Lighter494.60+0.079%HTX494.65+0.089%Gate494.67+0.093%Arcus494.68+0.095%QFEX494.77+0.113%Bybit494.80+0.119%Deribit494.82+0.123%Orderly494.83+0.125%Aster494.84+0.127%Aevo494.86+0.132%Bitget494.88+0.136%Extended494.89+0.137%OKX494.93+0.146%Binance494.95+0.150%SoDEX495.01+0.162%edgeX495.03+0.165%BloFin495.08+0.176%Injective495.17+0.194%
KuCoin
Hotstuff
ApeX Omni
Phoenix
Ondo Perps
tradeXYZ
Polymarket Perps
Vest
Lighter RH
Paradex
Nado
Lighter
HTX
Gate
Arcus
QFEX
Bybit
Deribit
Orderly
Aster
Aevo
Bitget
Extended
OKX
Binance
SoDEX
BloFin
InjectiveCoinbase International495.20+0.200%
Phemex495.30+0.221%
PhemexVariational Omni495.59+0.280%
SunX496.05+0.372%
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.200% | +0.0100% | 8h | $1.5M | $6K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.196% | −0.1600% | 1h | $40K | — | 20x | as long as short |
| ApeX Omni MSFTUSDT | −0.190% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Phoenix MSFT | −0.190% | +0.0016% | 1h | $10K | $15K | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.182% | +0.0050% | 1h | $538K | $367K | 15x | as long as short |
| tradeXYZ xyz:MSFT | −0.168% | +0.0050% | 1h | $23.2M | $5.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.160% | +0.0050% | 1h | $292K | $408K | 10x | as long as short |
| Vest MSFT-USD-PERP | −0.155% | +0.0046% | 1h | — | — | 25x | as long as short |
| Lighter RH MSFT | −0.151% | +0.0032% | 1h | $694K | $2.1M | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.142% | +0.0052% | 8h | $218 | — | 5x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.136% | −0.0022% | 1h | $459K | $3K | 20x | as long as short |
| Lighter MSFT | −0.121% | +0.0032% | 1h | $1.1M | $512K | 20x | as long as short |
| HTX MSFT-USDT | −0.111% | 0.0000% | 8h | $58K | $229K | 20x | as long as short |
| Gate MSFT_USDT | −0.107% | 0.0000% | 8h | $3.1M | $943K | 100x | as long as short |
| Arcus MSFT-USD | −0.105% | +0.0151% | 1h | $112K | $49K | 10x | as long as short |
| QFEX MSFT-USD | −0.087% | +0.0038% | 1h | $1.1M | $3.1M | 10x | as long as short |
| Bybit MSFTUSDT | −0.081% | 0.0000% | 8h | $7.2M | $916K | 100x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.077% | +0.0134% | 1h | $27K | $97K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.075% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Aster MSFTUSDT | −0.073% | 0.0000% | 8h | $153K | $57K | 20x | as long as short |
| Aevo MSFT-PERP | −0.069% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Bitget MSFTUSDT | −0.065% | 0.0000% | 8h | $3.8M | $1.5M | 100x | as long as short |
| Extended MSFT_24_5-USD | −0.063% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| OKX MSFT-USDT-SWAP | −0.055% | 0.0000% | 8h | $3.0M | $863K | 20x | as long as short |
| Binance MSFTUSDT | −0.050% | 0.0000% | 8h | $15.7M | $11.6M | 20x | as long as short |
| SoDEX MSFT-USD | −0.038% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| edgeX MSFTUSDC | −0.035% | +0.0018% | 4h | $101K | $245K | 10x | as long as short |
| BloFin MSFT-USDT | −0.024% | +0.0019% | 8h | $191K | $119K | 20x | as long as short |
| Injective MSFT/USDC PERP | −0.006% | +0.0220% | 1h | $113K | $140K | 30x | as long as short |
| Coinbase International MSFT-PERP-INTXlong | 0.000% | −0.0016% | 1h | $666K | $327K | 10x | |
| Phemex MSFTUSDT | +0.020% | 0.0000% | 8h | $2.1M | $403K | 10x | as long as short |
| Variational Omni MSFTshort | +0.079% | 0.0000% | 8h | $1.3M | $649K | — | |
| SunX MSFT-USDT | +0.172% | 0.0000% | 8h | $6K | $3.4M | 20x | as long as short |