Funding you earn now, next payment 00:00 UTC−0.0776%/8h= −84.9% APRpaid last 24h −0.064%
Price spread now: Bybit against edgeX+0.024%71s7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$54as 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−$410.412% of the position
Funding, last 7 days−0.125%−$13 on $10k
+Price spread, last 3 days (all we have)0.000%$0 · spread now +0.024%, 7d avg −0.009%
=Together, before fees−0.125%+ Points / potential airdropedgeX: Active · farm board−$13 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.034% dearer against edgeX than usual: you sell high and buy low (spread +0.024% now, against its 7-day average of −0.009%): +$3 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.125% in total) that is about 45 hours. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.125% in total (about -6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX MSFTUSDC | 502.06 | 0.0793 | pay 0.0397% / 4h | 1h 08m | $102K | $242K | 10x |
| Short | Bybit MSFTUSDT | 502.18 | 0.0018 | get 0.0018% / 8h | 1h 08m | $7.4M | $1.7M | 100x |
edgeX MSFTUSDC
Bybit MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against edgeX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$162.87
- Price spread: +0.024% → −0.009%
- $3.35
- Slippage, 4 orders
- −$21.17
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$200.69
- Costs to cover
- 0.412%
- Break-even
- never at this rate
Slippage from edgeX: live order book, 9 min ago; Bybit: live order book, 5 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 edgeX live order book, 9 min ago | 5.48 bp | 10.1 bp −$10 | 12.5 bp −$125 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 5 min ago | 1.20 bp | 11.3 bp −$11 | 16.5 bp −$165 | 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 | −0.0015% | 8h | 502.06 | +0.001% | $188K | $209K | 20x | as long as short |
| Nado MSFT-PERP | −0.0001% | 1h | 501.86 | −0.040% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.17 | +0.022% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 502.03 | −0.005% | $337K | $392K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.13 | +0.015% | $15.7M | $19.1M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.21 | +0.030% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.86 | −0.039% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 502.12 | +0.012% | $3.8M | $2.2M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 502.07 | +0.002% | $1.3M | $702K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.07 | +0.002% | $19K | $309K | 10x | as long as short |
BloFin MSFT-USDT
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 502.91 | +0.170% | $6K | $4.3M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.70 | −0.071% | $27K | $101K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 501.58 | −0.095% | $688K | $449K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.99 | −0.013% | $59K | $228K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.34 | +0.056% | $2.2M | $755K | 10x | as long as short |
| Bybit MSFTUSDTshort | +0.0018% | 8h | 502.18 | +0.024% | $7.4M | $1.7M | 100x | |
| Lighter RH MSFT | +0.0032% | 1h | 502.01 | −0.009% | $649K | $2.1M | 20x | as long as short |
| QFEX MSFT-USD | +0.0040% | 1h | 502.03 | −0.005% | $1.1M | $5.8M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.91 | −0.029% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.69 | −0.073% | $22.3M | $9.6M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.61 | −0.089% | $305K | $674K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.05 | −0.001% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.73 | −0.065% | $529K | $493K | 15x | as long as short |
| Hotstuff MSFT-PERP | +0.0056% | 1h | 501.73 | −0.065% | $32K | $8K | 20x | as long as short |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 501.99 | −0.013% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.86 | −0.039% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.64 | −0.083% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.91 | −0.029% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.98 | −0.015% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 502.03 | −0.006% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0120% | 1h | 502.09 | +0.006% | $1.1M | $590K | 20x | as long as short |
| Arcus MSFT-USD | +0.0200% | 1h | 502.00 | −0.011% | $98K | $109K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.30 | +0.048% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDClong | +0.0793% | 4h | 502.06 | long leg | $102K | $242K | 10x |
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Hotstuff MSFT-PERP
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Arcus MSFT-USD
Injective MSFT/USDC PERP