Spread before costs (cost unknown: a leg has no order-book sample)−0.021%
7d average—if it closes, per $10,000$2funding while held, a day+$24.60
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX MSFTUSDC | 496.68 | −0.0755 | get 0.0378% / 4h | 2h 57m | $101K | $245K | 10x |
| Short | Phoenix MSFT | 496.58 | 0.0065 | get 0.0008% / 1h | 57m 50s | $10K | $15K | 20x |
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
- −$2.11
- Funding while held
- $24.6
- Slippage, 4 orders
- no order book: not counted
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $6.49
- Spread needed to break even
- 0.160%
Slippage unknown: edgeX: live order book, 46 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0820%
- Per $10,000 a day
- +$24.60
- 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 edgeX live order book, 46 min ago | 5.16 bp | 9.8 bp −$10 | 12.0 bp −$120 | 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.Coinbase International496.17cheapesttradeXYZ496.25+0.016%Polymarket Perps496.28+0.022%Ondo Perps496.29+0.024%Nado496.35+0.036%Gate496.37+0.040%KuCoin496.42+0.050%Binance496.42+0.051%Bybit496.43+0.052%Hotstuff496.45+0.056%Bitget496.47+0.060%ApeX Omni496.48+0.062%Extended496.50+0.066%Deribit496.52+0.071%SoDEX496.54+0.075%Lighter RH496.57+0.081%BloFin496.57+0.081%Paradex496.58+0.082%QFEX496.58+0.083%
Coinbase International
tradeXYZ
Polymarket Perps
Ondo Perps
Nado
Gate
KuCoin
Binance
Bybit
Hotstuff
Bitget
ApeX Omni
Extended
Deribit
SoDEX
Lighter RH
BloFin
Paradex
QFEXPhoenix496.58+0.083%
HTX496.59+0.085%Orderly496.62+0.091%Aevo496.63+0.093%Arcus496.64+0.095%Vest496.65+0.097%Injective496.71+0.109%Variational Omni496.71+0.109%Lighter496.72+0.111%Aster496.74+0.115%Phemex496.74+0.115%OKX496.77+0.121%SunX497.45+0.258%
HTX
Orderly
Aevo
Arcus
Vest
Injective
Variational Omni
Lighter
Aster
Phemex
OKX
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.104% | −0.0056% | 1h | $668K | $343K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.088% | +0.0050% | 1h | $22.1M | $7.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.081% | +0.0050% | 1h | $301K | $443K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.079% | +0.0050% | 1h | $505K | $434K | 15x | as long as short |
| Nado MSFT-PERP | −0.068% | 0.0000% | 1h | $461K | $5K | 20x | as long as short |
| Gate MSFT_USDT | −0.063% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| KuCoin MSFTUSDTM | −0.053% | +0.0100% | 8h | $1.5M | $9K | 20x | as long as short |
| Binance MSFTUSDT | −0.053% | 0.0000% | 8h | $15.7M | $15.4M | 20x | as long as short |
| Bybit MSFTUSDT | −0.051% | 0.0000% | 8h | $7.3M | $1.4M | 100x | as long as short |
| Hotstuff MSFT-PERP | −0.047% | +0.0048% | 1h | $40K | — | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | −0.043% | 0.0000% | 8h | $3.7M | $1.7M | 100x | as long as short |
| ApeX Omni MSFTUSDT | −0.041% | +0.0100% | 1h | $158K | $7K | 50x | as long as short |
| Extended MSFT_24_5-USD | −0.038% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.033% | 0.0000% | 1h | $27K | $113K | 10x | as long as short |
| SoDEX MSFT-USD | −0.029% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| Lighter RH MSFT | −0.023% | +0.0032% | 1h | $667K | $2.0M | 20x | as long as short |
| BloFin MSFT-USDT | −0.023% | +0.0008% | 8h | $190K | $171K | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.022% | +0.0050% | 8h | $218 | — | 5x | as long as short |
| QFEX MSFT-USD | −0.021% | +0.0042% | 1h | $1.1M | $4.2M | 10x | as long as short |
| Phoenix MSFTshort | −0.021% | +0.0065% | 1h | $10K | $15K | 20x | |
| HTX MSFT-USDT | −0.019% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.013% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | −0.011% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | −0.009% | +0.0577% | 1h | $112K | $52K | 10x | as long as short |
| Vest MSFT-USD-PERP | −0.007% | +0.0046% | 1h | — | — | 25x | as long as short |
| edgeX MSFTUSDClong | 0.000% | −0.0755% | 4h | $101K | $245K | 10x | |
| Injective MSFT/USDC PERP | +0.005% | +0.0220% | 1h | $114K | $125K | 30x | as long as short |
| Variational Omni MSFT | +0.006% | 0.0000% | 8h | $1.3M | $714K | — | as long as short |
| Lighter MSFT | +0.007% | +0.0032% | 1h | $1.1M | $540K | 20x | as long as short |
| Aster MSFTUSDT | +0.011% | 0.0000% | 8h | $156K | $80K | 20x | as long as short |
| Phemex MSFTUSDT | +0.011% | 0.0000% | 8h | $2.1M | $586K | 10x | as long as short |
| OKX MSFT-USDT-SWAP | +0.017% | 0.0000% | 8h | $3.0M | $1.7M | 20x | as long as short |
| SunX MSFT-USDT | +0.154% | 0.0000% | 8h | $6K | $4.4M | 20x | as long as short |