Spread before costs (cost unknown: a leg has no order-book sample)+0.030%
7d average—if it closes, per $10,000$3funding while held, a day+$1.45
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate MSFT_USDT | 496.71 | 0 | get 0.0000% / 8h | 6h 19m | $3.1M | $1.3M | 100x |
| Short | Phoenix MSFT | 496.86 | 0.0048 | get 0.0006% / 1h | 19m 18s | $10K | $15K | 20x |
Gate MSFT_USDT
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
- $3.02
- Funding while held
- $1.45
- Slippage, 4 orders
- no order book: not counted
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$17.53
- Spread needed to break even
- 0.220%
Slippage unknown: Gate: live order book, 5 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0048%
- Per $10,000 a day
- +$1.45
- 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 Gate live order book, 5 min ago | 3.12 bp | 14.2 bp −$14 | 48.1 bp −$481 | 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.KuCoin496.42cheapestPolymarket Perps496.47+0.010%Hotstuff496.48+0.012%Nado496.51+0.018%tradeXYZ496.54+0.024%ApeX Omni496.57+0.030%
KuCoin
Polymarket Perps
Hotstuff
Nado
tradeXYZ
ApeX OmniGate496.71+0.058%
Vest496.71+0.058%Aster496.74+0.064%Paradex496.80+0.076%Ondo Perps496.80+0.077%HTX496.82+0.081%Arcus496.85+0.087%
Vest
Aster
Paradex
Ondo Perps
HTX
ArcusPhoenix496.86+0.089%
Deribit496.87+0.091%QFEX496.88+0.093%OKX496.97+0.111%Bitget496.99+0.115%Orderly496.99+0.115%Extended497.01+0.119%Lighter RH497.01+0.119%SoDEX497.02+0.121%Aevo497.03+0.122%Variational Omni497.08+0.132%BloFin497.08+0.133%Coinbase International497.09+0.135%Binance497.13+0.143%Bybit497.13+0.143%edgeX497.19+0.155%Lighter497.24+0.165%Phemex497.65+0.248%SunX497.66+0.250%Injective498.44+0.407%
Deribit
QFEX
OKX
Bitget
Orderly
Extended
Lighter RH
SoDEX
Aevo
Variational Omni
BloFin
Coinbase International
Binance
Bybit
Lighter
Phemex
SunX
InjectiveMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.058% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.048% | +0.0050% | 1h | $301K | $444K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.046% | +0.0008% | 1h | $40K | — | 20x | as long as short |
| Nado MSFT-PERP | −0.041% | +0.0007% | 1h | $461K | $5K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.034% | +0.0050% | 1h | $21.9M | $8.5M | 20x | as long as short |
| ApeX Omni MSFTUSDT | −0.028% | +0.0100% | 1h | $158K | $7K | 50x | as long as short |
| Gate MSFT_USDTlong | 0.000% | 0.0000% | 8h | $3.1M | $1.3M | 100x | |
| Vest MSFT-USD-PERP | 0.000% | +0.0046% | 1h | — | — | 25x | as long as short |
| Aster MSFTUSDT | +0.006% | 0.0000% | 8h | $156K | $80K | 20x | as long as short |
| Paradex MSFT-USD-PERP | +0.017% | +0.0050% | 8h | $219 | — | 5x | as long as short |