MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0268%/8h= −29.3% APRnext payment −$0.34 per $10,000 · paid last 24h −0.074%

Price spread now: Coinbase International against Injective−0.109%64s7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as 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−$360.364% of the position

Long on Injective Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.471%−$47 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.109%, 7d avg −0.071%

Together, before fees−0.364%−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Coinbase International is 0.038% cheaper against Injective than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.071%). Swap the legs. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSFT/USDC PERP	504.21	0.0220	pay 0.0028% / 1h	29m 31s	$115K	$45K	30x
Short	Coinbase International MSFT-PERP-INTX	503.66	−0.0048	pay 0.0006% / 1h	29m 31s	$682K	$500K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee Coinbase InternationalbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$56.28
Price spread: −0.109% → −0.071%: −$3.84
Slippage, 4 orders: −$26.36
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$96.5
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from Injective: live order book, 14 min ago; Coinbase International: live order book, 14 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 Injective live order book, 14 min ago	10.13 bp	10.1 bp −$10	10.1 bp −$101	65079.0 bp −$6.51M	365394.2 bp −$182.70M
Sell Coinbase International live order book, 14 min ago	2.48 bp	8.3 bp −$8	10.5 bp −$105	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
Coinbase International MSFT-PERP-INTXshort	−0.0048%	1h	503.66	−0.109%	$682K	$500K	10x
BloFin MSFT-USDT	−0.0027%	8h	504.03	−0.036%	$191K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.67	−0.107%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.89	−0.064%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.03	−0.035%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.69	−0.103%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.97	−0.048%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.82	−0.077%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.97	−0.048%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.94	−0.053%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.99	−0.044%	$18K	$327K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.77	+0.111%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.90	−0.061%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.96	−0.050%	$2.2M	$821K	10x	as long as short
Nado MSFT-PERP	+0.0014%	1h	503.60	−0.121%	$415K	$67K	20x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	503.50	−0.141%	$32K	$8K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.74	−0.093%	$701K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.92	−0.058%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.70	−0.101%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.89	−0.063%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.54	−0.133%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.67	−0.107%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.83	−0.075%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.54	−0.133%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.84	−0.073%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.69	−0.103%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.37	−0.167%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.48	−0.145%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.77	−0.087%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.83	−0.075%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0127%	1h	503.70	−0.101%	$27K	$43K	10x	as long as short
Lighter MSFT	+0.0136%	1h	503.96	−0.050%	$1.2M	$514K	20x	as long as short
edgeX MSFTUSDC	+0.0164%	4h	503.94	−0.053%	$103K	$244K	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	504.21	long leg	$115K	$45K	30x