MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0182%/8h= −20.0% APRnext payment −$0.23 per $10,000 · paid last 24h −0.053%

Price spread now: QFEX against Injective−0.038%105s7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.332% of the position

Long on Injective Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.209%−$21 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.038%, 7d avg +0.037%

Together, before fees−0.193%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.075% cheaper against Injective than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.037%). Swap the legs. The two prices were read 105 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	501.78	0.0220	pay 0.0028% / 1h	19m 35s	$115K	$45K	30x
Short	QFEX MSFT-USD	501.59	0.0038	get 0.0005% / 1h	19m 35s	$1.1M	$5.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$38.29
Price spread: −0.038% → +0.037%: −$7.46
Slippage, 4 orders: −$23.14
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$78.91
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Injective: live order book, 49 min ago; QFEX: live order book, 4 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, 49 min ago	9.98 bp	10.0 bp −$10	10.0 bp −$100	65080.0 bp −$6.51M	365399.3 bp −$182.70M
Sell QFEX live order book, 4 min ago	1.60 bp	6.6 bp −$7	6.6 bp −$66	12.9 bp −$1,289	doesn't fit

MSFT on 33 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-INTX	−0.0016%	1h	501.22	−0.112%	$679K	$457K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.77	−0.002%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.64	−0.028%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.74	−0.008%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.68	−0.020%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.91	+0.026%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.60	−0.036%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.66	−0.024%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.69	−0.017%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.56	−0.044%	$19K	$295K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.54	+0.151%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.64	−0.028%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.99	+0.042%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERP	+0.0005%	1h	501.60	−0.037%	$414K	$64K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0009%	1h	501.64	−0.028%	$27K	$41K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.59	−0.038%	$622K	$2.0M	20x	as long as short
QFEX MSFT-USDshort	+0.0038%	1h	501.59	−0.038%	$1.1M	$5.7M	10x
Arcus MSFT-USD	+0.0040%	1h	501.49	−0.058%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.63	−0.030%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.47	−0.062%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.41	−0.074%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.63	−0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.29	−0.098%	$522K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.66	−0.024%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	501.42	−0.072%	$32K	$8K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.33	−0.090%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.45	−0.066%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.108%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.69	−0.018%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.66	−0.023%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.87	+0.018%	$1.1M	$489K	20x	as long as short
edgeX MSFTUSDC	+0.0215%	4h	501.70	−0.017%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	501.78	long leg	$115K	$45K	30x