MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0225%/8h= −24.6% APRnext payment −$0.28 per $10,000 · paid last 24h −0.053%

Price spread now: tradeXYZ against Injective−0.145%54s7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as 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−$400.402% of the position

Long on Injective Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.376%−$38 on $10k

Price spread, last 3 days (all we have)+0.018%+$2 · spread now −0.145%, 7d avg −0.051%

Together, before fees−0.358%+ Points / potential airdroptradeXYZ: Active · farm board−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and tradeXYZ is 0.094% cheaper against Injective than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.051%). Swap the legs. The two prices were read 54 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	501.87	0.0220	pay 0.0028% / 1h	50m 32s	$115K	$45K	30x
Short	tradeXYZ xyz:MSFT	501.14	−0.0005	pay 0.0001% / 1h	50m 32s	$22.1M	$9.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$47.21
Price spread: −0.145% → −0.051%: −$9.4
Slippage, 4 orders: −$22.18
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$96.82
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from Injective: live order book, 13 min ago; tradeXYZ: live order book, 9 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, 13 min ago	9.97 bp	10.0 bp −$10	10.0 bp −$100	65077.8 bp −$6.51M	365388.2 bp −$182.69M
Sell tradeXYZ live order book, 9 min ago	0.30 bp	10.4 bp −$10	13.6 bp −$136	doesn't fit	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
Nado MSFT-PERP	−0.0133%	1h	501.42	−0.089%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.126%	$679K	$456K	10x	as long as short
tradeXYZ xyz:MSFTshort	−0.0005%	1h	501.14	−0.145%	$22.1M	$9.1M	20x
Aster MSFTUSDT	0.0000%	8h	501.69	−0.035%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.45	−0.084%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.55	−0.065%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.64	−0.046%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.76	−0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.36	−0.102%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.59	−0.056%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.49	−0.076%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	−0.048%	$18K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.40	+0.106%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.24	−0.126%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.49	−0.076%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.69	−0.036%	$2.2M	$762K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.45	−0.084%	$1.1M	$5.7M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.39	−0.096%	$664K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	501.14	−0.145%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0040%	1h	501.65	−0.044%	$1.1M	$454K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.40	−0.094%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.60	−0.054%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.15	−0.143%	$303K	$646K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.44	−0.086%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.13	−0.147%	$522K	$481K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.45	−0.083%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.46	−0.082%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.46	−0.082%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.126%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.47	−0.080%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.45	−0.083%	$55	—	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	501.87	long leg	$115K	$45K	30x
edgeX MSFTUSDC	+0.0799%	4h	501.52	−0.069%	$102K	$243K	10x	as long as short