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Price arb /

MSFT

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Spread before costs (cost unknown: a leg has no order-book sample)−0.019%
7d average+0.064%if it closes, per $10,000$2funding while held, a day−$6.60
Long on InjectiveShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective MSFT/USDC PERP493.590.0220pay 0.0028% / 1h44m 26s$113K$154K30x
ShortVariational Omni MSFT493.500get 0.0000% / 8h44m 26s$1.2M$686K—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$1.86
Funding while held
−$6.6
Slippage, 4 orders
no order book: not counted
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$8.48
Spread needed to break even
0.000%
Slippage unknown: Injective: live order book, 6 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0220%
Per $10,000 a day
−$6.60
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 6 min ago9.94 bp9.9 bp −$109.9 bp −$9965077.7 bp −$6.51M365387.4 bp −$182.69M
Sell Variational Omni RFQ quote, 1 min ago2.53 bpdoesn't fit10.0 bp −$100doesn't fitdoesn't fit

MSFT price on every exchange

against the cheapest. Click to use as the short leg.
Ondo Perps492.79cheapestHotstuff492.83+0.008%tradeXYZ492.94+0.030%Polymarket Perps492.96+0.034%Vest493.02+0.047%KuCoin493.05+0.053%ApeX Omni493.07+0.057%Nado493.09+0.061%Deribit493.13+0.069%Phoenix493.20+0.083%Gate493.21+0.085%Bitget493.26+0.095%Orderly493.28+0.099%SoDEX493.28+0.099%HTX493.28+0.099%Paradex493.30+0.103%Aevo493.30+0.104%Lighter RH493.33+0.110%Arcus493.34+0.112%OKX493.35+0.114%QFEX493.37+0.118%BloFin493.37+0.118%Lighter493.42+0.128%Bybit493.42+0.128%Extended493.43+0.131%Aster493.45+0.134%Binance493.46+0.136%
Variational Omni493.50+0.144%
Injective493.59+0.162%
edgeX493.65+0.174%Phemex493.81+0.207%Coinbase International493.89+0.223%SunX494.15+0.276%

MSFT on 33 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Ondo Perps MSFT-USD.P−0.162%+0.0050%1h$536K$371K15xas long as short
Hotstuff MSFT-PERP−0.154%0.0000%1h$40K—20xas long as short
tradeXYZ xyz:MSFT−0.132%+0.0050%1h$23.1M$6.1M20xas long as short
Polymarket Perps MSFT-USD−0.128%+0.0050%1h$288K$470K10xas long as short
Vest MSFT-USD-PERP−0.115%+0.0046%1h——25xas long as short
KuCoin MSFTUSDTM−0.109%+0.0100%8h$1.5M$6K20xas long as short
ApeX Omni MSFTUSDT−0.105%+0.0100%1h$157K$7K50xas long as short
Nado MSFT-PERP−0.101%−0.0006%1h$458K$4K20xas long as short
Deribit MSFT_USDC-PERPETUAL−0.093%0.0000%1h$27K$103K10xas long as short
Phoenix MSFT−0.079%+0.0065%1h$10K$15K20xas long as short
Show all 33 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Gate MSFT_USDT−0.077%0.0000%8h$3.0M$1.0M100xas long as short
Bitget MSFTUSDT−0.067%0.0000%8h$3.7M$1.6M100xas long as short
Orderly PERP_MSFT_USDC_mythos−0.063%+0.0100%8h$8K—10xas long as short
SoDEX MSFT-USD−0.063%+0.0050%1h$59K$3K10xas long as short
HTX MSFT-USDT−0.063%0.0000%8h$58K$231K20xas long as short
Paradex MSFT-USD-PERP−0.060%+0.0052%8h$217—5xas long as short
Aevo MSFT-PERP−0.058%+0.0104%1h$54—10xas long as short
Lighter RH MSFT−0.053%+0.0032%1h$677K$2.0M20xas long as short
Arcus MSFT-USD−0.051%+0.0325%1h$112K$48K10xas long as short
OKX MSFT-USDT-SWAP−0.049%0.0000%8h$3.1M$1.4M20xas long as short
QFEX MSFT-USD−0.045%+0.0052%1h$1.1M$3.3M10xas long as short
BloFin MSFT-USDT−0.045%+0.0020%8h$193K$140K20xas long as short
Lighter MSFT−0.034%+0.0032%1h$1.1M$529K20xas long as short
Bybit MSFTUSDT−0.034%0.0000%8h$7.3M$1.0M100xas long as short
Extended MSFT_24_5-USD−0.032%0.0000%1h$329K$380K17xas long as short
Aster MSFTUSDT−0.028%0.0000%8h$151K$76K20xas long as short
Binance MSFTUSDT−0.026%0.0000%8h$15.8M$12.9M20xas long as short
Variational Omni MSFTshort−0.019%0.0000%8h$1.2M$686K—
Injective MSFT/USDC PERPlong0.000%+0.0220%1h$113K$154K30x
edgeX MSFTUSDC+0.012%−0.0553%4h$100K$244K10xas long as short
Phemex MSFTUSDT+0.045%0.0000%8h$2.1M$474K10xas long as short
Coinbase International MSFT-PERP-INTX+0.061%−0.0008%1h$663K$332K10xas long as short
SunX MSFT-USDT+0.113%0.0000%8h$6K$3.8M20xas long as short