Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRnext payment −$1.00 per $10,000 · paid last 24h −0.030%
Price spread now: Phemex against KuCoin+0.088%7-day average +0.119% · you sell dearer than you buy
Net, funding: paid 7d − costs−$232as in the Funding arb table
Net, price: spread back to 7d avg − costs−$217as in the Price arb table
costs, in and out, $10k−$2142.138% of the position
Funding, last 7 days−0.186%−$19 on $10k
+Price spread, last 4 days (all we have)+0.145%+$15 · spread now +0.088%, 7d avg +0.119%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phemex is 0.031% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.119%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin MSFTUSDTM | 501.58 | 0.0100 | pay 0.0100% / 8h | 5h 46m | $1.5M | $19K | 20x |
| Short | Phemex MSFTUSDT | 502.02 | 0 | get 0.0000% / 8h | 5h 46m | $2.2M | $764K | 10x |
KuCoin MSFTUSDTM
Phemex MSFTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: +0.088% → +0.119%
- −$3.11
- Slippage, 4 orders
- −$189.75
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$237.86
- Costs to cover
- 2.138%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 4 min ago; Phemex: live order book, 1 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 KuCoin live order book, 4 min ago | 10.77 bp | 89.5 bp −$89 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 1 min ago | 0.90 bp | 35.8 bp −$36 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0124% | 1h | 501.56 | −0.005% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 501.24 | −0.068% | $679K | $456K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0008% | 1h | 501.29 | −0.058% | $32K | $8K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.79 | +0.042% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.78 | +0.041% | $338K | $891K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.89 | +0.062% | $15.6M | $18.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.64 | +0.012% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.92 | +0.068% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.63 | +0.010% | $3.1M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.87 | +0.058% | $4.5M | $2.5M | 100x | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
Hotstuff MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 501.49 | −0.018% | $1.3M | $650K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.60 | +0.005% | $19K | $293K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.66 | +0.215% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.55 | −0.006% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.69 | +0.022% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDTshort | 0.0000% | 8h | 502.02 | +0.088% | $2.2M | $764K | 10x | |
| tradeXYZ xyz:MSFT | +0.0002% | 1h | 501.42 | −0.032% | $22.1M | $9.1M | 20x | as long as short |
| BloFin MSFT-USDT | +0.0027% | 8h | 502.00 | +0.084% | — | $204K | 20x | as long as short |
| QFEX MSFT-USD | +0.0030% | 1h | 501.56 | −0.004% | $1.2M | $5.7M | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.80 | +0.044% | $1.1M | $454K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.54 | −0.008% | $668K | $2.0M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.40 | −0.036% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.59 | +0.002% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.30 | −0.056% | $303K | $646K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.70 | +0.024% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.37 | −0.042% | $522K | $481K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 501.61 | +0.006% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 501.28 | −0.060% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTMlong | +0.0100% | 8h | 501.58 | long leg | $1.5M | $19K | 20x | |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.36 | −0.044% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.62 | +0.008% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.62 | +0.007% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.81 | +0.046% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0247% | 4h | 501.48 | −0.020% | $102K | $243K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
tradeXYZ xyz:MSFT
BloFin MSFT-USDT
QFEX MSFT-USD
Lighter MSFT
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC