Funding you earn now, next payment 23:00 UTC−0.0066%/8h= −7.3% APRnext payment −$0.08 per $10,000 · paid last 24h −0.020%
Price spread now: Coinbase International against Ondo Perps−0.030%7-day average −0.025% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.145%−$15 on $10k
+Price spread, last 3 days (all we have)+0.070%+$7 · spread now −0.030%, 7d avg −0.025%
=Together, before fees−0.075%+ Points / potential airdropOndo Perps: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSFT-USD.P | 501.91 | 0.0050 | pay 0.0006% / 1h | 40m 01s | $529K | $494K | 15x |
| Short | Coinbase International MSFT-PERP-INTX | 501.76 | −0.0016 | pay 0.0002% / 1h | 40m 01s | $687K | $450K | 10x |
Ondo Perps MSFT-USD.P
Coinbase International MSFT-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Ondo Perps. 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
- −$13.94
- Price spread: −0.030% → −0.025%
- −$0.45
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$29.39
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Coinbase International: live order book, 38 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, 38 min ago | 3.69 bp | 8.7 bp −$9 | 11.3 bp −$113 | doesn't fit | doesn't fit |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | −0.0018% | 1h | 501.95 | +0.007% | $414K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTXshort | −0.0016% | 1h | 501.76 | −0.030% | $687K | $450K | 10x | |
| Aster MSFTUSDT | 0.0000% | 8h | 502.22 | +0.061% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 502.16 | +0.050% | $337K | $392K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 502.25 | +0.068% | $15.7M | $19.1M | 20x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 502.31 | +0.080% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.05 | +0.028% | $3.2M | $1.6M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 502.25 | +0.068% | $3.8M | $2.3M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 502.20 | +0.058% | $1.3M | $692K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.16 | +0.049% | $18K | $300K | 10x | as long as short |
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_PerpShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX MSFT-USDT | 0.0000% | 8h | 503.02 | +0.221% | $6K | $4.3M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.15 | +0.048% | $59K | $227K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 502.34 | +0.086% | $2.2M | $749K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0019% | 8h | 502.26 | +0.070% | $188K | $209K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0024% | 1h | 501.85 | −0.012% | $32K | $8K | 20x | as long as short |
| Bybit MSFTUSDT | +0.0029% | 8h | 502.30 | +0.078% | $7.4M | $1.7M | 100x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 502.13 | +0.044% | $638K | $2.1M | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 502.10 | +0.038% | — | $1K | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0049% | 1h | 502.06 | +0.030% | $27K | $101K | 10x | as long as short |
| QFEX MSFT-USD | +0.0049% | 1h | 502.14 | +0.046% | $1.1M | $5.8M | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.87 | −0.008% | $22.3M | $9.6M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.76 | −0.030% | $303K | $678K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.17 | +0.052% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.Plong | +0.0050% | 1h | 501.91 | long leg | $529K | $494K | 15x | |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 502.17 | +0.052% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.94 | +0.006% | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.72 | −0.038% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.91 | 0.000% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 502.18 | +0.054% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 502.18 | +0.054% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0160% | 1h | 502.35 | +0.088% | $1.1M | $585K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.57 | +0.131% | $115K | $45K | 30x | as long as short |
| Arcus MSFT-USD | +0.0286% | 1h | 502.15 | +0.048% | $97K | $109K | 10x | as long as short |
| edgeX MSFTUSDC | +0.0865% | 4h | 502.25 | +0.069% | $102K | $244K | 10x | as long as short |
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Hotstuff MSFT-PERP
Bybit MSFTUSDT
Lighter RH MSFT
Vest MSFT-USD-PERP
Deribit MSFT_USDC-PERPETUAL
QFEX MSFT-USD
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP
Arcus MSFT-USD
edgeX MSFTUSDC