Funding you earn now, next payment 08:00 UTC−0.1038%/8h= −113.6% APRpaid last 24h −0.076%
Price spread now: edgeX against Ondo Perps+0.055%54s7-day average +0.087% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.085%−$9 on $10k
+Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.055%, 7d avg +0.087%
=Together, before fees−0.151%+ Points / potential airdropOndo Perps: Active · edgeX: Active · farm board−$15 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and edgeX is 0.032% cheaper against Ondo Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.087%). Swap the legs. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSFT-USD.P | 503.08 | 0.0050 | pay 0.0006% / 1h | 50m 10s | $512K | $432K | 15x |
| Short | edgeX MSFTUSDC | 503.36 | −0.0987 | pay 0.0494% / 4h | 50m 10s | $102K | $243K | 10x |
Ondo Perps MSFT-USD.P
edgeX MSFTUSDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
edgeX 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
- −$217.94
- Price spread: +0.055% → +0.087%
- −$3.2
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Net
- −$235.15
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; edgeX: live order book, 52 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 edgeX live order book, 52 min ago | 5.26 bp | 9.9 bp −$10 | 12.3 bp −$123 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDCshort | −0.0987% | 4h | 503.36 | +0.055% | $102K | $243K | 10x | |
| Hotstuff MSFT-PERP | −0.0080% | 1h | 503.08 | 0.000% | $32K | $8K | 20x | as long as short |
| Nado MSFT-PERP | −0.0054% | 1h | 503.50 | +0.084% | $414K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0023% | 8h | 503.56 | +0.095% | $191K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.39 | +0.061% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.58 | +0.098% | $342K | $1.8M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.72 | +0.126% | $15.8M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.41 | +0.066% | $7.3M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.52 | +0.087% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.44 | +0.072% | $3.1M | $1.8M | 100x | as long as short |
Hotstuff MSFT-PERP
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 503.65 | +0.113% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.45 | +0.073% | $1.3M | $414K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.50 | +0.083% | $18K | $327K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.60 | +0.302% | $6K | $3.8M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.38 | +0.060% | $27K | $44K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 502.97 | −0.022% | $682K | $455K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.58 | +0.099% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.10 | +0.203% | $2.2M | $821K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.40 | +0.064% | $696K | $1.9M | 20x | as long as short |
| QFEX MSFT-USD | +0.0037% | 1h | 503.57 | +0.097% | $1.2M | $4.7M | 10x | as long as short |
| Lighter MSFT | +0.0040% | 1h | 503.53 | +0.089% | $1.2M | $520K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.23 | +0.030% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.61 | +0.105% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.21 | +0.026% | $22.4M | $8.8M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.38 | +0.060% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.52 | +0.087% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.Plong | +0.0050% | 1h | 503.08 | long leg | $512K | $432K | 15x | |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 503.62 | +0.108% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.22 | +0.028% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.97 | −0.022% | $1.6M | $61K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 502.98 | −0.020% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.40 | +0.064% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.53 | +0.090% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.82 | +0.147% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Lighter MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
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
Injective MSFT/USDC PERP