Spread before costs (cost unknown: a leg has no order-book sample)−0.078%
7d average+0.029%if it closes, per $10,000$8funding while held, a day+$5.09
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSFT-USD.P | 499.14 | 0.0050 | pay 0.0006% / 1h | 10m 59s | $510K | $453K | 15x |
| Short | Injective MSFT/USDC PERP | 498.75 | 0.0220 | get 0.0028% / 1h | 10m 59s | $114K | $88K | 30x |
Ondo Perps MSFT-USD.P
Injective MSFT/USDC PERPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$7.81
- Funding while held
- $5.09
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$7.75
- Spread needed to break even
- 0.050%
Slippage unknown: Ondo Perps: no order-book sample; Injective: live order book, 24 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0170%
- Per $10,000 a day
- +$5.09
- Average in range /8h
- —
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 Injective live order book, 24 min ago | 10.04 bp | 10.0 bp −$10 | 10.0 bp −$100 | 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 price on every exchange
against the cheapest. Click to use as the short leg.Variational Omni498.11cheapestApeX Omni498.13+0.004%Phoenix498.19+0.016%edgeX498.53+0.084%
Variational Omni
ApeX Omni
PhoenixInjective498.75+0.128%
Hotstuff498.93+0.164%KuCoin499.10+0.198%
Hotstuff
KuCoinOndo Perps499.14+0.206%
Gate499.25+0.228%Polymarket Perps499.25+0.228%HTX499.27+0.232%tradeXYZ499.28+0.234%Deribit499.31+0.240%Vest499.32+0.242%Coinbase International499.37+0.252%Orderly499.41+0.260%SoDEX499.41+0.260%Aevo499.41+0.261%Nado499.42+0.264%Bybit499.46+0.271%Extended499.46+0.271%Lighter RH499.47+0.273%Bitget499.48+0.275%BloFin499.49+0.277%OKX499.53+0.285%Binance499.54+0.287%Arcus499.56+0.291%Phemex499.56+0.291%Aster499.57+0.293%Lighter499.60+0.299%QFEX499.60+0.299%Paradex499.63+0.306%SunX500.21+0.421%
Gate
Polymarket Perps
HTX
tradeXYZ
Deribit
Vest
Coinbase International
Orderly
SoDEX
Aevo
Nado
Bybit
Extended
Lighter RH
Bitget
BloFin
OKX
Binance
Arcus
Phemex
Aster
Lighter
QFEX
Paradex
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | −0.206% | 0.0000% | 8h | $1.3M | $704K | — | as long as short |
| ApeX Omni MSFTUSDT | −0.202% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Phoenix MSFT | −0.190% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| edgeX MSFTUSDC | −0.122% | −0.0767% | 4h | $101K | $243K | 10x | as long as short |
| Injective MSFT/USDC PERPshort | −0.078% | +0.0220% | 1h | $114K | $88K | 30x | |
| Hotstuff MSFT-PERP | −0.042% | +0.0048% | 1h | $40K | — | 20x | as long as short |
| KuCoin MSFTUSDTM | −0.008% | +0.0100% | 8h | $1.5M | $11K | 20x | as long as short |
| Ondo Perps MSFT-USD.Plong | 0.000% | +0.0050% | 1h | $510K | $453K | 15x | |
| Gate MSFT_USDT | +0.022% | 0.0000% | 8h | $3.0M | $1.4M | 100x | as long as short |
| Polymarket Perps MSFT-USD | +0.022% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |