Spread before costs (cost unknown: a leg has no order-book sample)+0.032%
7d average—if it closes, per $10,000$3funding while held, a day−$0.07
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps MSFT-USD.P | 498.29 | 0.0050 | pay 0.0006% / 1h | 2m 19s | $510K | $453K | 15x |
| Short | Phoenix MSFT | 498.45 | 0.0048 | get 0.0006% / 1h | 2m 19s | $10K | $15K | 20x |
Ondo Perps MSFT-USD.P
Phoenix MSFTPrice 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
- $3.21
- Funding while held
- −$0.07
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$8.86
- Spread needed to break even
- 0.120%
Slippage unknown: Ondo Perps: no order-book sample; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0002%
- Per $10,000 a day
- −$0.07
- 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 Phoenix no order-book sample | — | — | — | — | — |
Ondo Perps and Phoenix: 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.Polymarket Perps498.22cheapest
Polymarket PerpsOndo Perps498.29+0.014%
tradeXYZ498.35+0.026%Gate498.35+0.026%Nado498.36+0.028%Hotstuff498.38+0.032%KuCoin498.41+0.038%ApeX Omni498.41+0.038%
tradeXYZ
Gate
Nado
Hotstuff
KuCoin
ApeX OmniPhoenix498.45+0.046%
Deribit498.49+0.054%Vest498.52+0.060%Orderly498.59+0.074%Aster498.59+0.075%HTX498.60+0.076%Aevo498.61+0.078%Extended498.62+0.080%Paradex498.62+0.080%Lighter RH498.63+0.082%Arcus498.64+0.084%SoDEX498.64+0.084%Bitget498.65+0.086%Binance498.66+0.088%QFEX498.67+0.090%BloFin498.69+0.094%OKX498.72+0.100%Lighter498.73+0.102%Bybit498.75+0.106%Injective498.75+0.106%Phemex498.83+0.122%edgeX498.84+0.125%Variational Omni499.03+0.162%Coinbase International499.37+0.231%SunX499.53+0.263%
Deribit
Vest
Orderly
Aster
HTX
Aevo
Extended
Paradex
Lighter RH
Arcus
SoDEX
Bitget
Binance
QFEX
BloFin
OKX
Lighter
Bybit
Injective
Phemex
Variational Omni
Coinbase International
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Polymarket Perps MSFT-USD | −0.014% | +0.0050% | 1h | $301K | $444K | 10x | as long as short |
| Ondo Perps MSFT-USD.Plong | 0.000% | +0.0050% | 1h | $510K | $453K | 15x | |
| tradeXYZ xyz:MSFT | +0.012% | +0.0050% | 1h | $22.2M | $8.9M | 20x | as long as short |
| Gate MSFT_USDT | +0.012% | 0.0000% | 8h | $3.0M | $1.4M | 100x | as long as short |
| Nado MSFT-PERP | +0.014% | −0.0004% | 1h | $446K | $25K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.018% | +0.0064% | 1h | $40K | — | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.024% | +0.0100% | 8h | $1.5M | $11K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.024% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Phoenix MSFTshort | +0.032% | +0.0048% | 1h | $10K | $15K | 20x | |
| Deribit MSFT_USDC-PERPETUAL | +0.040% | 0.0000% | 1h | $27K | $114K | 10x | as long as short |