Funding you earn now, next payment 08:00 UTC−0.0013%/8h= −1.4% APRnext payment −$0.13 per $10,000 · paid last 24h +0.014%
Price spread now: BloFin against Phemex−0.016%59s7-day average −0.027% · you buy dearer than you sell
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$770.774% of the position
Funding, last 7 days+0.040%+$4 on $10k
+Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.016%, 7d avg −0.027%
=The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 503.51 | 0 | get 0.0000% / 8h | 51m 44s | $2.2M | $821K | 10x |
| Short | BloFin MSFT-USDT | 503.43 | −0.0013 | pay 0.0013% / 8h | 51m 44s | $191K | $206K | 20x |
Phemex MSFTUSDT
BloFin MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against Phemex. 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
- −$2.72
- Price spread: −0.016% → −0.027%
- $1.12
- Slippage, 4 orders
- −$53.39
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$78.98
- Costs to cover
- 0.774%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; BloFin: live order book, 19 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 Phemex live order book, 2 min ago | 0.60 bp | 31.2 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell BloFin live order book, 19 min ago | 0.10 bp | 7.7 bp −$8 | 9.7 bp −$97 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0346% | 4h | 503.47 | −0.007% | $102K | $242K | 10x | as long as short |
| Nado MSFT-PERP | −0.0074% | 1h | 503.15 | −0.071% | $414K | $67K | 20x | as long as short |
| BloFin MSFT-USDTshort | −0.0013% | 8h | 503.43 | −0.016% | $191K | $206K | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 503.18 | −0.065% | $161K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.29 | −0.044% | $344K | $1.8M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.43 | −0.016% | $15.8M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.20 | −0.062% | $7.3M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.49 | −0.004% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.21 | −0.060% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.44 | −0.014% | $3.8M | $2.9M | 100x | as long as short |
edgeX MSFTUSDC
Nado 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 | 503.43 | −0.016% | $1.3M | $414K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.50 | −0.003% | $18K | $327K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.24 | +0.145% | $6K | $3.8M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.15 | −0.071% | $27K | $44K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | 0.0000% | 1h | 502.97 | −0.107% | $682K | $455K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.37 | −0.028% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDTlong | 0.0000% | 8h | 503.51 | long leg | $2.2M | $821K | 10x | |
| Lighter RH MSFT | +0.0032% | 1h | 503.18 | −0.066% | $696K | $1.9M | 20x | as long as short |
| QFEX MSFT-USD | +0.0037% | 1h | 503.32 | −0.038% | $1.2M | $4.7M | 10x | as long as short |
| tradeXYZ xyz:MSFT | +0.0039% | 1h | 503.05 | −0.091% | $22.4M | $8.8M | 20x | as long as short |
| Lighter MSFT | +0.0040% | 1h | 503.33 | −0.036% | $1.2M | $520K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 503.01 | −0.099% | $32K | $8K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.20 | −0.062% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.44 | −0.014% | — | $1K | 25x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.13 | −0.075% | $303K | $717K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.25 | −0.052% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.11 | −0.079% | $512K | $433K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 503.28 | −0.046% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.22 | −0.058% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.83 | −0.135% | $1.6M | $61K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.39 | −0.024% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.26 | −0.050% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.32 | −0.039% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.82 | +0.062% | $115K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Coinbase International MSFT-PERP-INTX
HTX MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
tradeXYZ xyz:MSFT
Lighter MSFT
Hotstuff MSFT-PERP
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
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP