After costs, if the gap returns to its 7d average, $10k−$86
spread now−0.054%7d average−0.059%fees + slippage, in and out−$87spread needed0.870%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 499.02 | 0 | get 0.0000% / 8h | 6h 07m | $2.1M | $629K | 10x |
| Short | Bybit MSFTUSDT | 498.75 | 0 | get 0.0000% / 8h | 6h 07m | $7.3M | $1.5M | 100x |
Phemex MSFTUSDT
Bybit MSFTUSDTPrice 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
- −$5.41
- Funding while held
- $0
- Slippage, 4 orders
- −$63.97
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$92.38
- Spread needed to break even
- 0.870%
Slippage from Phemex: live order book, 2 min ago; Bybit: live order book, 2 min ago.
Cost of waiting
funding view- Funding /8h
- 0.0000%
- Per $10,000 a day
- +$0.00
- 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 Phemex live order book, 2 min ago | 0.50 bp | 29.6 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 1.00 bp | 10.3 bp −$10 | 17.9 bp −$179 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International497.09cheapestOndo Perps497.97+0.177%KuCoin498.21+0.225%Hotstuff498.23+0.229%Polymarket Perps498.26+0.235%Variational Omni498.30+0.243%ApeX Omni498.30+0.243%Nado498.32+0.247%edgeX498.34+0.251%Phoenix498.35+0.253%tradeXYZ498.36+0.255%Gate498.48+0.280%Vest498.52+0.288%Deribit498.53+0.290%Lighter RH498.54+0.292%Orderly498.55+0.294%Aevo498.56+0.296%SoDEX498.57+0.298%HTX498.58+0.300%BloFin498.60+0.304%Arcus498.64+0.312%QFEX498.65+0.314%Paradex498.66+0.316%Aster498.69+0.322%Lighter498.74+0.332%
Coinbase International
Ondo Perps
KuCoin
Hotstuff
Polymarket Perps
Variational Omni
ApeX Omni
Nado
Phoenix
tradeXYZ
Gate
Vest
Deribit
Lighter RH
Orderly
Aevo
SoDEX
HTX
BloFin
Arcus
QFEX
Paradex
Aster
LighterBybit498.75+0.334%
Extended498.78+0.341%Injective498.82+0.348%Binance498.85+0.354%Bitget498.85+0.354%OKX498.93+0.370%
Extended
Injective
Binance
Bitget
OKXPhemex499.02+0.388%
SunX499.46+0.477%
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.387% | −0.0056% | 1h | $675K | $353K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.210% | +0.0050% | 1h | $510K | $451K | 15x | as long as short |
| KuCoin MSFTUSDTM | −0.162% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.158% | +0.0072% | 1h | $40K | — | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.152% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |
| Variational Omni MSFT | −0.145% | 0.0000% | 8h | $1.3M | $719K | — | as long as short |
| ApeX Omni MSFTUSDT | −0.144% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Nado MSFT-PERP | −0.140% | −0.0001% | 1h | $460K | $6K | 20x | as long as short |
| edgeX MSFTUSDC | −0.137% | −0.0245% | 4h | $101K | $243K | 10x | as long as short |
| Phoenix MSFT | −0.134% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:MSFT | −0.132% | +0.0050% | 1h | $21.8M | $8.6M | 20x | as long as short |
| Gate MSFT_USDT | −0.108% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| Vest MSFT-USD-PERP | −0.100% | +0.0046% | 1h | — | — | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.098% | 0.0000% | 1h | $27K | $113K | 10x | as long as short |
| Lighter RH MSFT | −0.096% | +0.0032% | 1h | $655K | $2.1M | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.094% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | −0.092% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| SoDEX MSFT-USD | −0.090% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| HTX MSFT-USDT | −0.088% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| BloFin MSFT-USDT | −0.084% | +0.0027% | 8h | $192K | $181K | 20x | as long as short |
| Arcus MSFT-USD | −0.076% | +0.0577% | 1h | $111K | $75K | 10x | as long as short |
| QFEX MSFT-USD | −0.074% | +0.0028% | 1h | $1.2M | $4.5M | 10x | as long as short |
| Paradex MSFT-USD-PERP | −0.072% | +0.0050% | 8h | $219 | — | 5x | as long as short |
| Aster MSFTUSDT | −0.066% | 0.0000% | 8h | $157K | $80K | 20x | as long as short |
| Lighter MSFT | −0.056% | +0.0040% | 1h | $1.1M | $543K | 20x | as long as short |
| Bybit MSFTUSDTshort | −0.054% | 0.0000% | 8h | $7.3M | $1.5M | 100x | |
| Extended MSFT_24_5-USD | −0.048% | 0.0000% | 1h | $372K | $410K | 17x | as long as short |
| Injective MSFT/USDC PERP | −0.040% | +0.0220% | 1h | $114K | $125K | 30x | as long as short |
| Binance MSFTUSDT | −0.034% | 0.0000% | 8h | $15.7M | $16.5M | 20x | as long as short |
| Bitget MSFTUSDT | −0.034% | 0.0000% | 8h | $3.7M | $1.7M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | −0.018% | 0.0000% | 8h | $3.0M | $2.1M | 20x | as long as short |
| Phemex MSFTUSDTlong | 0.000% | 0.0000% | 8h | $2.1M | $629K | 10x | |
| SunX MSFT-USDT | +0.088% | 0.0000% | 8h | $6K | $4.4M | 20x | as long as short |