After costs, if the gap returns to its 7d average, $10k−$60
spread now+0.130%7d average−0.112%fees + slippage, in and out−$85spread needed0.846%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 499.46 | 0 | get 0.0000% / 8h | 5h 54m | $2.1M | $641K | 10x |
| Short | Injective MSFT/USDC PERP | 500.11 | 0.0220 | get 0.0028% / 1h | 54m 59s | $115K | $88K | 30x |
Phemex MSFTUSDT
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
- $13.01
- Funding while held
- $6.6
- Slippage, 4 orders
- −$72.54
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$64.94
- Spread needed to break even
- 0.846%
Slippage from Phemex: live order book, 5 min ago; Injective: live order book, 45 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0220%
- Per $10,000 a day
- +$6.60
- 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, 5 min ago | 1.10 bp | 34.0 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
| Sell Injective live order book, 45 min ago | 10.05 bp | 10.1 bp −$10 | 10.1 bp −$101 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International497.09cheapestKuCoin498.61+0.306%Polymarket Perps498.76+0.336%Hotstuff498.79+0.342%tradeXYZ498.86+0.356%Ondo Perps498.87+0.358%Nado498.97+0.378%Phoenix498.97+0.378%Gate498.98+0.380%ApeX Omni499.01+0.386%Vest499.06+0.396%Lighter RH499.07+0.398%Paradex499.09+0.402%Deribit499.10+0.404%OKX499.12+0.408%Bitget499.14+0.412%Aster499.16+0.416%HTX499.16+0.416%Binance499.17+0.418%Extended499.18+0.420%Bybit499.18+0.420%Orderly499.18+0.420%SoDEX499.18+0.420%Arcus499.20+0.424%QFEX499.22+0.428%Aevo499.22+0.429%Lighter499.26+0.437%BloFin499.26+0.437%edgeX499.27+0.438%Variational Omni499.28+0.441%
Coinbase International
KuCoin
Polymarket Perps
Hotstuff
tradeXYZ
Ondo Perps
Nado
Phoenix
Gate
ApeX Omni
Vest
Lighter RH
Paradex
Deribit
OKX
Bitget
Aster
HTX
Binance
Extended
Bybit
Orderly
SoDEX
Arcus
QFEX
Aevo
Lighter
BloFin
Variational OmniPhemex499.46+0.477%
SunX500.01+0.587%
SunXInjective500.11+0.608%
MSFT 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 | −0.475% | −0.0056% | 1h | $675K | $352K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.170% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.140% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.134% | +0.0016% | 1h | $40K | — | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.120% | +0.0050% | 1h | $21.8M | $8.6M | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.118% | +0.0050% | 1h | $510K | $451K | 15x | as long as short |
| Nado MSFT-PERP | −0.098% | −0.0024% | 1h | $447K | $24K | 20x | as long as short |
| Phoenix MSFT | −0.098% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| Gate MSFT_USDT | −0.096% | 0.0000% | 8h | $3.1M | $1.4M | 100x | as long as short |
| ApeX Omni MSFTUSDT | −0.090% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Vest MSFT-USD-PERP | −0.080% | +0.0046% | 1h | — | — | 25x | as long as short |
| Lighter RH MSFT | −0.078% | +0.0032% | 1h | $657K | $2.0M | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.074% | +0.0050% | 8h | $220 | — | 5x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.072% | 0.0000% | 1h | $27K | $113K | 10x | as long as short |
| OKX MSFT-USDT-SWAP | −0.068% | 0.0000% | 8h | $3.1M | $2.1M | 20x | as long as short |
| Bitget MSFTUSDT | −0.064% | +0.0002% | 8h | $3.7M | $1.7M | 100x | as long as short |
| Aster MSFTUSDT | −0.060% | 0.0000% | 8h | $157K | $80K | 20x | as long as short |
| HTX MSFT-USDT | −0.060% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Binance MSFTUSDT | −0.059% | 0.0000% | 8h | $15.6M | $16.7M | 20x | as long as short |
| Extended MSFT_24_5-USD | −0.056% | 0.0000% | 1h | $372K | $410K | 17x | as long as short |
| Bybit MSFTUSDT | −0.056% | 0.0000% | 8h | $7.3M | $1.5M | 100x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.056% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| SoDEX MSFT-USD | −0.056% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| Arcus MSFT-USD | −0.052% | +0.0573% | 1h | $111K | $75K | 10x | as long as short |
| QFEX MSFT-USD | −0.048% | +0.0044% | 1h | $1.2M | $4.6M | 10x | as long as short |
| Aevo MSFT-PERP | −0.048% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| Lighter MSFT | −0.040% | +0.0056% | 1h | $1.1M | $537K | 20x | as long as short |
| BloFin MSFT-USDT | −0.040% | +0.0002% | 8h | $194K | $185K | 20x | as long as short |
| edgeX MSFTUSDC | −0.038% | +0.0818% | 4h | $102K | $243K | 10x | as long as short |
| Variational Omni MSFT | −0.036% | 0.0000% | 8h | $1.3M | $719K | — | as long as short |
| Phemex MSFTUSDTlong | 0.000% | 0.0000% | 8h | $2.1M | $641K | 10x | |
| SunX MSFT-USDT | +0.110% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |
| Injective MSFT/USDC PERPshort | +0.130% | +0.0220% | 1h | $115K | $88K | 30x |