MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRnext payment +$1.00 per $10,000 · paid last 24h +0.030%

Price spread now: KuCoin against Phemex−0.154%50s7-day average −0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs−$405as 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−$4234.234% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.186%+$19 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.154%, 7d avg −0.118%

Together, before fees+0.213%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.035% cheaper against Phemex than usual: you would sell low and buy high (spread −0.154% now, against its 7-day average of −0.118%). If the spread goes back, that is −$4 on $10k: about 28 hours of funding at the current rate (+$3 a day). The two prices were read 50 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	501.50	0	get 0.0000% / 8h	3h 41m	$2.2M	$770K	10x
Short	KuCoin MSFTUSDTM	500.73	0.0100	get 0.0100% / 8h	3h 41m	$1.6M	$52K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee KuCoinbpOrdersPrice spread, now −0.154%Rate

Funding earned: $21
Price spread: −0.154% → −0.118%: −$3.55
Slippage, 4 orders: −$399.37
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$405.91
Costs to cover: 4.234%
Break-even: 142.3 days

Slippage from Phemex: live order book, 2 min ago; KuCoin: live order book, 4 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	1.79 bp	32.7 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	5.29 bp	213.1 bp −$213	doesn't fit	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	−0.0760%	4h	501.36	−0.028%	$102K	$242K	10x	as long as short
Nado MSFT-PERP	−0.0110%	1h	501.30	−0.039%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0048%	1h	501.01	−0.098%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.106%	$677K	$450K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0007%	1h	500.99	−0.102%	$22.1M	$8.7M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.29	−0.042%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.30	−0.040%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.44	−0.012%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.15	−0.070%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.53	+0.006%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.24	−0.052%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.31	−0.038%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.34	−0.032%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.39	−0.022%	$18K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.21	+0.142%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.29	−0.042%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.29	−0.042%	$59K	$225K	20x	as long as short
Phemex MSFTUSDTlong	0.0000%	8h	501.50	long leg	$2.2M	$770K	10x
BloFin MSFT-USDT	+0.0018%	8h	501.47	−0.006%	$189K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.44	−0.012%	$1.1M	$503K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.17	−0.066%	$676K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.32	−0.036%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.13	−0.074%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.34	−0.032%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.07	−0.086%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.08	−0.084%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.24	−0.052%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.01	−0.098%	$518K	$452K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.36	−0.028%	$221	—	5x	as long as short
KuCoin MSFTUSDTMshort	+0.0100%	8h	500.73	−0.154%	$1.6M	$52K	20x
ApeX Omni MSFTUSDT	+0.0100%	1h	500.94	−0.112%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.34	−0.032%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.33	−0.034%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.54	+0.008%	$115K	$45K	30x	as long as short