Spread before costs (cost unknown: a leg has no order-book sample)−0.174%
7d average—if it closes, per $10,000$17funding while held, a day+$1.94
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 493.71 | 0 | get 0.0000% / 8h | 38m 20s | $2.1M | $481K | 10x |
| Short | Phoenix MSFT | 492.85 | 0.0065 | get 0.0008% / 1h | 38m 20s | $10K | $15K | 20x |
Phemex MSFTUSDT
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
- −$17.42
- Funding while held
- $1.94
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$34.47
- Spread needed to break even
- 0.190%
Slippage unknown: Phemex: live order book, 1 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0065%
- Per $10,000 a day
- +$1.94
- 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, 1 min ago | 0.61 bp | 30.3 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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.ApeX Omni492.72cheapestPolymarket Perps492.80+0.016%tradeXYZ492.83+0.022%
ApeX Omni
Polymarket Perps
tradeXYZPhoenix492.85+0.026%
Hotstuff492.89+0.035%Ondo Perps492.91+0.039%Vest492.91+0.039%KuCoin492.94+0.045%Variational Omni492.96+0.048%Coinbase International493.01+0.059%Gate493.04+0.065%Deribit493.06+0.069%Nado493.12+0.081%Orderly493.12+0.081%SoDEX493.13+0.083%Lighter RH493.15+0.087%HTX493.15+0.087%Paradex493.18+0.093%Lighter493.18+0.093%Arcus493.19+0.095%edgeX493.19+0.096%Extended493.22+0.102%Bitget493.24+0.106%Aevo493.24+0.106%Binance493.26+0.110%QFEX493.26+0.110%Aster493.29+0.115%Bybit493.34+0.126%Injective493.40+0.138%OKX493.44+0.146%BloFin493.46+0.150%
Hotstuff
Ondo Perps
Vest
KuCoin
Variational Omni
Coinbase International
Gate
Deribit
Nado
Orderly
SoDEX
Lighter RH
HTX
Paradex
Lighter
Arcus
Extended
Bitget
Aevo
Binance
QFEX
Aster
Bybit
Injective
OKX
BloFinPhemex493.71+0.201%
SunX494.07+0.274%
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSFTUSDT | −0.201% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Polymarket Perps MSFT-USD | −0.184% | +0.0050% | 1h | $287K | $472K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.178% | +0.0050% | 1h | $23.1M | $6.1M | 20x | as long as short |
| Phoenix MSFTshort | −0.174% | +0.0065% | 1h | $10K | $15K | 20x | |
| Hotstuff MSFT-PERP | −0.166% | +0.0088% | 1h | $40K | — | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.162% | +0.0050% | 1h | $536K | $372K | 15x | as long as short |
| Vest MSFT-USD-PERP | −0.162% | +0.0046% | 1h | — | — | 25x | as long as short |
| KuCoin MSFTUSDTM | −0.156% | +0.0100% | 8h | $1.4M | $7K | 20x | as long as short |
| Variational Omni MSFT | −0.152% | 0.0000% | 8h | $1.2M | $690K | — | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.142% | −0.0008% | 1h | $663K | $333K | 10x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | −0.136% | 0.0000% | 8h | $3.0M | $1.0M | 100x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.132% | 0.0000% | 1h | $27K | $104K | 10x | as long as short |
| Nado MSFT-PERP | −0.120% | −0.0004% | 1h | $458K | $4K | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.120% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| SoDEX MSFT-USD | −0.117% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Lighter RH MSFT | −0.113% | +0.0032% | 1h | $677K | $2.0M | 20x | as long as short |
| HTX MSFT-USDT | −0.113% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.108% | +0.0052% | 8h | $217 | — | 5x | as long as short |
| Lighter MSFT | −0.107% | +0.0032% | 1h | $1.1M | $529K | 20x | as long as short |
| Arcus MSFT-USD | −0.105% | +0.0325% | 1h | $112K | $48K | 10x | as long as short |
| edgeX MSFTUSDC | −0.104% | +0.0248% | 4h | $100K | $243K | 10x | as long as short |
| Extended MSFT_24_5-USD | −0.099% | 0.0000% | 1h | $327K | $380K | 17x | as long as short |
| Bitget MSFTUSDT | −0.095% | 0.0000% | 8h | $3.7M | $1.6M | 100x | as long as short |
| Aevo MSFT-PERP | −0.095% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Binance MSFTUSDT | −0.091% | 0.0000% | 8h | $15.8M | $13.0M | 20x | as long as short |
| QFEX MSFT-USD | −0.091% | +0.0052% | 1h | $1.2M | $3.4M | 10x | as long as short |
| Aster MSFTUSDT | −0.086% | 0.0000% | 8h | $151K | $76K | 20x | as long as short |
| Bybit MSFTUSDT | −0.075% | 0.0000% | 8h | $7.4M | $1.1M | 100x | as long as short |
| Injective MSFT/USDC PERP | −0.063% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| OKX MSFT-USDT-SWAP | −0.055% | 0.0000% | 8h | $3.1M | $1.4M | 20x | as long as short |
| BloFin MSFT-USDT | −0.051% | −0.0005% | 8h | $194K | $142K | 20x | as long as short |
| Phemex MSFTUSDTlong | 0.000% | 0.0000% | 8h | $2.1M | $481K | 10x | |
| SunX MSFT-USDT | +0.073% | 0.0000% | 8h | $6K | $3.9M | 20x | as long as short |