Spread before costs (cost unknown: a leg has no order-book sample)−0.118%
7d average−0.050%if it closes, per $10,000$12funding while held, a day+$0.00
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex MSFTUSDT | 498.70 | 0 | get 0.0000% / 8h | 5h 12m | $2.1M | $670K | 10x |
| Short | Variational Omni MSFT | 498.11 | 0 | get 0.0000% / 8h | 5h 12m | $1.3M | $704K | — |
Phemex MSFTUSDT
Variational Omni 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
- −$11.78
- Funding while held
- $0
- Slippage, 4 orders
- no order book: not counted
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$23.78
- Spread needed to break even
- 0.120%
Slippage unknown: Phemex: live order book, 2 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.
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 | 4.81 bp | 31.2 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 3 min ago | 2.53 bp | doesn't fit | 9.4 bp −$94 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International497.71cheapestPolymarket Perps498.07+0.072%Ondo Perps498.09+0.076%Nado498.10+0.079%
Coinbase International
Polymarket Perps
Ondo Perps
NadoVariational Omni498.11+0.081%
ApeX Omni498.13+0.084%Phoenix498.19+0.096%Hotstuff498.21+0.100%KuCoin498.30+0.119%Vest498.30+0.119%edgeX498.38+0.134%HTX498.38+0.135%BloFin498.54+0.167%Aster498.55+0.169%tradeXYZ498.55+0.169%Gate498.57+0.173%Deribit498.58+0.175%Lighter RH498.63+0.185%SoDEX498.65+0.189%Orderly498.66+0.191%Extended498.68+0.194%QFEX498.68+0.195%Aevo498.69+0.196%
ApeX Omni
Phoenix
Hotstuff
KuCoin
Vest
HTX
BloFin
Aster
tradeXYZ
Gate
Deribit
Lighter RH
SoDEX
Orderly
Extended
QFEX
AevoPhemex498.70+0.199%
Injective498.75+0.209%OKX498.77+0.213%Binance498.79+0.217%Bitget498.79+0.217%Paradex498.81+0.220%Arcus498.81+0.221%Lighter498.85+0.229%Bybit498.88+0.235%SunX499.21+0.301%
Injective
OKX
Binance
Bitget
Paradex
Arcus
Lighter
Bybit
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 | −0.199% | −0.0056% | 1h | $683K | $362K | 10x | as long as short |
| Polymarket Perps MSFT-USD | −0.126% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.122% | +0.0050% | 1h | $509K | $452K | 15x | as long as short |
| Nado MSFT-PERP | −0.119% | 0.0000% | 1h | $447K | $24K | 20x | as long as short |
| Variational Omni MSFTshort | −0.118% | 0.0000% | 8h | $1.3M | $704K | — | |
| ApeX Omni MSFTUSDT | −0.114% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Phoenix MSFT | −0.102% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.098% | +0.0056% | 1h | $40K | — | 20x | as long as short |
| KuCoin MSFTUSDTM | −0.080% | +0.0100% | 8h | $1.5M | $11K | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.080% | +0.0046% | 1h | — | — | 25x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.065% | −0.0661% | 4h | $101K | $245K | 10x | as long as short |
| HTX MSFT-USDT | −0.064% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| BloFin MSFT-USDT | −0.032% | −0.0020% | 8h | $192K | $194K | 20x | as long as short |
| Aster MSFTUSDT | −0.030% | 0.0000% | 8h | $156K | $86K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.030% | +0.0050% | 1h | $22.1M | $8.8M | 20x | as long as short |
| Gate MSFT_USDT | −0.026% | 0.0000% | 8h | $3.0M | $1.4M | 100x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.024% | 0.0000% | 1h | $27K | $114K | 10x | as long as short |
| Lighter RH MSFT | −0.014% | +0.0032% | 1h | $648K | $2.1M | 20x | as long as short |
| SoDEX MSFT-USD | −0.010% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.008% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Extended MSFT_24_5-USD | −0.005% | 0.0000% | 1h | $372K | $410K | 17x | as long as short |
| QFEX MSFT-USD | −0.004% | +0.0044% | 1h | $1.2M | $4.9M | 10x | as long as short |
| Aevo MSFT-PERP | −0.003% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| Phemex MSFTUSDTlong | 0.000% | 0.0000% | 8h | $2.1M | $670K | 10x | |
| Injective MSFT/USDC PERP | +0.010% | +0.0220% | 1h | $114K | $88K | 30x | as long as short |
| OKX MSFT-USDT-SWAP | +0.014% | 0.0000% | 8h | $3.0M | $2.1M | 20x | as long as short |
| Binance MSFTUSDT | +0.018% | 0.0000% | 8h | $15.6M | $17.1M | 20x | as long as short |
| Bitget MSFTUSDT | +0.018% | +0.0031% | 8h | $3.7M | $1.7M | 100x | as long as short |
| Paradex MSFT-USD-PERP | +0.021% | +0.0050% | 8h | $219 | — | 5x | as long as short |
| Arcus MSFT-USD | +0.022% | +0.0573% | 1h | $112K | $75K | 10x | as long as short |
| Lighter MSFT | +0.030% | +0.0072% | 1h | $1.1M | $538K | 20x | as long as short |
| Bybit MSFTUSDT | +0.036% | 0.0000% | 8h | $7.3M | $1.5M | 100x | as long as short |
| SunX MSFT-USDT | +0.102% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |