Spread before costs (cost unknown: a leg has no order-book sample)+0.002%
7d average—if it closes, per $10,000$0funding while held, a day−$1.87
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 496.58 | 0.0048 | pay 0.0006% / 1h | 53m 48s | $10K | $15K | 20x |
| Short | BloFin MSFT-USDT | 496.59 | −0.0014 | pay 0.0014% / 8h | 6h 53m | $190K | $172K | 20x |
Phoenix MSFT
BloFin MSFT-USDTPrice 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
- $0.2
- Funding while held
- −$1.87
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$20.67
- Spread needed to break even
- 0.190%
Slippage unknown: Phoenix: no order-book sample; BloFin: live order book, 43 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0062%
- Per $10,000 a day
- −$1.87
- 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell BloFin live order book, 43 min ago | 1.01 bp | 8.3 bp −$8 | 11.8 bp −$118 | 25.5 bp −$2,553 | doesn't fit |
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.Ondo Perps496.15cheapestCoinbase International496.17+0.004%Polymarket Perps496.25+0.020%tradeXYZ496.27+0.024%Gate496.27+0.024%Hotstuff496.33+0.036%Nado496.35+0.040%HTX496.39+0.048%Variational Omni496.42+0.054%Lighter RH496.43+0.056%SoDEX496.43+0.056%KuCoin496.45+0.060%Vest496.45+0.060%Deribit496.45+0.060%Orderly496.50+0.071%Bybit496.51+0.073%Aevo496.53+0.077%Binance496.54+0.079%Paradex496.54+0.079%Extended496.56+0.083%Arcus496.57+0.085%
Ondo Perps
Coinbase International
Polymarket Perps
tradeXYZ
Gate
Hotstuff
Nado
HTX
Variational Omni
Lighter RH
SoDEX
KuCoin
Vest
Deribit
Orderly
Bybit
Aevo
Binance
Paradex
Extended
ArcusPhoenix496.58+0.087%
OKX496.59+0.089%QFEX496.59+0.089%Bitget496.59+0.089%
OKX
QFEX
BitgetBloFin496.59+0.089%
edgeX496.59+0.089%Lighter496.64+0.099%ApeX Omni496.67+0.105%Injective496.71+0.113%Aster496.74+0.119%Phemex496.81+0.133%SunX497.27+0.226%
Lighter
ApeX Omni
Injective
Aster
Phemex
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Ondo Perps MSFT-USD.P | −0.087% | +0.0050% | 1h | $502K | $438K | 15x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.083% | −0.0056% | 1h | $668K | $343K | 10x | as long as short |
| Polymarket Perps MSFT-USD | −0.066% | +0.0050% | 1h | $301K | $443K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.062% | +0.0050% | 1h | $22.1M | $7.8M | 20x | as long as short |
| Gate MSFT_USDT | −0.062% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| Hotstuff MSFT-PERP | −0.050% | +0.0040% | 1h | $40K | — | 20x | as long as short |
| Nado MSFT-PERP | −0.047% | −0.0007% | 1h | $461K | $5K | 20x | as long as short |
| HTX MSFT-USDT | −0.038% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| Variational Omni MSFT | −0.033% | 0.0000% | 8h | $1.3M | $715K | — | as long as short |
| Lighter RH MSFT | −0.030% | +0.0032% | 1h | $666K | $2.1M | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| SoDEX MSFT-USD | −0.030% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.026% | +0.0100% | 8h | $1.5M | $9K | 20x | as long as short |
| Vest MSFT-USD-PERP | −0.026% | +0.0046% | 1h | — | — | 25x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.026% | 0.0000% | 1h | $27K | $113K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.016% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Bybit MSFTUSDT | −0.014% | 0.0000% | 8h | $7.3M | $1.4M | 100x | as long as short |
| Aevo MSFT-PERP | −0.009% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| Binance MSFTUSDT | −0.008% | 0.0000% | 8h | $15.7M | $15.4M | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.007% | +0.0050% | 8h | $218 | — | 5x | as long as short |
| Extended MSFT_24_5-USD | −0.004% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| Arcus MSFT-USD | −0.002% | +0.0577% | 1h | $112K | $52K | 10x | as long as short |
| Phoenix MSFTlong | 0.000% | +0.0048% | 1h | $10K | $15K | 20x | |
| OKX MSFT-USDT-SWAP | +0.002% | 0.0000% | 8h | $3.0M | $1.7M | 20x | as long as short |
| QFEX MSFT-USD | +0.002% | +0.0028% | 1h | $1.2M | $4.3M | 10x | as long as short |
| Bitget MSFTUSDT | +0.002% | 0.0000% | 8h | $3.7M | $1.7M | 100x | as long as short |
| BloFin MSFT-USDTshort | +0.002% | −0.0014% | 8h | $190K | $172K | 20x | |
| edgeX MSFTUSDC | +0.002% | +0.0943% | 4h | $101K | $243K | 10x | as long as short |
| Lighter MSFT | +0.012% | +0.0032% | 1h | $1.1M | $540K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.018% | +0.0100% | 1h | $158K | $7K | 50x | as long as short |
| Injective MSFT/USDC PERP | +0.026% | +0.0220% | 1h | $114K | $125K | 30x | as long as short |
| Aster MSFTUSDT | +0.032% | 0.0000% | 8h | $156K | $80K | 20x | as long as short |
| Phemex MSFTUSDT | +0.046% | 0.0000% | 8h | $2.1M | $587K | 10x | as long as short |
| SunX MSFT-USDT | +0.139% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |