Spread before costs (cost unknown: a leg has no order-book sample)−0.133%
7d average—if it closes, per $10,000$13funding while held, a day−$0.48
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 494.48 | 0.0016 | pay 0.0002% / 1h | 29m 41s | $10K | $15K | 20x |
| Short | OKX MSFT-USDT-SWAP | 493.82 | 0 | get 0.0000% / 8h | 1h 29m | $3.0M | $893K | 20x |
Phoenix MSFT
OKX MSFT-USDT-SWAPPrice 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
- −$13.35
- Funding while held
- −$0.48
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$30.83
- Spread needed to break even
- 0.170%
Slippage unknown: Phoenix: no order-book sample; OKX: live order book, 4 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0016%
- Per $10,000 a day
- −$0.48
- 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 OKX live order book, 4 min ago | 1.01 bp | 10.2 bp −$10 | 16.7 bp −$167 | doesn't fit | 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.Hotstuff493.37cheapesttradeXYZ493.41+0.008%Ondo Perps493.43+0.012%Paradex493.50+0.026%Deribit493.50+0.026%Extended493.54+0.034%Arcus493.55+0.036%Gate493.58+0.043%Vest493.59+0.045%Polymarket Perps493.59+0.045%KuCoin493.60+0.047%QFEX493.63+0.053%Bitget493.64+0.055%HTX493.65+0.057%Bybit493.69+0.065%Lighter RH493.72+0.071%Binance493.73+0.073%Orderly493.73+0.073%SoDEX493.75+0.077%Coinbase International493.75+0.077%Aevo493.77+0.082%Lighter493.78+0.083%Nado493.79+0.084%Aster493.80+0.087%
Hotstuff
tradeXYZ
Ondo Perps
Paradex
Deribit
Extended
Arcus
Gate
Vest
Polymarket Perps
KuCoin
QFEX
Bitget
HTX
Bybit
Lighter RH
Binance
Orderly
SoDEX
Coinbase International
Aevo
Lighter
Nado
AsterOKX493.82+0.091%
Phemex494.18+0.164%ApeX Omni494.20+0.168%Variational Omni494.25+0.178%BloFin494.33+0.195%
Phemex
ApeX Omni
Variational Omni
BloFinPhoenix494.48+0.225%
edgeX494.59+0.246%SunX494.72+0.274%Injective494.74+0.278%
SunX
InjectiveMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERP | −0.224% | −0.1296% | 1h | $40K | — | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.216% | +0.0050% | 1h | $23.2M | $5.9M | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.212% | +0.0050% | 1h | $539K | $369K | 15x | as long as short |
| Paradex MSFT-USD-PERP | −0.199% | +0.0052% | 8h | $217 | — | 5x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.198% | 0.0000% | 1h | $27K | $98K | 10x | as long as short |
| Extended MSFT_24_5-USD | −0.190% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| Arcus MSFT-USD | −0.188% | +0.0151% | 1h | $112K | $49K | 10x | as long as short |
| Gate MSFT_USDT | −0.182% | 0.0000% | 8h | $3.0M | $971K | 100x | as long as short |
| Vest MSFT-USD-PERP | −0.180% | +0.0046% | 1h | — | — | 25x | as long as short |
| Polymarket Perps MSFT-USD | −0.180% | +0.0050% | 1h | $291K | $411K | 10x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.178% | +0.0100% | 8h | $1.5M | $6K | 20x | as long as short |
| QFEX MSFT-USD | −0.172% | +0.0038% | 1h | $1.1M | $3.2M | 10x | as long as short |
| Bitget MSFTUSDT | −0.170% | 0.0000% | 8h | $3.7M | $1.5M | 100x | as long as short |
| HTX MSFT-USDT | −0.168% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Bybit MSFTUSDT | −0.160% | 0.0000% | 8h | $7.2M | $943K | 100x | as long as short |
| Lighter RH MSFT | −0.154% | +0.0032% | 1h | $686K | $2.1M | 20x | as long as short |
| Binance MSFTUSDT | −0.152% | 0.0000% | 8h | $15.7M | $12.0M | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.152% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| SoDEX MSFT-USD | −0.148% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.148% | −0.0016% | 1h | $665K | $328K | 10x | as long as short |
| Aevo MSFT-PERP | −0.143% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Lighter MSFT | −0.142% | +0.0040% | 1h | $1.1M | $523K | 20x | as long as short |
| Nado MSFT-PERP | −0.141% | −0.0017% | 1h | $459K | $3K | 20x | as long as short |
| Aster MSFTUSDT | −0.138% | 0.0000% | 8h | $153K | $60K | 20x | as long as short |
| OKX MSFT-USDT-SWAPshort | −0.133% | 0.0000% | 8h | $3.0M | $893K | 20x | |
| Phemex MSFTUSDT | −0.061% | 0.0000% | 8h | $2.1M | $424K | 10x | as long as short |
| ApeX Omni MSFTUSDT | −0.057% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Variational Omni MSFT | −0.047% | 0.0000% | 8h | $1.3M | $665K | — | as long as short |
| BloFin MSFT-USDT | −0.030% | +0.0015% | 8h | $191K | $124K | 20x | as long as short |
| Phoenix MSFTlong | 0.000% | +0.0016% | 1h | $10K | $15K | 20x | |
| edgeX MSFTUSDC | +0.021% | −0.0989% | 4h | $101K | $245K | 10x | as long as short |
| SunX MSFT-USDT | +0.049% | 0.0000% | 8h | $6K | $3.5M | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.053% | +0.0220% | 1h | $113K | $184K | 30x | as long as short |