MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0026%/8h= −2.9% APRnext payment −$0.03 per $10,000 · paid last 24h −0.003%

Price spread now: QFEX against Phoenix+0.024%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. QFEX is 0.024% dearer against Phoenix than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MSFT	503.47	0.0064	pay 0.0008% / 1h	35m 20s	$11K	$15K	20x
Short	QFEX MSFT-USD	503.59	0.0037	get 0.0005% / 1h	35m 20s	$1.2M	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Phoenix. 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 PhoenixbpFee QFEXbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$5.52
Price spread: +0.024% → 0.000%: $2.38
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$20.14
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; QFEX: live order book, 3 min ago. Net counts fees only.

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 QFEX live order book, 3 min ago	1.59 bp	6.6 bp −$7	7.1 bp −$71	15.1 bp −$1,509	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 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
Nado MSFT-PERP	−0.0018%	1h	503.42	−0.010%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.71	+0.047%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.58	+0.021%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.71	+0.047%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.44	−0.006%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.89	+0.083%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.47	0.000%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.65	+0.036%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.65	+0.035%	$1.3M	$407K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.78	+0.061%	$19K	$324K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	504.50	+0.205%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.97	−0.099%	$682K	$448K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.63	+0.032%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.93	+0.091%	$2.2M	$819K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	503.75	+0.056%	$190K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.63	+0.032%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.54	+0.014%	$707K	$1.9M	20x	as long as short
QFEX MSFT-USDshort	+0.0037%	1h	503.59	+0.024%	$1.2M	$4.6M	10x
Arcus MSFT-USD	+0.0040%	1h	503.47	0.000%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.75	+0.056%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.24	−0.046%	$22.4M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.44	−0.006%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.51	+0.008%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.32	−0.030%	$513K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.62	+0.029%	$222	—	5x	as long as short
Phoenix MSFTlong	+0.0064%	1h	503.47	long leg	$11K	$15K	20x
Hotstuff MSFT-PERP	+0.0064%	1h	503.25	−0.044%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.13	−0.068%	$1.6M	$63K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.22	−0.050%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.65	+0.036%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.64	+0.033%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.90	+0.085%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0286%	1h	503.60	+0.026%	$27K	$44K	10x	as long as short
edgeX MSFTUSDC	+0.0983%	4h	503.71	+0.047%	$102K	$243K	10x	as long as short