Spread before costs (cost unknown: a leg has no order-book sample)−0.083%
7d average—if it closes, per $10,000$8funding while held, a day−$0.57
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 493.97 | 0.0065 | pay 0.0008% / 1h | 38m 21s | $10K | $15K | 20x |
| Short | Vest MSFT-USD-PERP | 493.56 | 0.0046 | get 0.0006% / 1h | 38m 21s | — | — | 25x |
Phoenix MSFT
Vest MSFT-USD-PERPPrice 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
- −$8.3
- Funding while held
- −$0.57
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Vest: 1 bp × 2 orders
- −$2
- Net
- −$17.87
- Spread needed to break even
- 0.090%
Slippage unknown: Phoenix: no order-book sample; Vest: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0019%
- Per $10,000 a day
- −$0.57
- 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 Vest no order-book sample | — | — | — | — | — |
Phoenix and Vest: 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.Coinbase International493.02cheapestKuCoin493.28+0.053%Polymarket Perps493.50+0.097%tradeXYZ493.51+0.099%
Coinbase International
KuCoin
Polymarket Perps
tradeXYZVest493.56+0.110%
Nado493.56+0.110%Hotstuff493.59+0.116%Ondo Perps493.61+0.120%Lighter RH493.69+0.136%Paradex493.74+0.146%Gate493.74+0.146%Deribit493.77+0.152%Lighter493.78+0.154%Orderly493.78+0.154%Arcus493.81+0.160%QFEX493.83+0.164%ApeX Omni493.83+0.164%Extended493.86+0.170%Bitget493.86+0.170%Aevo493.88+0.174%Binance493.89+0.176%HTX493.89+0.176%Bybit493.90+0.178%SoDEX493.92+0.183%OKX493.93+0.185%
Nado
Hotstuff
Ondo Perps
Lighter RH
Paradex
Gate
Deribit
Lighter
Orderly
Arcus
QFEX
ApeX Omni
Extended
Bitget
Aevo
Binance
HTX
Bybit
SoDEX
OKXPhoenix493.97+0.193%
BloFin494.08+0.215%Variational Omni494.09+0.217%edgeX494.09+0.218%Phemex494.10+0.219%Aster494.36+0.272%Injective494.42+0.284%SunX494.86+0.373%
BloFin
Variational Omni
Phemex
Aster
Injective
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 | −0.192% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.140% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.095% | +0.0050% | 1h | $288K | $479K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.093% | +0.0050% | 1h | $22.1M | $7.7M | 20x | as long as short |
| Vest MSFT-USD-PERPshort | −0.083% | +0.0046% | 1h | — | — | 25x | |
| Nado MSFT-PERP | −0.083% | −0.0014% | 1h | $459K | $5K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.077% | +0.0024% | 1h | $40K | — | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.073% | +0.0050% | 1h | $533K | $384K | 15x | as long as short |
| Lighter RH MSFT | −0.057% | +0.0032% | 1h | $655K | $2.1M | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.047% | +0.0051% | 8h | $217 | — | 5x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | −0.047% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.040% | 0.0000% | 1h | $27K | $110K | 10x | as long as short |
| Lighter MSFT | −0.038% | +0.0032% | 1h | $1.1M | $536K | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.038% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Arcus MSFT-USD | −0.032% | +0.0442% | 1h | $112K | $50K | 10x | as long as short |
| QFEX MSFT-USD | −0.028% | +0.0042% | 1h | $1.1M | $3.9M | 10x | as long as short |
| ApeX Omni MSFTUSDT | −0.028% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Extended MSFT_24_5-USD | −0.022% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| Bitget MSFTUSDT | −0.022% | +0.0002% | 8h | $3.7M | $1.6M | 100x | as long as short |
| Aevo MSFT-PERP | −0.019% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Binance MSFTUSDT | −0.016% | +0.0013% | 8h | $15.6M | $14.6M | 20x | as long as short |
| HTX MSFT-USDT | −0.016% | 0.0000% | 8h | $58K | $232K | 20x | as long as short |
| Bybit MSFTUSDT | −0.014% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| SoDEX MSFT-USD | −0.010% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| OKX MSFT-USDT-SWAP | −0.008% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| Phoenix MSFTlong | 0.000% | +0.0065% | 1h | $10K | $15K | 20x | |
| BloFin MSFT-USDT | +0.022% | +0.0001% | 8h | $195K | $161K | 20x | as long as short |
| Variational Omni MSFT | +0.024% | 0.0000% | 8h | $1.2M | $705K | — | as long as short |
| edgeX MSFTUSDC | +0.025% | −0.0627% | 4h | $101K | $244K | 10x | as long as short |
| Phemex MSFTUSDT | +0.026% | 0.0000% | 8h | $2.1M | $540K | 10x | as long as short |
| Aster MSFTUSDT | +0.079% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.091% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| SunX MSFT-USDT | +0.180% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |