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Price arb /

MSFT

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After costs, if the gap returns to its 7d average, $10k−$42
spread now−0.131%7d average−0.062%fees + slippage, in and out−$35spread needed0.349%
Long on QFEXShort on ApeX Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongQFEX MSFT-USD495.240.0038pay 0.0005% / 1h30m 09s$1.2M$2.9M10x
ShortApeX Omni MSFTUSDT494.590.0100get 0.0013% / 1h30m 09s$157K$7K50x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$13.12
Funding while held
$1.87
Slippage, 4 orders
−$14.92
Fee QFEX: 5 bp × 2 orders
−$10
Fee ApeX Omni: 5 bp × 2 orders
−$10
Net
−$46.18
Spread needed to break even
0.349%
Slippage from QFEX: live order book, 5 min ago; ApeX Omni: live order book, 27 min ago.

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
LegHalf-spread$10k$100k$1M$5M
Buy QFEX live order book, 5 min ago1.31 bp6.3 bp −$66.5 bp −$6510.4 bp −$1,043doesn't fit
Sell ApeX Omni live order book, 27 min ago5.15 bp10.1 bp −$1060.8 bp −$608doesn't fitdoesn't fit

MSFT price on every exchange

against the cheapest. Click to use as the short leg.
ApeX Omni494.59cheapest
tradeXYZ494.76+0.034%Phoenix494.80+0.042%Coinbase International494.81+0.044%Variational Omni494.92+0.066%Hotstuff494.99+0.081%Polymarket Perps495.03+0.089%Arcus495.07+0.097%KuCoin495.08+0.099%Lighter RH495.09+0.101%Deribit495.16+0.115%Gate495.18+0.119%Bitget495.22+0.127%edgeX495.22+0.127%Lighter495.23+0.129%Bybit495.24+0.131%
QFEX495.24+0.131%
Orderly495.25+0.133%Extended495.26+0.134%Aevo495.26+0.135%Vest495.28+0.140%SoDEX495.29+0.142%HTX495.29+0.142%Paradex495.29+0.142%OKX495.32+0.148%Injective495.37+0.158%Binance495.40+0.163%Nado495.44+0.171%Ondo Perps495.44+0.172%Phemex495.60+0.204%Aster495.67+0.219%BloFin496.04+0.293%SunX496.15+0.315%

MSFT on 33 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
ApeX Omni MSFTUSDTshort−0.131%+0.0100%1h$157K$7K50x
tradeXYZ xyz:MSFT−0.097%+0.0050%1h$23.4M$5.3M20xas long as short
Phoenix MSFT−0.089%+0.0032%1h$10K$15K20xas long as short
Coinbase International MSFT-PERP-INTX−0.087%−0.0008%1h$663K$319K10xas long as short
Variational Omni MSFT−0.065%0.0000%8h$1.3M$620K—as long as short
Hotstuff MSFT-PERP−0.050%−0.1600%1h$40K—20xas long as short
Polymarket Perps MSFT-USD−0.042%+0.0050%1h$288K$212K10xas long as short
Arcus MSFT-USD−0.034%+0.0298%1h$112K$49K10xas long as short
KuCoin MSFTUSDTM−0.032%+0.0100%8h$1.5M$6K20xas long as short
Lighter RH MSFT−0.030%+0.0032%1h$673K$2.6M20xas long as short
Show all 33 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Deribit MSFT_USDC-PERPETUAL−0.016%0.0000%1h$23K$89K10xas long as short
Gate MSFT_USDT−0.012%0.0000%8h$3.0M$793K100xas long as short
Bitget MSFTUSDT−0.004%0.0000%8h$3.6M$1.1M100xas long as short
edgeX MSFTUSDC−0.004%+0.0318%4h$101K$244K10xas long as short
Lighter MSFT−0.002%+0.0032%1h$1.1M$465K20xas long as short
Bybit MSFTUSDT0.000%0.0000%8h$7.2M$695K100xas long as short
QFEX MSFT-USDlong0.000%+0.0038%1h$1.2M$2.9M10x
Orderly PERP_MSFT_USDC_mythos+0.002%+0.0100%8h$8K—10xas long as short
Extended MSFT_24_5-USD+0.003%0.0000%1h$335K$365K17xas long as short
Aevo MSFT-PERP+0.003%+0.0104%1h$54—10xas long as short
Vest MSFT-USD-PERP+0.008%+0.0046%1h——25xas long as short
SoDEX MSFT-USD+0.010%+0.0050%1h$59K$3K10xas long as short
HTX MSFT-USDT+0.010%0.0000%8h$57K$231K20xas long as short
Paradex MSFT-USD-PERP+0.011%+0.0051%8h$218—5xas long as short
OKX MSFT-USDT-SWAP+0.016%0.0000%8h$2.9M$401K20xas long as short
Injective MSFT/USDC PERP+0.026%+0.0220%1h$113K$173K30xas long as short
Binance MSFTUSDT+0.032%0.0000%8h$15.8M$7.3M20xas long as short
Nado MSFT-PERP+0.040%−0.0006%1h$460K$1K20xas long as short
Ondo Perps MSFT-USD.P+0.040%+0.0050%1h$530K$326K15xas long as short
Phemex MSFTUSDT+0.073%0.0000%8h$2.0M$347K10xas long as short
Aster MSFTUSDT+0.087%0.0000%8h$150K$4K20xas long as short
BloFin MSFT-USDT+0.162%−0.0014%8h$190K$104K20xas long as short
SunX MSFT-USDT+0.184%0.0000%8h$6K$2.3M20xas long as short