After costs, if the gap returns to its 7d average, $10k−$32
spread now+0.028%7d average+0.002%fees + slippage, in and out−$35spread needed0.348%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX MSFT-USD | 495.66 | 0.0038 | pay 0.0005% / 1h | 31m 26s | $1.2M | $2.9M | 10x |
| Short | Bybit MSFTUSDT | 495.80 | 0 | get 0.0000% / 8h | 2h 31m | $7.2M | $687K | 100x |
QFEX MSFT-USD
Bybit MSFTUSDTPrice 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
- $2.82
- Funding while held
- −$1.13
- Slippage, 4 orders
- −$13.8
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$33.1
- Spread needed to break even
- 0.348%
Slippage from QFEX: live order book, 3 min ago; Bybit: live order book, 3 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0038%
- Per $10,000 a day
- −$1.13
- 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 QFEX live order book, 3 min ago | 1.31 bp | 6.3 bp −$6 | 6.5 bp −$65 | 10.4 bp −$1,043 | doesn't fit |
| Sell Bybit live order book, 3 min ago | 1.11 bp | 10.6 bp −$11 | 18.5 bp −$185 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.ApeX Omni494.59cheapestCoinbase International494.76+0.034%Phoenix494.80+0.042%Deribit494.91+0.065%SoDEX494.92+0.067%HTX494.94+0.071%Hotstuff494.99+0.081%KuCoin495.10+0.103%Aevo495.14+0.111%Ondo Perps495.16+0.115%Arcus495.21+0.125%edgeX495.22+0.127%Nado495.29+0.141%BloFin495.35+0.154%Lighter RH495.36+0.156%Polymarket Perps495.36+0.156%tradeXYZ495.37+0.158%Lighter495.39+0.162%Extended495.41+0.167%Vest495.43+0.170%Bitget495.54+0.192%Paradex495.56+0.196%Orderly495.57+0.198%Phemex495.57+0.198%Gate495.60+0.204%
ApeX Omni
Coinbase International
Phoenix
Deribit
SoDEX
HTX
Hotstuff
KuCoin
Aevo
Ondo Perps
Arcus
Nado
BloFin
Lighter RH
Polymarket Perps
tradeXYZ
Lighter
Extended
Vest
Bitget
Paradex
Orderly
Phemex
GateQFEX495.66+0.216%
Aster495.74+0.232%
AsterBybit495.80+0.245%
OKX495.80+0.245%Binance495.85+0.254%SunX495.87+0.259%Variational Omni495.93+0.272%Injective496.03+0.291%
OKX
Binance
SunX
Variational Omni
InjectiveMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSFTUSDT | −0.216% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.182% | −0.0008% | 1h | $669K | $304K | 10x | as long as short |
| Phoenix MSFT | −0.174% | +0.0032% | 1h | $10K | $15K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.151% | 0.0000% | 1h | $23K | $89K | 10x | as long as short |
| SoDEX MSFT-USD | −0.149% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| HTX MSFT-USDT | −0.145% | 0.0000% | 8h | $57K | $230K | 20x | as long as short |
| Hotstuff MSFT-PERP | −0.135% | −0.1600% | 1h | $40K | — | 20x | as long as short |
| KuCoin MSFTUSDTM | −0.113% | +0.0100% | 8h | $1.5M | $6K | 20x | as long as short |
| Aevo MSFT-PERP | −0.105% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.101% | +0.0050% | 1h | $530K | $325K | 15x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Arcus MSFT-USD | −0.091% | +0.0298% | 1h | $112K | $49K | 10x | as long as short |
| edgeX MSFTUSDC | −0.089% | +0.0318% | 4h | $101K | $244K | 10x | as long as short |
| Nado MSFT-PERP | −0.075% | −0.0007% | 1h | $460K | $1K | 20x | as long as short |
| BloFin MSFT-USDT | −0.063% | +0.0007% | 8h | $190K | $103K | 20x | as long as short |
| Lighter RH MSFT | −0.061% | +0.0032% | 1h | $674K | $2.6M | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.061% | +0.0050% | 1h | $289K | $212K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.059% | +0.0050% | 1h | $23.4M | $5.2M | 20x | as long as short |
| Lighter MSFT | −0.054% | +0.0032% | 1h | $1.1M | $463K | 20x | as long as short |
| Extended MSFT_24_5-USD | −0.050% | 0.0000% | 1h | $335K | $365K | 17x | as long as short |
| Vest MSFT-USD-PERP | −0.046% | +0.0046% | 1h | — | — | 25x | as long as short |
| Bitget MSFTUSDT | −0.024% | 0.0000% | 8h | $3.6M | $1.0M | 100x | as long as short |
| Paradex MSFT-USD-PERP | −0.020% | +0.0050% | 8h | $218 | — | 5x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.018% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Phemex MSFTUSDT | −0.018% | 0.0000% | 8h | $2.0M | $344K | 10x | as long as short |
| Gate MSFT_USDT | −0.012% | 0.0000% | 8h | $3.0M | $789K | 100x | as long as short |
| QFEX MSFT-USDlong | 0.000% | +0.0038% | 1h | $1.2M | $2.9M | 10x | |
| Aster MSFTUSDT | +0.016% | 0.0000% | 8h | $150K | $4K | 20x | as long as short |
| Bybit MSFTUSDTshort | +0.028% | 0.0000% | 8h | $7.2M | $687K | 100x | |
| OKX MSFT-USDT-SWAP | +0.028% | 0.0000% | 8h | $2.9M | $397K | 20x | as long as short |
| Binance MSFTUSDT | +0.037% | 0.0000% | 8h | $15.8M | $7.2M | 20x | as long as short |
| SunX MSFT-USDT | +0.042% | 0.0000% | 8h | $6K | $2.3M | 20x | as long as short |
| Variational Omni MSFT | +0.055% | 0.0000% | 8h | $1.3M | $620K | — | as long as short |
| Injective MSFT/USDC PERP | +0.075% | +0.0220% | 1h | $114K | $173K | 30x | as long as short |