MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0089%/8h= +9.7% APRnext payment +$0.11 per $10,000 · paid last 24h +0.011%

Price spread now: Deribit against QFEX−0.070%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on QFEX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.065%+$6 on $10k

Price spread, last 3 days (all we have)+0.088%+$9 · spread now −0.070%, 7d avg −0.023%

Together, before fees+0.153%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.046% cheaper against QFEX than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.023%). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	502.04	0.0040	pay 0.0005% / 1h	44m 49s	$1.2M	$5.8M	10x
Short	Deribit MSFT_USDC-PERPETUAL	501.69	0.0129	get 0.0016% / 1h	44m 49s	$27K	$104K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against QFEX. 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 QFEXbpFee DeribitbpOrdersPrice spread, now −0.070%Rate

Funding earned: $18.66
Price spread: −0.070% → −0.023%: −$4.64
Slippage, 4 orders: −$13.25
Fee QFEX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$16.23
Costs to cover: 0.303%
Break-even: 13.1 days

Slippage from QFEX: live order book, 4 min ago; Deribit: live order book, 38 min ago.

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, 4 min ago	1.79 bp	6.8 bp −$7	8.8 bp −$88	16.4 bp −$1,641	doesn't fit
Sell Deribit live order book, 38 min ago	0.10 bp	13.1 bp −$13	15.3 bp −$153	doesn't fit	doesn't fit

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
Hotstuff MSFT-PERP	−0.0056%	1h	501.60	−0.088%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	−0.006%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.04	0.000%	$372K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.13	+0.018%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.14	+0.020%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.80	−0.048%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.14	+0.020%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.02	−0.005%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.11	+0.014%	$19K	$321K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.95	+0.181%	$6K	$4.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.092%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.04	0.000%	$59K	$229K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.33	+0.058%	$2.2M	$768K	10x	as long as short
Bybit MSFTUSDT	+0.0007%	8h	502.14	+0.020%	$7.4M	$1.7M	100x	as long as short
Nado MSFT-PERP	+0.0016%	1h	501.59	−0.089%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	502.13	+0.018%	$188K	$210K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.83	−0.042%	$653K	$2.1M	20x	as long as short
QFEX MSFT-USDlong	+0.0040%	1h	502.04	long leg	$1.2M	$5.8M	10x
Vest MSFT-USD-PERP	+0.0046%	1h	501.91	−0.026%	—	—	25x	as long as short
edgeX MSFTUSDC	+0.0050%	4h	502.06	+0.004%	$102K	$244K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.57	−0.094%	$22.3M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.63	−0.082%	$305K	$684K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.06	+0.004%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.64	−0.080%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.90	−0.028%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.76	−0.056%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.58	−0.092%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.51	−0.106%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.00	−0.008%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.99	−0.010%	$1.1M	$589K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.05	+0.002%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUALshort	+0.0129%	1h	501.69	−0.070%	$27K	$104K	10x
Arcus MSFT-USD	+0.0200%	1h	501.91	−0.026%	$110K	$90K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.17	+0.225%	$115K	$45K	30x	as long as short