Funding you earn now, next payment 07:00 UTC+0.0181%/8h= +19.8% APRnext payment +$0.23 per $10,000 · paid last 24h +0.054%
Price spread now: Injective against QFEX+0.081%7-day average −0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$330.332% of the position
Funding, last 4 days (all we have)+0.220%+$22 on $10k
+Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.081%, 7d avg −0.027%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.109% dearer against QFEX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.027%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX MSFT-USD | 503.63 | 0.0039 | pay 0.0005% / 1h | 11m 42s | $1.2M | $4.8M | 10x |
| Short | Injective MSFT/USDC PERP | 504.04 | 0.0220 | get 0.0028% / 1h | 11m 42s | $115K | $45K | 30x |
QFEX MSFT-USD
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against QFEX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $37.93
- Price spread: +0.081% → −0.027%
- $10.86
- Slippage, 4 orders
- −$23.22
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $15.56
- Costs to cover
- 0.332%
- Break-even
- 4.1 days
Slippage from QFEX: live order book, 7 min ago; Injective: live order book, 32 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, 7 min ago | 0.79 bp | 5.8 bp −$6 | 8.3 bp −$83 | 16.6 bp −$1,665 | doesn't fit |
| Sell Injective live order book, 32 min ago | 10.13 bp | 10.1 bp −$10 | 10.1 bp −$101 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0160% | 4h | 503.60 | −0.005% | $102K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0048% | 1h | 503.66 | +0.006% | $682K | $500K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.44 | −0.038% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.62 | −0.001% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.76 | +0.026% | $15.8M | $19.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.47 | −0.032% | $7.3M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.85 | +0.044% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.54 | −0.018% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.67 | +0.008% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.61 | −0.005% | $1.3M | $499K | — | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.74 | +0.021% | $19K | $328K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.55 | +0.183% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.44 | −0.038% | $27K | $44K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.69 | +0.012% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.68 | +0.010% | $2.2M | $822K | 10x | as long as short |
| Nado MSFT-PERP | +0.0025% | 1h | 503.42 | −0.043% | $414K | $67K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0028% | 8h | 503.80 | +0.034% | $190K | $207K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.55 | −0.016% | $700K | $2.0M | 20x | as long as short |
| QFEX MSFT-USDlong | +0.0039% | 1h | 503.63 | long leg | $1.2M | $4.8M | 10x | |
| Arcus MSFT-USD | +0.0040% | 1h | 503.41 | −0.044% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.69 | +0.012% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.23 | −0.079% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.40 | −0.046% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.57 | −0.012% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.18 | −0.089% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 503.62 | −0.002% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.28 | −0.069% | $11K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0080% | 1h | 503.25 | −0.075% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.10 | −0.105% | $1.6M | $60K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.15 | −0.095% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.57 | −0.012% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.67 | +0.009% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0152% | 1h | 503.79 | +0.032% | $1.2M | $517K | 20x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 504.04 | +0.081% | $115K | $45K | 30x |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
BloFin MSFT-USDT
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT