After costs, if the gap returns to its 7d average, $10k−$82
spread now+0.008%7d average+0.059%fees + slippage, in and out−$77spread needed0.771%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX MSFT-USD | 499.43 | 0.0044 | pay 0.0005% / 1h | 48m 15s | $1.2M | $4.6M | 10x |
| Short | Phemex MSFTUSDT | 499.47 | 0 | get 0.0000% / 8h | 5h 48m | $2.1M | $644K | 10x |
QFEX MSFT-USD
Phemex 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
- $0.8
- Funding while held
- −$1.31
- Slippage, 4 orders
- −$55.05
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$77.56
- Spread needed to break even
- 0.771%
Slippage from QFEX: live order book, 7 min ago; Phemex: live order book, 2 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0044%
- Per $10,000 a day
- −$1.31
- 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, 7 min ago | 1.40 bp | 6.4 bp −$6 | 7.2 bp −$72 | 11.3 bp −$1,127 | doesn't fit |
| Sell Phemex live order book, 2 min ago | 0.90 bp | 34.3 bp −$34 | doesn't fit | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.KuCoin498.76cheapestPolymarket Perps498.97+0.042%tradeXYZ498.99+0.046%Coinbase International499.03+0.054%Gate499.07+0.062%Hotstuff499.09+0.066%Ondo Perps499.16+0.080%Nado499.18+0.084%Aster499.18+0.085%Lighter RH499.20+0.088%Variational Omni499.24+0.096%Deribit499.24+0.096%edgeX499.24+0.097%HTX499.26+0.100%SoDEX499.28+0.104%Bitget499.33+0.114%ApeX Omni499.33+0.114%Binance499.35+0.118%Bybit499.36+0.120%Vest499.36+0.120%Paradex499.36+0.120%Extended499.38+0.124%Orderly499.38+0.124%Arcus499.39+0.126%Aevo499.41+0.130%
KuCoin
Polymarket Perps
tradeXYZ
Coinbase International
Gate
Hotstuff
Ondo Perps
Nado
Aster
Lighter RH
Variational Omni
Deribit
HTX
SoDEX
Bitget
ApeX Omni
Binance
Bybit
Vest
Paradex
Extended
Orderly
Arcus
AevoQFEX499.43+0.134%
Lighter499.46+0.140%
LighterPhemex499.47+0.142%
Phoenix499.49+0.146%OKX499.53+0.154%BloFin499.62+0.172%Injective500.11+0.271%SunX500.32+0.313%
Phoenix
OKX
BloFin
Injective
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| KuCoin MSFTUSDTM | −0.134% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.092% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.088% | +0.0050% | 1h | $21.8M | $8.6M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.080% | −0.0056% | 1h | $678K | $355K | 10x | as long as short |
| Gate MSFT_USDT | −0.072% | 0.0000% | 8h | $3.0M | $1.4M | 100x | as long as short |
| Hotstuff MSFT-PERP | −0.068% | +0.0112% | 1h | $40K | — | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.054% | +0.0050% | 1h | $510K | $451K | 15x | as long as short |
| Nado MSFT-PERP | −0.050% | −0.0023% | 1h | $448K | $24K | 20x | as long as short |
| Aster MSFTUSDT | −0.050% | 0.0000% | 8h | $157K | $80K | 20x | as long as short |
| Lighter RH MSFT | −0.046% | +0.0032% | 1h | $660K | $2.1M | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | −0.039% | 0.0000% | 8h | $1.3M | $717K | — | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.038% | 0.0000% | 1h | $27K | $114K | 10x | as long as short |
| edgeX MSFTUSDC | −0.037% | −0.0722% | 4h | $102K | $244K | 10x | as long as short |
| HTX MSFT-USDT | −0.034% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| SoDEX MSFT-USD | −0.030% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| Bitget MSFTUSDT | −0.020% | +0.0005% | 8h | $3.7M | $1.7M | 100x | as long as short |
| ApeX Omni MSFTUSDT | −0.020% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Binance MSFTUSDT | −0.016% | 0.0000% | 8h | $15.6M | $16.7M | 20x | as long as short |
| Bybit MSFTUSDT | −0.014% | 0.0000% | 8h | $7.3M | $1.5M | 100x | as long as short |
| Vest MSFT-USD-PERP | −0.014% | +0.0046% | 1h | — | — | 25x | as long as short |
| Paradex MSFT-USD-PERP | −0.014% | +0.0050% | 8h | $220 | — | 5x | as long as short |
| Extended MSFT_24_5-USD | −0.011% | 0.0000% | 1h | $372K | $410K | 17x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.010% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Arcus MSFT-USD | −0.008% | +0.0573% | 1h | $111K | $75K | 10x | as long as short |
| Aevo MSFT-PERP | −0.005% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| QFEX MSFT-USDlong | 0.000% | +0.0044% | 1h | $1.2M | $4.6M | 10x | |
| Lighter MSFT | +0.006% | +0.0064% | 1h | $1.1M | $537K | 20x | as long as short |
| Phemex MSFTUSDTshort | +0.008% | 0.0000% | 8h | $2.1M | $644K | 10x | |
| Phoenix MSFT | +0.012% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | +0.020% | 0.0000% | 8h | $3.1M | $2.1M | 20x | as long as short |
| BloFin MSFT-USDT | +0.038% | +0.0020% | 8h | $193K | $186K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.136% | +0.0220% | 1h | $115K | $88K | 30x | as long as short |
| SunX MSFT-USDT | +0.178% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |