MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0026%/8h= +2.9% APRnext payment +$0.03 per $10,000 · paid last 24h +0.003%

Price spread now: Phoenix against QFEX−0.024%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.024% cheaper against QFEX than usual: you would sell low and buy high (spread −0.024% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 3.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX MSFT-USD	503.59	0.0037	pay 0.0005% / 1h	35m 18s	$1.2M	$4.6M	10x
Short	Phoenix MSFT	503.47	0.0064	get 0.0008% / 1h	35m 18s	$11K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.024%Rate

Funding earned: $5.52
Price spread: −0.024% → 0.000%: −$2.38
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$13.86
Costs to cover: 0.170%
Break-even: 24.6 days

Slippage unknown: QFEX: live order book, 3 min ago; Phoenix: no order-book sample. Net counts fees only.

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	1.59 bp	6.6 bp −$7	9.1 bp −$91	16.1 bp −$1,606	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Nado MSFT-PERP	−0.0018%	1h	503.42	−0.034%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.71	+0.023%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.58	−0.003%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.71	+0.023%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.44	−0.030%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.89	+0.060%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.47	−0.024%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.65	+0.012%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.65	+0.011%	$1.3M	$407K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.78	+0.037%	$19K	$324K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	504.50	+0.181%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.97	−0.123%	$682K	$448K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.63	+0.008%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.93	+0.068%	$2.2M	$819K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	503.75	+0.032%	$190K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.63	+0.008%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.54	−0.010%	$707K	$1.9M	20x	as long as short
QFEX MSFT-USDlong	+0.0037%	1h	503.59	long leg	$1.2M	$4.6M	10x
Arcus MSFT-USD	+0.0040%	1h	503.47	−0.024%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.75	+0.032%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.24	−0.070%	$22.4M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.44	−0.030%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.51	−0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.32	−0.054%	$513K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.62	+0.005%	$222	—	5x	as long as short
Phoenix MSFTshort	+0.0064%	1h	503.47	−0.024%	$11K	$15K	20x
Hotstuff MSFT-PERP	+0.0064%	1h	503.25	−0.068%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.13	−0.091%	$1.6M	$63K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.22	−0.073%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.65	+0.012%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.64	+0.009%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.90	+0.062%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0286%	1h	503.60	+0.002%	$27K	$44K	10x	as long as short
edgeX MSFTUSDC	+0.0983%	4h	503.71	+0.024%	$102K	$243K	10x	as long as short