Funding you earn now, next payment 06:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h +0.066%
Price spread now: Arcus against SoDEX−0.038%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 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
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Arcus is 0.038% cheaper against SoDEX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SoDEX MSFT-USD | 503.91 | 0.0050 | pay 0.0006% / 1h | 26m 08s | $61K | $3K | 10x |
| Short | Arcus MSFT-USD | 503.72 | 0.0040 | get 0.0005% / 1h | 26m 08s | $97K | $110K | 10x |
SoDEX MSFT-USD
Arcus MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against SoDEX. 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
- −$2.04
- Price spread: −0.038% → 0.000%
- −$3.77
- Slippage, 4 orders
- no order book: not counted
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$18.31
- Costs to cover
- 0.125%
- Break-even
- never at this rate
Slippage unknown: SoDEX: no order-book sample; Arcus: live order book, 22 min ago. 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 SoDEX no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 22 min ago | 3.68 bp | 9.8 bp −$10 | 12.0 bp −$120 | doesn't fit | doesn't fit |
SoDEX: 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0595% | 4h | 504.01 | +0.020% | $103K | $242K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.76 | −0.030% | $687K | $483K | 10x | as long as short |
| Nado MSFT-PERP | −0.0033% | 1h | 503.96 | +0.010% | $415K | $68K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0017% | 8h | 504.20 | +0.058% | $189K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.94 | +0.007% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.93 | +0.004% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.09 | +0.036% | $15.8M | $19.4M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.78 | −0.026% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.23 | +0.064% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.81 | −0.020% | $3.1M | $1.8M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 504.02 | +0.022% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.15 | +0.047% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.79 | −0.024% | $19K | $317K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.94 | +0.204% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.81 | −0.020% | $27K | $43K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.04 | +0.026% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.35 | +0.087% | $2.2M | $800K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.67 | −0.048% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.89 | −0.004% | $688K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 503.91 | 0.000% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USDshort | +0.0040% | 1h | 503.72 | −0.038% | $97K | $110K | 10x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.22 | +0.062% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.72 | −0.038% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.74 | −0.034% | $303K | $720K | 10x | as long as short |
| SoDEX MSFT-USDlong | +0.0050% | 1h | 503.91 | long leg | $61K | $3K | 10x | |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.80 | −0.022% | $518K | $471K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.96 | +0.011% | $222 | — | 5x | as long as short |
| Lighter MSFT | +0.0088% | 1h | 504.16 | +0.050% | $1.2M | $516K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.36 | −0.109% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.37 | −0.107% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.96 | +0.010% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.99 | +0.015% | $55 | — | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0192% | 1h | 503.67 | −0.048% | $32K | $8K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.04 | +0.026% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
Lighter RH MSFT
QFEX MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Hotstuff MSFT-PERP
Injective MSFT/USDC PERP