Funding you earn now, next payment 05:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.009%
Price spread now: QFEX against Variational Omni+0.115%47s7-day average −0.041% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.013%+$1 on $10k
+Price spread, last 7 days−0.132%−$13 · spread now +0.115%, 7d avg −0.041%
=Together, before fees−0.119%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.156% dearer against Variational Omni than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.041%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MSFT | 502.37 | 0 | get 0.0000% / 8h | 3h 21m | $1.3M | $607K | — |
| Short | QFEX MSFT-USD | 502.95 | 0.0035 | get 0.0004% / 1h | 21m 45s | $1.1M | $4.9M | 10x |
Variational Omni MSFT
QFEX MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Variational Omni. 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
- $7.31
- Price spread: +0.115% → −0.041%
- $15.55
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- $12.86
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; QFEX: live order book, 7 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 Variational Omni RFQ quote, 2 min ago | 2.53 bp | doesn't fit | 27.5 bp −$275 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 7 min ago | 1.29 bp | 6.7 bp −$7 | 7.7 bp −$77 | 13.8 bp −$1,382 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0103% | 1h | 503.03 | +0.131% | $415K | $64K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 502.46 | +0.018% | $680K | $448K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.0010% | 1h | 502.68 | +0.061% | $22.2M | $8.8M | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 502.94 | +0.112% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 502.94 | +0.113% | $339K | $884K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.08 | +0.141% | $15.8M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 502.90 | +0.105% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.12 | +0.149% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 502.74 | +0.073% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.00 | +0.125% | $4.4M | $2.6M | 100x | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
tradeXYZ xyz:MSFT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFTlong | 0.0000% | 8h | 502.37 | long leg | $1.3M | $607K | — | |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 502.63 | +0.052% | $19K | $299K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 503.91 | +0.306% | $6K | $4.0M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 502.90 | +0.105% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 502.98 | +0.121% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 503.05 | +0.135% | $2.2M | $783K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0020% | 8h | 503.13 | +0.151% | $189K | $204K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 503.07 | +0.139% | $1.1M | $504K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 502.82 | +0.089% | $679K | $2.0M | 20x | as long as short |
| QFEX MSFT-USDshort | +0.0035% | 1h | 502.95 | +0.115% | $1.1M | $4.9M | 10x | |
| Arcus MSFT-USD | +0.0040% | 1h | 502.61 | +0.047% | $96K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.13 | +0.151% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 502.52 | +0.029% | $11K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 502.76 | +0.077% | $304K | $705K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 502.96 | +0.117% | $60K | $3K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.0050% | 8h | 502.98 | +0.121% | $221 | — | 5x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 502.68 | +0.061% | $512K | $462K | 15x | as long as short |
| Hotstuff MSFT-PERP | +0.0080% | 1h | 502.74 | +0.073% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 502.53 | +0.031% | $1.6M | $55K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 502.18 | −0.038% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.12 | +0.149% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.05 | +0.136% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.14 | −0.046% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0614% | 4h | 502.32 | −0.011% | $102K | $242K | 10x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Paradex MSFT-USD-PERP
Ondo Perps MSFT-USD.P
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP
edgeX MSFTUSDC