Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.086%

Price spread now: Hotstuff against Binance−0.088%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Hotstuff

What this pair did over the last

the charts below follow

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hotstuff is 0.088% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance MSFTUSDT	501.71	0	get 0.0000% / 8h	2m 17s	$15.6M	$19.0M	20x
Short	Hotstuff MSFT-PERP	501.27	−0.0008	pay 0.0001% / 1h	2m 17s	$32K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Binance. 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 BinancebpFee HotstuffbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$1.68
Price spread: −0.088% → 0.000%: −$8.77
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$25.45
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 9 min ago; Hotstuff: 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 Binance live order book, 9 min ago	0.30 bp	5.8 bp −$6	10.7 bp −$107	50.0 bp −$5,000	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	−0.0978%	4h	501.69	−0.004%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0019%	1h	501.34	−0.074%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.010%	$687K	$449K	10x	as long as short
Hotstuff MSFT-PERPshort	−0.0008%	1h	501.27	−0.088%	$32K	$8K	20x
Aster MSFTUSDT	0.0000%	8h	501.74	+0.006%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.61	−0.019%	$337K	$387K	17x	as long as short
Binance MSFTUSDTlong	0.0000%	8h	501.71	long leg	$15.6M	$19.0M	20x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.77	+0.012%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.42	−0.058%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.73	+0.004%	$3.8M	$2.3M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.68	−0.007%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.74	+0.006%	$18K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.45	+0.147%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.60	−0.022%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.90	+0.038%	$2.2M	$746K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	501.74	+0.006%	$188K	$209K	20x	as long as short
Bybit MSFTUSDT	+0.0032%	8h	501.81	+0.020%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.57	−0.028%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.48	−0.046%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.65	−0.012%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.31	−0.080%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.30	−0.082%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.63	−0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.23	−0.096%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.54	−0.033%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.51	−0.040%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.13	−0.116%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.33	−0.076%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.64	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.61	−0.019%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.80	+0.018%	$1.1M	$586K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0169%	1h	501.56	−0.030%	$27K	$102K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	+0.120%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.54	−0.034%	$97K	$109K	10x	as long as short