Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h −0.075%

Price spread now: Hotstuff against Bitget−0.054%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 pays, the price is against you. Hotstuff is 0.054% cheaper against Bitget than usual: you would sell low and buy high (spread −0.054% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 24 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	501.75	0	get 0.0000% / 8h	6h 07m	$4.5M	$2.5M	100x
Short	Hotstuff MSFT-PERP	501.48	0.0176	get 0.0022% / 1h	7m 34s	$32K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bitget. 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 BitgetbpFee HotstuffbpOrdersPrice spread, now −0.054%Rate

Funding earned: $36.96
Price spread: −0.054% → 0.000%: −$5.38
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $14.58
Costs to cover: 0.170%
Break-even: 4.2 days

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	1.30 bp	9.1 bp −$9	12.8 bp −$128	38.3 bp −$3,828	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 33 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	−0.0465%	4h	501.59	−0.033%	$102K	$242K	10x	as long as short
Nado MSFT-PERP	−0.0022%	1h	501.64	−0.023%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.24	−0.102%	$679K	$457K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0009%	1h	501.47	−0.056%	$27K	$41K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.88	+0.027%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.66	−0.017%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.76	+0.003%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.82	+0.014%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.90	+0.030%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.59	−0.032%	$3.1M	$1.7M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDTlong	0.0000%	8h	501.75	long leg	$4.5M	$2.5M	100x
Variational Omni MSFT	0.0000%	8h	501.59	−0.032%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.75	0.000%	$18K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.50	+0.149%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.53	−0.044%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.87	+0.024%	$2.2M	$767K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.60	−0.030%	$637K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.63	−0.024%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.52	−0.046%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.84	+0.018%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.44	−0.062%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.34	−0.082%	$303K	$671K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.64	−0.022%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.26	−0.098%	$522K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	501.72	−0.005%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.52	−0.046%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.47	−0.056%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.34	−0.082%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.67	−0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.64	−0.023%	$55	—	10x	as long as short
Lighter MSFT	+0.0144%	1h	501.88	+0.026%	$1.1M	$489K	20x	as long as short
Hotstuff MSFT-PERPshort	+0.0176%	1h	501.48	−0.054%	$32K	$8K	20x
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.006%	$115K	$45K	30x	as long as short