Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h −0.067%

Price spread now: Hotstuff against Gate+0.016%7-day average — · you sell dearer than you buy

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

Long on Gate 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.33	0	get 0.0000% / 8h	2h 50m	$3.1M	$1.5M	100x
Short	Hotstuff MSFT-PERP	501.41	0.0176	get 0.0022% / 1h	50m 58s	$32K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Gate. 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 GatebpFee HotstuffbpOrdersPrice spread, now +0.016%Rate

Funding earned: $36.96
Price spread: +0.016% → 0.000%: $1.6
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $18.56
Costs to cover: 0.200%
Break-even: 3.5 days

Slippage unknown: Gate: live order book, 2 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 Gate live order book, 2 min ago	4.19 bp	14.6 bp −$15	31.6 bp −$316	doesn't fit	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	−0.0151%	4h	501.61	+0.056%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.71	+0.076%	$689K	$431K	10x	as long as short
Nado MSFT-PERP	−0.0026%	1h	501.45	+0.024%	$415K	$62K	20x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	501.71	+0.076%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.01	+0.135%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.60	+0.055%	$371K	$369K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.65	+0.063%	$15.7M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.75	+0.084%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.70	+0.074%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.33	long leg	$3.1M	$1.5M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.63	+0.060%	$1.3M	$709K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.63	+0.061%	$18K	$333K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.39	+0.211%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.54	+0.042%	$27K	$108K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.51	+0.036%	$59K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.79	+0.092%	$2.2M	$756K	10x	as long as short
Bitget MSFTUSDT	+0.0011%	8h	501.63	+0.060%	$3.8M	$2.2M	100x	as long as short
Lighter MSFT	+0.0032%	1h	501.65	+0.064%	$1.1M	$653K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.56	+0.046%	$658K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.64	+0.062%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.29	−0.008%	$22.2M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.29	−0.008%	$304K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.59	+0.052%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.63	+0.061%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.20	−0.026%	$515K	$479K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.68	+0.070%	$1.2M	$5.7M	10x	as long as short
Phoenix MSFT	+0.0096%	1h	501.51	+0.036%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.52	+0.038%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.48	+0.030%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.55	+0.044%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.61	+0.055%	$55	—	10x	as long as short
Hotstuff MSFT-PERPshort	+0.0176%	1h	501.41	+0.016%	$32K	$8K	20x
Injective MSFT/USDC PERP	+0.0220%	1h	501.80	+0.094%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.59	+0.052%	$109K	$78K	10x	as long as short