Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0007%/8h= −0.8% APRpaid last 24h +0.094%

Price spread now: BloFin against Hotstuff+0.241%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 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: BloFin is 0.241% dearer against Hotstuff than usual: you sell high and buy low, +$24 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	Hotstuff MSFT-PERP	503.09	0.0024	pay 0.0003% / 1h	54m 53s	$32K	$8K	20x
Short	BloFin MSFT-USDT	504.30	0.0017	get 0.0017% / 8h	7h 54m	$192K	$205K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hotstuff. 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 HotstuffbpFee BloFinbpOrdersPrice spread, now +0.241%Rate

Funding earned: −$1.46
Price spread: +0.241% → 0.000%: $24.05
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: $5.6
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; BloFin: live order book, 11 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 Hotstuff no order-book sample	—	—	—	—	—
Sell BloFin live order book, 11 min ago	0.89 bp	7.9 bp −$8	10.4 bp −$104	25.0 bp −$2,498	doesn't fit

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
Nado MSFT-PERP	−0.0060%	1h	503.78	+0.138%	$415K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.71	+0.123%	$689K	$477K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.16	+0.213%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.36	+0.252%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.54	+0.288%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.19	+0.219%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.53	+0.286%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.27	+0.235%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.46	+0.272%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.97	+0.175%	$1.3M	$392K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.46	+0.073%	$19K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.37	+0.453%	$6K	$3.7M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.34	+0.248%	$59K	$224K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.76	+0.332%	$2.2M	$823K	10x	as long as short
BloFin MSFT-USDTshort	+0.0017%	8h	504.30	+0.241%	$192K	$205K	20x
QFEX MSFT-USD	+0.0023%	1h	504.00	+0.181%	$1.2M	$4.6M	10x	as long as short
Hotstuff MSFT-PERPlong	+0.0024%	1h	503.09	long leg	$32K	$8K	20x
Lighter MSFT	+0.0032%	1h	504.32	+0.244%	$1.2M	$509K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.26	+0.233%	$706K	$1.8M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.79	+0.139%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.16	+0.213%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.88	+0.157%	$22.5M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.80	+0.141%	$303K	$704K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.15	+0.211%	$61K	$3K	10x	as long as short
edgeX MSFTUSDC	+0.0050%	4h	503.74	+0.129%	$102K	$242K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.58	+0.097%	$513K	$430K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.78	+0.137%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.05	−0.008%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.82	+0.145%	$1.6M	$88K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.95	−0.028%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.09	+0.199%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.15	+0.212%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0127%	1h	504.34	+0.248%	$27K	$44K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	+0.155%	$115K	$45K	30x	as long as short