Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.075%

Price spread now: Phemex against Hotstuff+0.088%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 Phemex

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: Phemex is 0.088% dearer against Hotstuff than usual: you sell high and buy low, +$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	Hotstuff MSFT-PERP	501.83	−0.0008	get 0.0001% / 1h	49m 41s	$32K	$8K	20x
Short	Phemex MSFTUSDT	502.27	0	get 0.0000% / 8h	49m 41s	$2.2M	$754K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice 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 Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$6.55
Costs to cover: 0.170%
Break-even: 34.3 days

Slippage unknown: Hotstuff: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago	0.60 bp	29.2 bp −$29	doesn't fit	doesn't fit	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	−0.0031%	1h	501.94	+0.022%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.014%	$687K	$450K	10x	as long as short
Hotstuff MSFT-PERPlong	−0.0008%	1h	501.83	long leg	$32K	$8K	20x
Aster MSFTUSDT	0.0000%	8h	502.14	+0.062%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.17	+0.068%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.27	+0.088%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.31	+0.096%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.99	+0.032%	$3.2M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.30	+0.094%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.26	+0.085%	$1.3M	$702K	—	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	502.15	+0.064%	$18K	$308K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.08	+0.249%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.99	+0.032%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.13	+0.060%	$59K	$227K	20x	as long as short
Phemex MSFTUSDTshort	0.0000%	8h	502.27	+0.088%	$2.2M	$754K	10x
BloFin MSFT-USDT	+0.0007%	8h	502.23	+0.080%	$188K	$210K	20x	as long as short
Bybit MSFTUSDT	+0.0025%	8h	502.33	+0.100%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.09	+0.052%	$642K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.12	+0.058%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.15	+0.064%	$1.1M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.83	0.000%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.78	−0.010%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.17	+0.068%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.87	+0.008%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	502.18	+0.069%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.91	+0.016%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.65	−0.036%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.90	+0.014%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.16	+0.066%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.18	+0.070%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.29	+0.092%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.36	+0.106%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.07	+0.048%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0952%	4h	502.25	+0.084%	$102K	$243K	10x	as long as short