Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h −0.078%

Price spread now: Hotstuff against Variational Omni−0.053%7-day average — · you buy dearer than you sell

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

Long on Variational Omni 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 airdropVariational Omni: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.053% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 41 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni MSFT	501.32	0	get 0.0000% / 8h	5h 15m	$1.3M	$650K	—
Short	Hotstuff MSFT-PERP	501.05	0.0104	get 0.0013% / 1h	15m 32s	$32K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Variational Omni. 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 Variational OmnibpFee HotstuffbpOrdersPrice spread, now −0.053%Rate

Funding earned: $21.84
Price spread: −0.053% → 0.000%: −$5.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $11.51
Costs to cover: 0.050%
Break-even: 3.3 days

Slippage unknown: Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago	3.16 bp	doesn't fit	17.8 bp −$178	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.91	−0.081%	$678K	$457K	10x	as long as short
Nado MSFT-PERP	−0.0033%	1h	501.13	−0.037%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0024%	8h	501.46	+0.028%	$190K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.42	+0.020%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.26	−0.011%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.39	+0.015%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.18	−0.027%	$7.2M	$1.9M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.54	+0.044%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.27	−0.009%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.45	+0.026%	$4.5M	$2.5M	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 MSFTlong	0.0000%	8h	501.32	long leg	$1.3M	$650K	—
GRVT MSFT_USDT_Perp	0.0000%	8h	501.34	+0.005%	$18K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.17	+0.170%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.99	−0.065%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.21	−0.021%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.81	+0.098%	$2.2M	$771K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.24	−0.015%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.20	−0.023%	$684K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.14	−0.035%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.37	+0.011%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.04	−0.055%	$22.1M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.04	−0.055%	$301K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.25	−0.013%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.91	−0.081%	$516K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.27	−0.009%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.11	−0.041%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.22	−0.019%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.11	−0.041%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.29	−0.005%	$8K	—	10x	as long as short
Hotstuff MSFT-PERPshort	+0.0104%	1h	501.05	−0.053%	$32K	$8K	20x
Aevo MSFT-PERP	+0.0104%	1h	501.29	−0.005%	$55	—	10x	as long as short
Lighter MSFT	+0.0184%	1h	501.55	+0.046%	$1.1M	$459K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.86	+0.108%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0872%	4h	501.31	−0.002%	$102K	$244K	10x	as long as short