Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h −0.092%

Price spread now: Hotstuff against BloFin−0.048%7-day average — · you buy dearer than you sell

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

Long on BloFin 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 0.048% cheaper against BloFin than usual: you would sell low and buy high (spread −0.048% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 42 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	BloFin MSFT-USDT	502.22	−0.0010	get 0.0010% / 8h	7h 49m	$188K	$207K	20x
Short	Hotstuff MSFT-PERP	501.98	0.0080	get 0.0010% / 1h	49m 07s	$32K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against BloFin. 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 BloFinbpFee HotstuffbpOrdersPrice spread, now −0.048%Rate

Funding earned: $18.98
Price spread: −0.048% → 0.000%: −$4.78
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$2.8
Costs to cover: 0.170%
Break-even: 8.0 days

Slippage unknown: BloFin: live order book, 16 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 BloFin live order book, 16 min ago	0.10 bp	8.0 bp −$8	11.0 bp −$110	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
Nado MSFT-PERP	−0.0012%	1h	502.01	−0.041%	$415K	$64K	20x	as long as short
BloFin MSFT-USDTlong	−0.0010%	8h	502.22	long leg	$188K	$207K	20x
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.57	−0.129%	$680K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.14	−0.016%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.14	−0.015%	$337K	$507K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.13	−0.018%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.22	0.000%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.35	+0.026%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.96	−0.052%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.05	−0.034%	$3.8M	$2.2M	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 MSFT	0.0000%	8h	502.14	−0.016%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.04	−0.037%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.01	+0.157%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.97	−0.050%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.09	−0.026%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.47	+0.050%	$2.2M	$753K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.07	−0.030%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	502.12	−0.020%	$1.1M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.11	−0.022%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.89	−0.066%	$22.3M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.88	−0.068%	$303K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.16	−0.012%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.60	−0.123%	$529K	$490K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.18	−0.007%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.96	−0.052%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0080%	1h	502.31	+0.018%	$1.1M	$486K	20x	as long as short
Hotstuff MSFT-PERPshort	+0.0080%	1h	501.98	−0.048%	$32K	$8K	20x
KuCoin MSFTUSDTM	+0.0100%	8h	501.82	−0.080%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.87	−0.070%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.04	−0.036%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.02	−0.039%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.98	−0.048%	$97K	$110K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.20	−0.004%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0477%	4h	501.98	−0.047%	$102K	$243K	10x	as long as short