Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h −0.071%
Price spread now: Hotstuff against Coinbase International−0.008%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International MSFT-PERP-INTX | 503.66 | −0.0048 | get 0.0006% / 1h | 47m 13s | $682K | $500K | 10x |
| Short | Hotstuff MSFT-PERP | 503.62 | 0.0048 | get 0.0006% / 1h | 47m 13s | $32K | $8K | 20x |
Coinbase International MSFT-PERP-INTX
Hotstuff MSFT-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.16
- Price spread: −0.008% → 0.000%
- −$0.79
- Slippage, 4 orders
- no order book: not counted
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- $4.37
- Costs to cover
- 0.150%
- Break-even
- 5.5 days
Slippage unknown: Coinbase International: live order book, 61 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 Coinbase International live order book, 61 min ago | 2.89 bp | 8.2 bp −$8 | 10.8 bp −$108 | 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 | −0.0462% | 4h | 503.96 | +0.059% | $103K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTXlong | −0.0048% | 1h | 503.66 | long leg | $682K | $500K | 10x | |
| Aster MSFTUSDT | 0.0000% | 8h | 503.76 | +0.019% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.02 | +0.072% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.10 | +0.088% | $15.8M | $19.6M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.80 | +0.028% | $7.3M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.31 | +0.129% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.91 | +0.050% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.08 | +0.083% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.13 | +0.094% | $1.3M | $499K | — | as long as short |
edgeX MSFTUSDC
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.20 | +0.108% | $19K | $327K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.84 | +0.234% | $6K | $3.9M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.98 | +0.064% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.10 | +0.087% | $2.2M | $820K | 10x | as long as short |
| Nado MSFT-PERP | +0.0004% | 1h | 503.70 | +0.009% | $415K | $67K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0008% | 1h | 503.87 | +0.042% | $27K | $43K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0014% | 8h | 504.01 | +0.069% | $190K | $207K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.90 | +0.048% | $689K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0039% | 1h | 503.96 | +0.060% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.80 | +0.028% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.97 | +0.062% | — | $1K | 25x | as long as short |
| Hotstuff MSFT-PERPshort | +0.0048% | 1h | 503.62 | −0.008% | $32K | $8K | 20x | |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.68 | +0.004% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.73 | +0.014% | $303K | $718K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.95 | +0.058% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.67 | +0.002% | $522K | $476K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0059% | 8h | 503.91 | +0.049% | $222 | — | 5x | as long as short |
| Phoenix MSFT | +0.0064% | 1h | 503.77 | +0.022% | $11K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.47 | −0.038% | $1.6M | $58K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.66 | 0.000% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.95 | +0.058% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.04 | +0.075% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0120% | 1h | 504.12 | +0.091% | $1.2M | $514K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.13 | +0.093% | $115K | $45K | 30x | as long as short |
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Nado MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
BloFin MSFT-USDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP