MSFT

Alert

Funding spread now, next payment 19:00 UTC+0.0008%/8h

next payment, per $10,000+$0.01paid, last 24h+0.087%paid, last 3 days+0.166%to open and closeno order book

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff MSFT-PERP	498.44	0.0064	pay 0.0008% / 1h	1m 21s	$40K	—	20x
Short	Lighter MSFT	498.66	0.0072	get 0.0009% / 1h	1m 21s	$1.1M	$548K	20x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HotstuffbpFee LighterbpOrdersRate

Funding earned: $1.68
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$3.32
Break-even: 20.8 days

Slippage unknown: Hotstuff: no order-book sample; Lighter: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.044%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Lighter live order book, 1 min ago	0.90 bp	1.9 bp −$2	7.0 bp −$70	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 33 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
edgeX MSFTUSDC	−0.0563%	4h	$101K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	$685K	$364K	10x	as long as short
BloFin MSFT-USDT	−0.0026%	8h	$192K	$196K	20x	as long as short
Nado MSFT-PERP	−0.0004%	1h	$446K	$25K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	$156K	$86K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	$372K	$410K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	$15.6M	$17.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	$7.3M	$1.5M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	$3.0M	$2.1M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	$3.0M	$1.4M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	$1.3M	$704K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	$27K	$114K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	$58K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	$2.1M	$683K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	$663K	$2.1M	20x	as long as short
Bitget MSFTUSDT	+0.0033%	8h	$3.7M	$1.8M	100x	as long as short
QFEX MSFT-USD	+0.0044%	1h	$1.2M	$5.0M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	—	—	25x	as long as short
Phoenix MSFT	+0.0048%	1h	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	$22.1M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	$301K	$444K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	$219	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	$509K	$453K	15x	as long as short
Hotstuff MSFT-PERPlong	+0.0064%	1h	$40K	—	20x
Lighter MSFTshort	+0.0072%	1h	$1.1M	$548K	20x
KuCoin MSFTUSDTM	+0.0100%	8h	$1.5M	$11K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	$114K	$88K	30x	as long as short
Arcus MSFT-USD	+0.0573%	1h	$112K	$75K	10x	as long as short