Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.091%

Price spread now: Paradex against Hotstuff+0.078%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 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 · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.078% dearer against Hotstuff than usual: you sell high and buy low (spread +0.078% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff MSFT-PERP	502.74	0.0064	pay 0.0008% / 1h	15m 54s	$32K	$8K	20x
Short	Paradex MSFT-USD-PERP	503.13	0.0050	get 0.0050% / 8h	3h 15m	$221	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$2.9
Price spread: +0.078% → 0.000%: $7.84
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$4.06
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Paradex: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

Hotstuff and Paradex: 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	−0.0148%	4h	503.01	+0.053%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0106%	1h	503.13	+0.078%	$415K	$64K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0088%	1h	502.86	+0.024%	$27K	$42K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	502.66	−0.016%	$680K	$451K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0008%	1h	502.83	+0.018%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.14	+0.080%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.09	+0.069%	$339K	$884K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.23	+0.097%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.00	+0.052%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.30	+0.111%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	503.02	+0.056%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.08	+0.068%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.14	+0.079%	$1.3M	$606K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.14	+0.080%	$19K	$301K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.98	+0.247%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.11	+0.074%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.29	+0.109%	$2.2M	$786K	10x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	503.21	+0.093%	$189K	$205K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.31	+0.113%	$1.1M	$504K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.05	+0.062%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.09	+0.070%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.82	+0.016%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.19	+0.090%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.88	+0.028%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.83	+0.018%	$304K	$705K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.05	+0.062%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERPshort	+0.0050%	8h	503.13	+0.078%	$221	—	5x
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.74	0.000%	$512K	$462K	15x	as long as short
Hotstuff MSFT-PERPlong	+0.0064%	1h	502.74	long leg	$32K	$8K	20x
KuCoin MSFTUSDTM	+0.0100%	8h	502.79	+0.010%	$1.6M	$55K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.91	+0.034%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.12	+0.076%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.15	+0.082%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	+0.068%	$115K	$45K	30x	as long as short