MSFT

Alert

Funding spread now, next payment 14:00 UTC+0.1650%/8h

next payment, per $10,000+$2.06paid, last 24h+0.036%paid, last 3 days+0.061%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.061% in total (about 7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.06 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff MSFT-PERP	493.38	−0.1600	get 0.0200% / 1h	26m 26s	$40K	—	20x
Short	tradeXYZ xyz:MSFT	493.81	0.0050	get 0.0006% / 1h	26m 26s	$23.3M	$5.4M	20x

Funding history

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee HotstuffbpFee tradeXYZbpOrdersRate

Funding earned: $346.5
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $323.5
Break-even: 0.5 days

Slippage unknown: Hotstuff: no order-book sample; tradeXYZ: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.087%
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 tradeXYZ live order book, 3 min ago	0.10 bp	9.1 bp −$9	9.5 bp −$95	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
Hotstuff MSFT-PERPlong	−0.1600%	1h	$40K	—	20x
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	$663K	$323K	10x	as long as short
Nado MSFT-PERP	−0.0007%	1h	$459K	$1K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	$150K	$9K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	$335K	$365K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	$15.7M	$8.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	$7.2M	$781K	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	$2.9M	$423K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	$3.0M	$812K	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	$3.6M	$1.2M	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	$620K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	$6K	$2.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	$27K	$93K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	$57K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	$2.0M	$350K	10x	as long as short
BloFin MSFT-USDT	+0.0003%	8h	$190K	$104K	20x	as long as short
Lighter MSFT	+0.0032%	1h	$1.1M	$483K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	$690K	$2.7M	20x	as long as short
Phoenix MSFT	+0.0032%	1h	$10K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	$1.1M	$2.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	—	—	25x	as long as short
tradeXYZ xyz:MSFTshort	+0.0050%	1h	$23.3M	$5.4M	20x
Polymarket Perps MSFT-USD	+0.0050%	1h	$311K	$253K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	$59K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	$528K	$336K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	$217	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	$1.5M	$6K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	$158K	$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	$54	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	$113K	$173K	30x	as long as short
Arcus MSFT-USD	+0.0298%	1h	$112K	$49K	10x	as long as short
edgeX MSFTUSDC	+0.0886%	4h	$101K	$244K	10x	as long as short