Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1600%/8h= −175.2% APRpaid last 24h −0.100%

Price spread now: Hotstuff against SunX−0.253%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Hotstuff

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 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and Hotstuff is 0.253% cheaper against SunX than usual: you would sell low and buy high (−$25 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	505.69	0	get 0.0000% / 8h	5h 07m	$6K	$3.5M	20x
Short	Hotstuff MSFT-PERP	504.41	−0.1600	pay 0.0200% / 1h	7m 58s	$33K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against SunX. 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 SunXbpFee HotstuffbpOrdersPrice spread, now −0.253%Rate

Funding earned: −$336
Price spread: −0.253% → 0.000%: −$25.31
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$374.31
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 3 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 SunX live order book, 3 min ago	29.38 bp	110.5 bp −$111	doesn't fit	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 exchanges

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
Hotstuff MSFT-PERPshort	−0.1600%	1h	504.41	−0.253%	$33K	$8K	20x
edgeX MSFTUSDC	−0.0078%	4h	504.64	−0.208%	$103K	$242K	10x	as long as short
Nado MSFT-PERP	−0.0036%	1h	504.64	−0.207%	$412K	$72K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	505.13	−0.111%	$166K	$118K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.84	−0.168%	$328K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.99	−0.138%	$16.3M	$21.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.73	−0.190%	$7.3M	$2.4M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.60	−0.216%	$3.1M	$2.0M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.67	−0.202%	$4.0M	$3.1M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.57	−0.221%	$1.3M	$408K	—	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	504.62	−0.212%	$19K	$326K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	505.69	long leg	$6K	$3.5M	20x
Coinbase International MSFT-PERP-INTX	0.0000%	1h	504.00	−0.334%	$712K	$662K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.76	−0.184%	$49K	$247K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	505.10	−0.117%	$2.3M	$943K	10x	as long as short
BloFin MSFT-USDT	+0.0014%	8h	504.84	−0.168%	$202K	$222K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0027%	1h	504.67	−0.202%	$30K	$47K	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.70	−0.196%	$1.2M	$526K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.76	−0.184%	$729K	$1.9M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.88	−0.160%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.48	−0.239%	$22.4M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.58	−0.220%	$319K	$675K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.65	−0.206%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.35	−0.265%	$530K	$408K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	504.72	−0.192%	$222	—	5x	as long as short
OKX MSFT-USDT-SWAP	+0.0056%	8h	505.08	−0.121%	$3.2M	$2.8M	20x	as long as short
QFEX MSFT-USD	+0.0058%	1h	504.74	−0.188%	$1.2M	$4.7M	10x	as long as short
Phoenix MSFT	+0.0079%	1h	504.29	−0.277%	$11K	$5K	20x	as long as short
KuCoin MSFTUSDTM	+0.0089%	8h	504.27	−0.281%	$1.6M	$269K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.09	−0.316%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.70	−0.196%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.65	−0.206%	$56	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	504.62	−0.212%	$93K	$83K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.69	−0.198%	$116K	$45K	30x	as long as short