Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h −0.069%

Price spread now: Hotstuff against Gate−0.022%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hotstuff is 0.022% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	501.88	0	get 0.0000% / 8h	1h 19m	$3.1M	$1.6M	100x
Short	Hotstuff MSFT-PERP	501.77	0.0008	get 0.0001% / 1h	19m 57s	$32K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Gate. 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 GatebpFee HotstuffbpOrdersPrice spread, now −0.022%Rate

Funding earned: $1.68
Price spread: −0.022% → 0.000%: −$2.19
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$20.51
Costs to cover: 0.200%
Break-even: 92.5 days

Slippage unknown: Gate: 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 Gate live order book, 3 min ago	3.49 bp	14.4 bp −$14	31.6 bp −$316	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
Aster MSFTUSDT	0.0000%	8h	502.16	+0.055%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.06	+0.036%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.16	+0.056%	$15.7M	$19.2M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.066%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	501.88	long leg	$3.1M	$1.6M	100x
Bitget MSFTUSDT	0.0000%	8h	502.20	+0.064%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.09	+0.041%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.12	+0.048%	$19K	$312K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.95	+0.213%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.75	−0.026%	$27K	$100K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.060%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.03	+0.030%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.35	+0.094%	$2.2M	$757K	10x	as long as short
BloFin MSFT-USDT	+0.0006%	8h	502.13	+0.050%	$188K	$210K	20x	as long as short
Hotstuff MSFT-PERPshort	+0.0008%	1h	501.77	−0.022%	$32K	$8K	20x
Nado MSFT-PERP	+0.0014%	1h	501.92	+0.007%	$414K	$64K	20x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.17	+0.058%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.04	+0.032%	$652K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.03	+0.030%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.99	+0.022%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.75	−0.026%	$22.3M	$9.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.64	−0.048%	$305K	$675K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.09	+0.042%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.79	−0.018%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0060%	8h	502.04	+0.032%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.89	+0.002%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.48	−0.080%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.77	−0.022%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.04	+0.032%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.11	+0.045%	$55	—	10x	as long as short
Lighter MSFT	+0.0136%	1h	502.21	+0.066%	$1.1M	$590K	20x	as long as short
edgeX MSFTUSDC	+0.0158%	4h	502.09	+0.041%	$102K	$242K	10x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.04	+0.032%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.17	+0.058%	$115K	$45K	30x	as long as short