Spread before costs (cost unknown: a leg has no order-book sample)+0.164%
7d average—if it closes, per $10,000$16funding while held, a day+$48.00
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff MSFT-PERP | 494.86 | −0.1600 | get 0.0200% / 1h | 47m 05s | $40K | — | 20x |
| Short | Binance MSFTUSDT | 495.67 | 0 | get 0.0000% / 8h | 1h 47m | $15.8M | $11.5M | 20x |
Hotstuff MSFT-PERP
Binance MSFTUSDTPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $16.37
- Funding while held
- $48
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $49.37
- Spread needed to break even
- 0.150%
Slippage unknown: Hotstuff: no order-book sample; Binance: live order book, 10 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.1600%
- Per $10,000 a day
- +$48.00
- Average in range /8h
- —
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 Binance live order book, 10 min ago | 0.10 bp | 6.1 bp −$6 | 10.0 bp −$100 | 39.3 bp −$3,934 | 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 price on every exchange
against the cheapest. Click to use as the short leg.Hotstuff494.86cheapest
Ondo Perps494.91+0.010%Polymarket Perps494.92+0.012%Nado495.08+0.044%Vest495.11+0.051%Paradex495.12+0.052%tradeXYZ495.12+0.053%Phoenix495.15+0.059%Arcus495.16+0.061%QFEX495.18+0.065%Orderly495.19+0.067%Coinbase International495.20+0.069%KuCoin495.21+0.071%Lighter RH495.22+0.073%Aevo495.24+0.077%Deribit495.29+0.087%Gate495.30+0.089%Extended495.32+0.094%Lighter495.39+0.107%SoDEX495.41+0.111%HTX495.41+0.111%Bybit495.43+0.115%Bitget495.44+0.117%Aster495.46+0.120%BloFin495.58+0.145%OKX495.65+0.160%
Ondo Perps
Polymarket Perps
Nado
Vest
Paradex
tradeXYZ
Phoenix
Arcus
QFEX
Orderly
Coinbase International
KuCoin
Lighter RH
Aevo
Deribit
Gate
Extended
Lighter
SoDEX
HTX
Bybit
Bitget
Aster
BloFin
OKXBinance495.67+0.164%
Phemex495.96+0.222%ApeX Omni496.12+0.255%Injective496.18+0.267%edgeX496.29+0.289%SunX496.48+0.327%Variational Omni496.72+0.376%
Phemex
ApeX Omni
Injective
SunX
Variational OmniMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERPlong | 0.000% | −0.1600% | 1h | $40K | — | 20x | |
| Ondo Perps MSFT-USD.P | +0.010% | +0.0050% | 1h | $538K | $366K | 15x | as long as short |
| Polymarket Perps MSFT-USD | +0.012% | +0.0050% | 1h | $292K | $401K | 10x | as long as short |
| Nado MSFT-PERP | +0.044% | −0.0049% | 1h | $460K | $3K | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.051% | +0.0046% | 1h | — | — | 25x | as long as short |
| Paradex MSFT-USD-PERP | +0.052% | +0.0051% | 8h | $218 | — | 5x | as long as short |
| tradeXYZ xyz:MSFT | +0.053% | +0.0043% | 1h | $23.3M | $5.7M | 20x | as long as short |
| Phoenix MSFT | +0.059% | +0.0016% | 1h | $10K | $15K | 20x | as long as short |
| Arcus MSFT-USD | +0.061% | +0.0151% | 1h | $112K | $49K | 10x | as long as short |
| QFEX MSFT-USD | +0.065% | +0.0038% | 1h | $1.1M | $3.1M | 10x | as long as short |