Funding you earn now, next payment 08:00 UTC−0.0072%/8h= −7.9% APRnext payment −$0.09 per $10,000 · paid last 24h +0.071%
Price spread now: Coinbase International against Hotstuff−0.002%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff MSFT-PERP | 503.84 | 0.0016 | pay 0.0002% / 1h | 27m 51s | $33K | $8K | 20x |
| Short | Coinbase International MSFT-PERP-INTX | 503.83 | −0.0056 | pay 0.0007% / 1h | 27m 51s | $682K | $478K | 10x |
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Hotstuff. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$15.12
- Price spread: −0.002% → 0.000%
- −$0.2
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$30.32
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Hotstuff: no order-book sample; Coinbase International: live order book, 5 min ago. 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 Coinbase International live order book, 5 min ago | 1.59 bp | 7.4 bp −$7 | 10.0 bp −$100 | 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 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 | −0.0313% | 4h | 504.33 | +0.098% | $103K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTXshort | −0.0056% | 1h | 503.83 | −0.002% | $682K | $478K | 10x | |
| Nado MSFT-PERP | −0.0031% | 1h | 503.96 | +0.023% | $415K | $67K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.39 | +0.109% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.12 | +0.055% | $335K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.26 | +0.083% | $16.0M | $18.9M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.06 | +0.044% | $7.2M | $2.3M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.30 | +0.091% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.03 | +0.038% | $3.1M | $1.9M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.24 | +0.079% | $3.9M | $2.9M | 100x | as long as short |
edgeX MSFTUSDC
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 504.34 | +0.100% | $1.3M | $387K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.31 | +0.094% | $19K | $316K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.17 | +0.264% | $6K | $3.5M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.56 | +0.143% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.53 | +0.137% | $2.2M | $837K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0008% | 8h | 504.36 | +0.103% | $192K | $204K | 20x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 504.07 | +0.046% | $11K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERPlong | +0.0016% | 1h | 503.84 | long leg | $33K | $8K | 20x | |
| QFEX MSFT-USD | +0.0023% | 1h | 504.24 | +0.079% | $1.1M | $4.6M | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 504.00 | +0.032% | $1.2M | $513K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 504.00 | +0.032% | $699K | $1.9M | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 504.08 | +0.048% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.30 | +0.091% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.77 | −0.014% | $22.4M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.60 | −0.048% | $303K | $650K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.09 | +0.050% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.99 | +0.030% | $514K | $395K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 504.13 | +0.058% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.84 | 0.000% | $1.6M | $114K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.83 | −0.002% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.21 | +0.073% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.22 | +0.076% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0167% | 1h | 504.11 | +0.054% | $27K | $45K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 505.84 | +0.397% | $116K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Phoenix MSFT
QFEX MSFT-USD
Lighter MSFT
Lighter RH MSFT
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Deribit MSFT_USDC-PERPETUAL
Injective MSFT/USDC PERP