Spread before costs (cost unknown: a leg has no order-book sample)+0.006%
7d average—if it closes, per $10,000$1funding while held, a day+$6.60
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff MSFT-PERP | 494.39 | 0 | get 0.0000% / 1h | 56m 16s | $40K | — | 20x |
| Short | Injective MSFT/USDC PERP | 494.42 | 0.0220 | get 0.0028% / 1h | 56m 16s | $113K | $154K | 30x |
Hotstuff MSFT-PERP
Injective MSFT/USDC PERPPrice 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
- $0.61
- Funding while held
- $6.6
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $2.19
- Spread needed to break even
- 0.050%
Slippage unknown: Hotstuff: no order-book sample; Injective: live order book, 54 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0220%
- Per $10,000 a day
- +$6.60
- 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 Injective live order book, 54 min ago | 9.94 bp | 9.9 bp −$10 | 9.9 bp −$99 | 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 price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International493.02cheapestApeX Omni493.74+0.146%Variational Omni493.93+0.185%edgeX493.95+0.190%Ondo Perps494.01+0.201%KuCoin494.07+0.213%Aster494.27+0.254%Polymarket Perps494.29+0.258%Phoenix494.29+0.258%tradeXYZ494.36+0.272%
Coinbase International
ApeX Omni
Variational Omni
Ondo Perps
KuCoin
Aster
Polymarket Perps
Phoenix
tradeXYZHotstuff494.39+0.278%
Vest494.42+0.284%
VestInjective494.42+0.284%
BloFin494.48+0.296%Gate494.50+0.300%Orderly494.50+0.300%Nado494.51+0.301%HTX494.51+0.302%QFEX494.52+0.304%Deribit494.53+0.306%Aevo494.56+0.313%Paradex494.60+0.320%OKX494.60+0.320%Bybit494.62+0.325%Bitget494.62+0.325%SoDEX494.62+0.325%Lighter RH494.64+0.329%Arcus494.65+0.331%Extended494.67+0.334%Binance494.68+0.337%Lighter494.75+0.351%Phemex494.87+0.375%SunX495.44+0.491%
BloFin
Gate
Orderly
Nado
HTX
QFEX
Deribit
Aevo
Paradex
OKX
Bybit
Bitget
SoDEX
Lighter RH
Arcus
Extended
Binance
Lighter
Phemex
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.277% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| ApeX Omni MSFTUSDT | −0.131% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Variational Omni MSFT | −0.093% | 0.0000% | 8h | $1.2M | $705K | — | as long as short |
| edgeX MSFTUSDC | −0.088% | −0.0742% | 4h | $100K | $245K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.077% | +0.0050% | 1h | $534K | $383K | 15x | as long as short |
| KuCoin MSFTUSDTM | −0.065% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Aster MSFTUSDT | −0.024% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.020% | +0.0050% | 1h | $288K | $478K | 10x | as long as short |
| Phoenix MSFT | −0.020% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.006% | +0.0050% | 1h | $22.0M | $7.4M | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Hotstuff MSFT-PERPlong | 0.000% | 0.0000% | 1h | $40K | — | 20x | |
| Vest MSFT-USD-PERP | +0.006% | +0.0046% | 1h | — | — | 25x | as long as short |
| Injective MSFT/USDC PERPshort | +0.006% | +0.0220% | 1h | $113K | $154K | 30x | |
| BloFin MSFT-USDT | +0.018% | +0.0012% | 8h | $194K | $157K | 20x | as long as short |
| Gate MSFT_USDT | +0.022% | 0.0000% | 8h | $3.1M | $1.2M | 100x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.022% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Nado MSFT-PERP | +0.023% | −0.0029% | 1h | $459K | $4K | 20x | as long as short |
| HTX MSFT-USDT | +0.024% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| QFEX MSFT-USD | +0.026% | +0.0042% | 1h | $1.2M | $3.7M | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.028% | 0.0000% | 1h | $27K | $108K | 10x | as long as short |
| Aevo MSFT-PERP | +0.035% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.042% | +0.0051% | 8h | $218 | — | 5x | as long as short |
| OKX MSFT-USDT-SWAP | +0.042% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| Bybit MSFTUSDT | +0.047% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| Bitget MSFTUSDT | +0.047% | +0.0002% | 8h | $3.8M | $1.6M | 100x | as long as short |
| SoDEX MSFT-USD | +0.047% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Lighter RH MSFT | +0.051% | +0.0032% | 1h | $677K | $2.0M | 20x | as long as short |
| Arcus MSFT-USD | +0.053% | +0.0442% | 1h | $112K | $48K | 10x | as long as short |
| Extended MSFT_24_5-USD | +0.056% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| Binance MSFTUSDT | +0.059% | +0.0017% | 8h | $15.7M | $14.4M | 20x | as long as short |
| Lighter MSFT | +0.073% | +0.0032% | 1h | $1.1M | $535K | 20x | as long as short |
| Phemex MSFTUSDT | +0.097% | 0.0000% | 8h | $2.1M | $527K | 10x | as long as short |
| SunX MSFT-USDT | +0.212% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |