Spread before costs (cost unknown: a leg has no order-book sample)+0.036%
7d average—if it closes, per $10,000$4funding while held, a day−$1.21
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff MSFT-PERP | 498.79 | 0.0016 | pay 0.0002% / 1h | 56m 01s | $40K | — | 20x |
| Short | Nado MSFT-PERP | 498.97 | −0.0024 | pay 0.0003% / 1h | 56m 01s | $447K | $24K | 20x |
Hotstuff MSFT-PERP
Nado MSFT-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
- $3.61
- Funding while held
- −$1.21
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$9.61
- Spread needed to break even
- 0.120%
Slippage unknown: Hotstuff: no order-book sample; Nado: live order book, 43 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0040%
- Per $10,000 a day
- −$1.21
- 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 Nado live order book, 43 min ago | 0.90 bp | 5.9 bp −$6 | 15.6 bp −$156 | 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 International497.09cheapestKuCoin498.58+0.300%ApeX Omni498.62+0.308%Polymarket Perps498.68+0.320%tradeXYZ498.77+0.338%
Coinbase International
KuCoin
ApeX Omni
Polymarket Perps
tradeXYZHotstuff498.79+0.342%
Gate498.85+0.354%Phoenix498.86+0.356%Ondo Perps498.87+0.358%
Gate
Phoenix
Ondo PerpsNado498.97+0.378%
Vest498.98+0.380%Lighter RH498.99+0.382%HTX499.00+0.384%Deribit499.02+0.388%Variational Omni499.06+0.397%Extended499.09+0.402%SoDEX499.11+0.406%Orderly499.13+0.410%Aevo499.14+0.412%Bybit499.14+0.412%Paradex499.14+0.413%QFEX499.15+0.414%Aster499.16+0.416%Arcus499.16+0.416%Bitget499.16+0.416%BloFin499.16+0.416%Binance499.17+0.418%OKX499.20+0.424%Lighter499.22+0.428%edgeX499.25+0.434%Phemex499.46+0.477%SunX500.02+0.589%Injective500.11+0.608%
Vest
Lighter RH
HTX
Deribit
Variational Omni
Extended
SoDEX
Orderly
Aevo
Bybit
Paradex
QFEX
Aster
Arcus
Bitget
BloFin
Binance
OKX
Lighter
Phemex
SunX
InjectiveMSFT 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 | −0.341% | −0.0056% | 1h | $675K | $352K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.042% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| ApeX Omni MSFTUSDT | −0.034% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Polymarket Perps MSFT-USD | −0.022% | +0.0050% | 1h | $302K | $444K | 10x | as long as short |
| tradeXYZ xyz:MSFT | −0.004% | +0.0050% | 1h | $21.8M | $8.6M | 20x | as long as short |
| Hotstuff MSFT-PERPlong | 0.000% | +0.0016% | 1h | $40K | — | 20x | |
| Gate MSFT_USDT | +0.012% | 0.0000% | 8h | $3.1M | $1.4M | 100x | as long as short |
| Phoenix MSFT | +0.014% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| Ondo Perps MSFT-USD.P | +0.016% | +0.0050% | 1h | $510K | $451K | 15x | as long as short |
| Nado MSFT-PERPshort | +0.036% | −0.0024% | 1h | $447K | $24K | 20x |