Spread before costs (cost unknown: a leg has no order-book sample)+0.049%
7d average—if it closes, per $10,000$5funding while held, a day+$2.46
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff MSFT-PERP | 493.76 | −0.0032 | get 0.0004% / 1h | 40m 43s | $40K | — | 20x |
| Short | SoDEX MSFT-USD | 494.00 | 0.0050 | get 0.0006% / 1h | 40m 43s | $59K | $3K | 10x |
Hotstuff MSFT-PERP
SoDEX MSFT-USDPrice 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
- $4.86
- Funding while held
- $2.46
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee SoDEX: 4 bp × 2 orders
- −$8
- Net
- −$5.68
- Spread needed to break even
- 0.130%
Slippage unknown: Hotstuff: no order-book sample; SoDEX: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0082%
- Per $10,000 a day
- +$2.46
- 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 SoDEX no order-book sample | — | — | — | — | — |
Hotstuff and SoDEX: 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 International493.02cheapestKuCoin493.50+0.097%Polymarket Perps493.64+0.126%Ondo Perps493.71+0.140%
Coinbase International
KuCoin
Polymarket Perps
Ondo PerpsHotstuff493.76+0.150%
Vest493.76+0.150%tradeXYZ493.77+0.152%Gate493.83+0.164%ApeX Omni493.83+0.164%Nado493.83+0.165%Phoenix493.88+0.174%Deribit493.91+0.181%Lighter RH493.92+0.183%Paradex493.99+0.196%Aevo494.00+0.198%
Vest
tradeXYZ
Gate
ApeX Omni
Nado
Phoenix
Deribit
Lighter RH
Paradex
AevoSoDEX494.00+0.199%
Lighter494.01+0.201%HTX494.01+0.201%Orderly494.02+0.203%Bitget494.03+0.205%Extended494.06+0.210%Arcus494.06+0.211%OKX494.07+0.213%QFEX494.07+0.213%edgeX494.08+0.215%Variational Omni494.09+0.217%BloFin494.09+0.217%Binance494.10+0.219%Bybit494.10+0.219%Phemex494.11+0.221%Aster494.36+0.272%Injective494.42+0.284%SunX494.83+0.367%
Lighter
HTX
Orderly
Bitget
Extended
Arcus
OKX
QFEX
Variational Omni
BloFin
Binance
Bybit
Phemex
Aster
Injective
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 | −0.150% | 0.0000% | 1h | $664K | $337K | 10x | as long as short |
| KuCoin MSFTUSDTM | −0.053% | +0.0100% | 8h | $1.5M | $7K | 20x | as long as short |
| Polymarket Perps MSFT-USD | −0.024% | +0.0050% | 1h | $288K | $479K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | −0.010% | +0.0050% | 1h | $533K | $384K | 15x | as long as short |
| Hotstuff MSFT-PERPlong | 0.000% | −0.0032% | 1h | $40K | — | 20x | |
| Vest MSFT-USD-PERP | 0.000% | +0.0046% | 1h | — | — | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.002% | +0.0050% | 1h | $22.1M | $7.7M | 20x | as long as short |
| Gate MSFT_USDT | +0.014% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| ApeX Omni MSFTUSDT | +0.014% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Nado MSFT-PERP | +0.015% | −0.0022% | 1h | $459K | $5K | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Phoenix MSFT | +0.024% | +0.0065% | 1h | $10K | $15K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.030% | 0.0000% | 1h | $27K | $109K | 10x | as long as short |
| Lighter RH MSFT | +0.032% | +0.0032% | 1h | $655K | $2.1M | 20x | as long as short |
| Paradex MSFT-USD-PERP | +0.046% | +0.0051% | 8h | $217 | — | 5x | as long as short |
| Aevo MSFT-PERP | +0.048% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| SoDEX MSFT-USDshort | +0.049% | +0.0050% | 1h | $59K | $3K | 10x | |
| Lighter MSFT | +0.051% | +0.0032% | 1h | $1.1M | $535K | 20x | as long as short |
| HTX MSFT-USDT | +0.051% | 0.0000% | 8h | $58K | $231K | 20x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.053% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Bitget MSFTUSDT | +0.055% | +0.0001% | 8h | $3.7M | $1.6M | 100x | as long as short |
| Extended MSFT_24_5-USD | +0.060% | +0.0016% | 1h | $327K | $380K | 17x | as long as short |
| Arcus MSFT-USD | +0.061% | +0.0442% | 1h | $112K | $50K | 10x | as long as short |
| OKX MSFT-USDT-SWAP | +0.063% | 0.0000% | 8h | $3.1M | $1.5M | 20x | as long as short |
| QFEX MSFT-USD | +0.063% | +0.0042% | 1h | $1.1M | $3.9M | 10x | as long as short |
| edgeX MSFTUSDC | +0.065% | −0.0734% | 4h | $101K | $243K | 10x | as long as short |
| Variational Omni MSFT | +0.066% | 0.0000% | 8h | $1.2M | $705K | — | as long as short |
| BloFin MSFT-USDT | +0.067% | +0.0014% | 8h | $195K | $161K | 20x | as long as short |
| Binance MSFTUSDT | +0.068% | +0.0013% | 8h | $15.6M | $14.6M | 20x | as long as short |
| Bybit MSFTUSDT | +0.069% | 0.0000% | 8h | $7.4M | $1.2M | 100x | as long as short |
| Phemex MSFTUSDT | +0.071% | 0.0000% | 8h | $2.1M | $539K | 10x | as long as short |
| Aster MSFTUSDT | +0.122% | 0.0000% | 8h | $155K | $80K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.134% | +0.0220% | 1h | $113K | $154K | 30x | as long as short |
| SunX MSFT-USDT | +0.217% | 0.0000% | 8h | $6K | $4.3M | 20x | as long as short |