Funding you earn now, next payment 05:00 UTC+0.0065%/8h= +7.1% APRnext payment +$0.08 per $10,000 · paid last 24h +0.089%
Price spread now: tradeXYZ against Hotstuff+0.024%7-day average — · you sell dearer than you buy
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
=Together, before fees—+ Points / potential airdropHotstuff: Active · tradeXYZ: Active · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and tradeXYZ is 0.024% dearer against Hotstuff than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hotstuff MSFT-PERP | 503.13 | −0.0048 | get 0.0006% / 1h | 2m 56s | $32K | $8K | 20x |
| Short | tradeXYZ xyz:MSFT | 503.25 | 0.0017 | get 0.0002% / 1h | 2m 56s | $22.3M | $8.8M | 20x |
Hotstuff MSFT-PERP
tradeXYZ xyz:MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- $13.58
- Price spread: +0.024% → 0.000%
- $2.39
- Slippage, 4 orders
- no order book: not counted
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$7.04
- Costs to cover
- 0.230%
- Break-even
- 10.6 days
Slippage unknown: Hotstuff: no order-book sample; tradeXYZ: 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 tradeXYZ live order book, 5 min ago | 0.50 bp | 10.1 bp −$10 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Nado MSFT-PERP | −0.0099% | 1h | 503.36 | +0.046% | $414K | $65K | 20x | as long as short |
| Hotstuff MSFT-PERPlong | −0.0048% | 1h | 503.13 | long leg | $32K | $8K | 20x | |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 503.33 | +0.040% | $685K | $460K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 503.47 | +0.067% | $162K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.68 | +0.110% | $337K | $1.0M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 503.82 | +0.137% | $15.8M | $19.2M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.46 | +0.066% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.68 | +0.109% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.54 | +0.081% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 503.61 | +0.095% | $4.4M | $2.6M | 100x | as long as short |
Nado MSFT-PERP
Coinbase International MSFT-PERP-INTX
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 | 503.40 | +0.053% | $1.3M | $493K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.55 | +0.084% | $18K | $303K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.60 | +0.292% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.94 | +0.161% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.14 | +0.201% | $2.2M | $786K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0013% | 8h | 503.82 | +0.137% | $190K | $205K | 20x | as long as short |
| tradeXYZ xyz:MSFTshort | +0.0017% | 1h | 503.25 | +0.024% | $22.3M | $8.8M | 20x | |
| Lighter MSFT | +0.0032% | 1h | 503.66 | +0.105% | $1.1M | $514K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.41 | +0.056% | $680K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 503.62 | +0.097% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.29 | +0.032% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.60 | +0.093% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 503.27 | +0.028% | $11K | $15K | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.33 | +0.040% | $303K | $713K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.63 | +0.099% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.08 | −0.010% | $512K | $458K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0051% | 8h | 503.56 | +0.086% | $222 | — | 5x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.08 | −0.010% | $1.6M | $56K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.52 | +0.078% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.56 | +0.085% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.57 | +0.086% | $55 | — | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0108% | 1h | 503.51 | +0.076% | $27K | $42K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 503.84 | +0.141% | $115K | $45K | 30x | as long as short |
| edgeX MSFTUSDC | +0.0954% | 4h | 503.42 | +0.058% | $102K | $243K | 10x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter MSFT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix 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
edgeX MSFTUSDC