Spread before costs (cost unknown: a leg has no order-book sample)−0.146%
7d average—if it closes, per $10,000$15funding while held, a day−$46.56
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni MSFT | 494.86 | 0 | get 0.0000% / 8h | 1h 33m | $1.3M | $652K | — |
| Short | Hotstuff MSFT-PERP | 494.14 | −0.1552 | pay 0.0194% / 1h | 33m 39s | $40K | — | 20x |
Variational Omni MSFT
Hotstuff 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
- −$14.63
- Funding while held
- −$46.56
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$66.19
- Spread needed to break even
- 0.050%
Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Hotstuff: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.1552%
- Per $10,000 a day
- −$46.56
- 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 Variational Omni RFQ quote, 2 min ago | 2.54 bp | doesn't fit | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
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.Polymarket Perps493.91cheapestVest494.07+0.032%KuCoin494.10+0.038%
Polymarket Perps
Vest
KuCoinHotstuff494.14+0.047%
Nado494.15+0.049%tradeXYZ494.17+0.053%Ondo Perps494.23+0.065%Deribit494.36+0.091%Orderly494.41+0.101%Arcus494.45+0.109%ApeX Omni494.45+0.109%Lighter RH494.47+0.113%Phoenix494.48+0.115%Paradex494.51+0.121%Gate494.51+0.121%Aevo494.52+0.124%QFEX494.58+0.136%Bybit494.59+0.138%Extended494.60+0.139%SoDEX494.60+0.140%Bitget494.62+0.144%HTX494.64+0.148%Lighter494.70+0.160%OKX494.72+0.164%Aster494.73+0.166%Binance494.74+0.168%edgeX494.75+0.170%BloFin494.78+0.176%
Nado
tradeXYZ
Ondo Perps
Deribit
Orderly
Arcus
ApeX Omni
Lighter RH
Phoenix
Paradex
Gate
Aevo
QFEX
Bybit
Extended
SoDEX
Bitget
HTX
Lighter
OKX
Aster
Binance
BloFinVariational Omni494.86+0.193%
Phemex495.14+0.249%Injective495.17+0.255%Coinbase International495.20+0.261%SunX495.64+0.350%
Phemex
Injective
Coinbase International
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Polymarket Perps MSFT-USD | −0.193% | +0.0050% | 1h | $291K | $411K | 10x | as long as short |
| Vest MSFT-USD-PERP | −0.160% | +0.0046% | 1h | — | — | 25x | as long as short |
| KuCoin MSFTUSDTM | −0.154% | +0.0100% | 8h | $1.5M | $6K | 20x | as long as short |
| Hotstuff MSFT-PERPshort | −0.146% | −0.1552% | 1h | $40K | — | 20x | |
| Nado MSFT-PERP | −0.144% | −0.0017% | 1h | $459K | $3K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.140% | +0.0050% | 1h | $23.2M | $5.9M | 20x | as long as short |
| Ondo Perps MSFT-USD.P | −0.128% | +0.0050% | 1h | $539K | $369K | 15x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | −0.102% | 0.0000% | 1h | $27K | $97K | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | −0.092% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| Arcus MSFT-USD | −0.084% | +0.0151% | 1h | $112K | $49K | 10x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| ApeX Omni MSFTUSDT | −0.084% | +0.0100% | 1h | $157K | $7K | 50x | as long as short |
| Lighter RH MSFT | −0.080% | +0.0032% | 1h | $693K | $2.1M | 20x | as long as short |
| Phoenix MSFT | −0.078% | +0.0016% | 1h | $10K | $15K | 20x | as long as short |
| Paradex MSFT-USD-PERP | −0.072% | +0.0053% | 8h | $218 | — | 5x | as long as short |
| Gate MSFT_USDT | −0.071% | 0.0000% | 8h | $3.1M | $961K | 100x | as long as short |
| Aevo MSFT-PERP | −0.069% | +0.0104% | 1h | $54 | — | 10x | as long as short |
| QFEX MSFT-USD | −0.057% | +0.0038% | 1h | $1.1M | $3.1M | 10x | as long as short |
| Bybit MSFTUSDT | −0.055% | 0.0000% | 8h | $7.2M | $923K | 100x | as long as short |
| Extended MSFT_24_5-USD | −0.054% | 0.0000% | 1h | $329K | $380K | 17x | as long as short |
| SoDEX MSFT-USD | −0.053% | +0.0050% | 1h | $59K | $3K | 10x | as long as short |
| Bitget MSFTUSDT | −0.049% | 0.0000% | 8h | $3.8M | $1.5M | 100x | as long as short |
| HTX MSFT-USDT | −0.045% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Lighter MSFT | −0.033% | +0.0032% | 1h | $1.1M | $522K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | −0.029% | 0.0000% | 8h | $3.0M | $889K | 20x | as long as short |
| Aster MSFTUSDT | −0.027% | 0.0000% | 8h | $153K | $57K | 20x | as long as short |
| Binance MSFTUSDT | −0.025% | 0.0000% | 8h | $15.7M | $11.9M | 20x | as long as short |
| edgeX MSFTUSDC | −0.023% | −0.0010% | 4h | $101K | $244K | 10x | as long as short |
| BloFin MSFT-USDT | −0.017% | +0.0026% | 8h | $191K | $123K | 20x | as long as short |
| Variational Omni MSFTlong | 0.000% | 0.0000% | 8h | $1.3M | $652K | — | |
| Phemex MSFTUSDT | +0.056% | 0.0000% | 8h | $2.1M | $418K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.062% | +0.0220% | 1h | $158K | $140K | 30x | as long as short |
| Coinbase International MSFT-PERP-INTX | +0.068% | −0.0016% | 1h | $666K | $327K | 10x | as long as short |
| SunX MSFT-USDT | +0.157% | 0.0000% | 8h | $6K | $3.4M | 20x | as long as short |