Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: HTX against ApeX Omni+0.026%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on ApeX Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.085%+$9 · spread now +0.026%, 7d avg +0.063%

Together, before fees−0.125%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.037% cheaper against ApeX Omni than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni MSFTUSDT	500.85	0.0100	pay 0.0013% / 1h	6m 46s	$159K	$7K	50x
Short	HTX MSFT-USDT	500.98	0	get 0.0000% / 8h	5h 06m	$58K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee HTXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$21
Price spread: +0.026% → +0.063%: −$3.68
Slippage, 4 orders: −$15.96
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$62.65
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 54 min ago; HTX: live order book, 55 min ago.

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 ApeX Omni live order book, 54 min ago	5.09 bp	10.1 bp −$10	65.2 bp −$652	doesn't fit	doesn't fit
Sell HTX live order book, 55 min ago	2.69 bp	8.7 bp −$9	14.3 bp −$143	doesn't fit	doesn't fit

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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	500.97	+0.024%	$678K	$458K	10x	as long as short
Nado MSFT-PERP	−0.0034%	1h	500.94	+0.017%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0005%	8h	501.11	+0.052%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.17	+0.065%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	500.92	+0.014%	$337K	$892K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.07	+0.044%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.84	−0.002%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.20	+0.070%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	500.95	+0.020%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.09	+0.048%	$4.5M	$2.5M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.10	+0.049%	$1.3M	$647K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.19	+0.067%	$18K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	501.92	+0.214%	$6K	$4.1M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.83	−0.004%	$27K	$41K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	500.98	+0.026%	$58K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	501.44	+0.118%	$2.2M	$773K	10x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.06	+0.042%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.87	+0.004%	$682K	$2.0M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	500.93	+0.016%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	500.97	+0.024%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.66	−0.038%	$22.1M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.71	−0.028%	$301K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	500.97	+0.024%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.83	−0.004%	$516K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.04	+0.037%	$220	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	500.87	+0.004%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.91	+0.012%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDTlong	+0.0100%	1h	500.85	long leg	$159K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.00	+0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	500.98	+0.026%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0128%	1h	500.74	−0.022%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0168%	1h	501.10	+0.050%	$1.1M	$479K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.73	+0.176%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0731%	4h	501.12	+0.053%	$102K	$242K	10x	as long as short