Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.079%

Price spread now: HTX against Arcus−0.012%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.149%−$15 on $10k

Price spread, last 3 days (all we have)+0.027%+$3 · spread now −0.012%, 7d avg +0.017%

Together, before fees−0.122%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and HTX is 0.029% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	501.51	0.0212	pay 0.0026% / 1h	32m 47s	$97K	$109K	10x
Short	HTX MSFT-USDT	501.45	0	get 0.0000% / 8h	7h 32m	$59K	$227K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$44.47
Price spread: −0.012% → +0.017%: −$2.9
Slippage, 4 orders: −$18.29
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$82.16
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Arcus: live order book, 40 min ago; HTX: live order book, 39 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 Arcus live order book, 40 min ago	2.39 bp	8.7 bp −$9	9.5 bp −$95	19.5 bp −$1,945	doesn't fit
Sell HTX live order book, 39 min ago	2.69 bp	8.7 bp −$9	12.3 bp −$123	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	−0.0008%	1h	501.13	−0.076%	$680K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0002%	1h	501.31	−0.041%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0001%	8h	501.60	+0.018%	$188K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.69	+0.037%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.80	+0.057%	$337K	$1.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.90	+0.078%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.77	+0.052%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.82	+0.062%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.60	+0.018%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.82	+0.062%	$3.8M	$2.2M	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	501.74	+0.046%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.60	+0.018%	$19K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.36	+0.169%	$6K	$4.2M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.30	−0.042%	$27K	$41K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	501.45	−0.012%	$59K	$227K	20x
Phemex MSFTUSDT	0.0000%	8h	501.86	+0.070%	$2.2M	$757K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.74	+0.046%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.55	+0.008%	$1.1M	$5.9M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.43	−0.016%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.53	+0.004%	$22.3M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.25	−0.052%	$303K	$674K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.56	+0.010%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.39	−0.024%	$527K	$488K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.78	+0.055%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.66	+0.030%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0088%	1h	501.95	+0.088%	$1.1M	$486K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.71	+0.040%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.19	−0.064%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.48	−0.006%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.46	−0.010%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0112%	1h	501.26	−0.050%	$32K	$8K	20x	as long as short
Arcus MSFT-USDlong	+0.0212%	1h	501.51	long leg	$97K	$109K	10x
Injective MSFT/USDC PERP	+0.0220%	1h	502.00	+0.098%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0365%	4h	501.58	+0.014%	$102K	$243K	10x	as long as short