Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Bitget+0.002%46s7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.337% of the position

Long on Bitget Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$2 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now +0.002%, 7d avg −0.019%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.021% dearer against Bitget than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.019%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	501.25	0	get 0.0000% / 8h	3h 53m	$4.5M	$2.5M	100x
Short	HTX MSFT-USDT	501.26	0	get 0.0000% / 8h	3h 53m	$59K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bitget. 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 BitgetbpFee HTXbpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → −0.019%: $2.14
Slippage, 4 orders: −$9.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$31.54
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; HTX: live order book, 63 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 Bitget live order book, 5 min ago	0.10 bp	8.2 bp −$8	12.6 bp −$126	51.0 bp −$5,097	doesn't fit
Sell HTX live order book, 63 min ago	2.79 bp	8.8 bp −$9	14.7 bp −$147	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
edgeX MSFTUSDC	−0.0270%	4h	501.26	+0.001%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0126%	1h	501.24	−0.002%	$414K	$64K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0040%	1h	500.92	−0.066%	$22.1M	$8.7M	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	500.97	−0.056%	$677K	$450K	10x	as long as short
BloFin MSFT-USDT	−0.0004%	8h	501.34	+0.018%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.25	−0.001%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.21	−0.007%	$337K	$883K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.36	+0.021%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.06	−0.038%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.32	+0.014%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	501.21	−0.008%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	501.25	long leg	$4.5M	$2.5M	100x
Variational Omni MSFT	0.0000%	8h	501.25	−0.001%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.30	+0.009%	$19K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.14	+0.178%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.03	−0.044%	$27K	$42K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	501.26	+0.002%	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	501.46	+0.042%	$2.2M	$770K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	500.93	−0.064%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.39	+0.028%	$1.1M	$498K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.14	−0.022%	$678K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	501.24	−0.002%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.04	−0.042%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.35	+0.020%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.06	−0.038%	$10K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.97	−0.056%	$302K	$697K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.24	−0.002%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.94	−0.062%	$518K	$452K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	501.29	+0.009%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.76	−0.098%	$1.6M	$48K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.20	−0.010%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.19	−0.012%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.25	+0.001%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.70	+0.289%	$115K	$45K	30x	as long as short