Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0596%/8h= −65.3% APRpaid last 24h +0.066%

Price spread now: HTX against edgeX−0.031%77s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$380.379% of the position

Long on edgeX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.031%, 7d avg −0.009%

Together, before fees+0.040%+ Points / potential airdropedgeX: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and HTX is 0.021% cheaper against edgeX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.034% in total (about -1.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	504.37	0.0596	pay 0.0298% / 4h	3h 32m	$103K	$244K	10x
Short	HTX MSFT-USDT	504.22	0	get 0.0000% / 8h	7h 32m	$59K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against edgeX. 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 edgeXbpFee HTXbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$125.19
Price spread: −0.031% → −0.009%: −$2.12
Slippage, 4 orders: −$16.92
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$165.22
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from edgeX: live order book, 65 min ago; HTX: live order book, 64 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 edgeX live order book, 65 min ago	5.26 bp	10.0 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell HTX live order book, 64 min ago	2.68 bp	8.7 bp −$9	13.4 bp −$134	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	−0.0056%	1h	503.83	−0.108%	$682K	$479K	10x	as long as short
Nado MSFT-PERP	−0.0044%	1h	503.99	−0.077%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	−0.0004%	8h	504.45	+0.015%	$192K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.27	−0.020%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.12	−0.050%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.26	−0.023%	$15.9M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.00	−0.074%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.22	−0.031%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.01	−0.072%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.10	−0.054%	$3.9M	$2.9M	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	504.37	−0.001%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.39	+0.003%	$19K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.21	+0.166%	$6K	$3.6M	20x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	504.22	−0.031%	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	504.56	+0.037%	$2.2M	$834K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.07	−0.060%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.17	−0.041%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.08	−0.058%	$1.2M	$513K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.04	−0.066%	$699K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.99	−0.076%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.26	−0.023%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.80	−0.114%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.80	−0.114%	$303K	$654K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.09	−0.056%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.04	−0.066%	$514K	$410K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.02	−0.069%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	503.80	−0.114%	$33K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.87	−0.100%	$1.6M	$111K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.93	−0.088%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.16	−0.043%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.20	−0.034%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0147%	1h	504.05	−0.064%	$27K	$45K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.84	+0.291%	$116K	$45K	30x	as long as short
edgeX MSFTUSDClong	+0.0596%	4h	504.37	long leg	$103K	$244K	10x