Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: HTX against Extended−0.009%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Extended Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 3 days (all we have)+0.089%+$9 · spread now −0.009%, 7d avg +0.008%

Together, before fees+0.074%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	501.77	0	get 0.0000% / 1h	3m 40s	$372K	$369K	17x
Short	HTX MSFT-USDT	501.73	0	get 0.0000% / 8h	2h 03m	$59K	$230K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Extended. 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 ExtendedbpFee HTXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.008%: −$1.71
Slippage, 4 orders: −$13.98
Fee Extended: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$32.69
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Extended: live order book, 19 min ago; HTX: live order book, 18 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 Extended live order book, 19 min ago	0.60 bp	5.7 bp −$6	33.4 bp −$334	doesn't fit	doesn't fit
Sell HTX live order book, 18 min ago	2.99 bp	9.0 bp −$9	12.7 bp −$127	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
Hotstuff MSFT-PERP	−0.0072%	1h	501.37	−0.081%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	501.47	−0.061%	$690K	$433K	10x	as long as short
BloFin MSFT-USDT	−0.0021%	8h	501.86	+0.017%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.99	+0.042%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	501.77	long leg	$372K	$369K	17x
Binance MSFTUSDT	0.0000%	8h	501.90	+0.025%	$15.7M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.89	+0.023%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.78	+0.001%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.69	−0.017%	$3.1M	$1.5M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.84	+0.013%	$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	501.88	+0.020%	$1.3M	$710K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.71	−0.013%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.68	+0.180%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.50	−0.055%	$27K	$104K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	501.73	−0.009%	$59K	$230K	20x
Phemex MSFTUSDT	0.0000%	8h	502.00	+0.045%	$2.2M	$768K	10x	as long as short
Nado MSFT-PERP	+0.0003%	1h	501.39	−0.078%	$414K	$64K	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.81	+0.007%	$1.1M	$654K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.67	−0.021%	$652K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.59	−0.037%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.40	−0.075%	$22.2M	$10.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.39	−0.077%	$309K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.79	+0.003%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.42	−0.071%	$521K	$494K	15x	as long as short
QFEX MSFT-USD	+0.0050%	1h	501.83	+0.011%	$1.1M	$5.7M	10x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.73	−0.009%	$221	—	5x	as long as short
Phoenix MSFT	+0.0096%	1h	501.60	−0.035%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.19	−0.117%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.23	−0.109%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.78	+0.001%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.83	+0.012%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	+0.260%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0531%	1h	501.70	−0.015%	$109K	$90K	10x	as long as short
edgeX MSFTUSDC	+0.0657%	4h	501.84	+0.013%	$102K	$243K	10x	as long as short