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 GRVT−0.004%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on GRVT Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.004%, 7d avg −0.016%

Together, before fees+0.020%+ Points / potential airdropGRVT: Active · farm board+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSFT_USDT_Perp	503.86	0	get 0.0000% / 8h	2h 31m	$18K	$316K	10x
Short	HTX MSFT-USDT	503.84	0	get 0.0000% / 8h	2h 31m	$59K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against GRVT. 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 GRVTbpFee HTXbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.016%: $1.18
Slippage, 4 orders: −$15.86
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$35.68
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from GRVT: live order book, 16 min ago; HTX: live order book, 15 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 GRVT live order book, 16 min ago	1.19 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 15 min ago	2.69 bp	10.0 bp −$10	14.5 bp −$145	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	−0.0759%	4h	503.75	−0.021%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.26	−0.119%	$682K	$465K	10x	as long as short
BloFin MSFT-USDT	−0.0015%	8h	503.79	−0.014%	$190K	$206K	20x	as long as short
Nado MSFT-PERP	−0.0013%	1h	503.89	+0.005%	$413K	$66K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.80	−0.011%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.82	−0.008%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.94	+0.016%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.72	−0.028%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.89	+0.006%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.69	−0.034%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.86	0.000%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.69	−0.034%	$1.3M	$479K	—	as long as short
GRVT MSFT_USDT_Perplong	0.0000%	8h	503.86	long leg	$18K	$316K	10x
SunX MSFT-USDT	0.0000%	8h	504.78	+0.183%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.75	−0.022%	$27K	$42K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	503.84	−0.004%	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	504.01	+0.030%	$2.2M	$796K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.58	−0.056%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.85	−0.002%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.83	−0.006%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.50	−0.071%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.92	+0.012%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.64	−0.044%	$22.3M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.66	−0.040%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.72	−0.028%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.02	−0.167%	$517K	$470K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.87	+0.003%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	503.44	−0.083%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.33	−0.105%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.54	−0.064%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.86	0.000%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.93	+0.014%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	504.12	+0.052%	$1.2M	$506K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.036%	$115K	$45K	30x	as long as short