Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0947%/8h= +103.7% APRpaid last 24h −0.061%

Price spread now: edgeX against HTX−0.043%7-day average +0.010% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$380.379% of the position

Long on HTX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.043%, 7d avg +0.010%

Together, before fees+0.063%+ Points / potential airdropedgeX: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.053% cheaper against HTX than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of +0.010%). If the spread goes back, that is −$5 on $10k: about 4 hours of funding at the current rate (+$28 a day). At the pace of the last 7 days (+0.030% in total) that is about 12 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.030% in total (about 1.6% 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	HTX MSFT-USDT	503.76	0	get 0.0000% / 8h	7h 56m	$59K	$225K	20x
Short	edgeX MSFTUSDC	503.54	0.0947	get 0.0473% / 4h	3h 56m	$102K	$244K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against HTX. 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 HTXbpFee edgeXbpOrdersPrice spread, now −0.043%Rate

Funding earned: $198.79
Price spread: −0.043% → +0.010%: −$5.25
Slippage, 4 orders: −$16.92
Fee HTX: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $155.62
Costs to cover: 0.379%
Break-even: 1.5 days

Slippage from HTX: live order book, 40 min ago; edgeX: live order book, 41 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 HTX live order book, 40 min ago	2.68 bp	9.3 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell edgeX live order book, 41 min ago	5.26 bp	9.9 bp −$10	12.2 bp −$122	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	503.34	−0.083%	$690K	$480K	10x	as long as short
Nado MSFT-PERP	−0.0052%	1h	503.48	−0.055%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.86	+0.019%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.66	−0.020%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.99	+0.046%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.70	−0.012%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.07	+0.062%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.54	−0.044%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.82	+0.012%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	−0.029%	$1.3M	$400K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.46	−0.060%	$19K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.63	+0.173%	$6K	$3.7M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.66	−0.020%	$27K	$44K	10x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	503.76	long leg	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	504.23	+0.093%	$2.2M	$820K	10x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.96	+0.040%	$1.1M	$4.6M	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	503.09	−0.133%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	503.89	+0.026%	$192K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.57	−0.038%	$1.2M	$509K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.49	−0.054%	$705K	$1.8M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.80	+0.008%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.72	−0.008%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.29	−0.093%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.45	−0.062%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.61	−0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.58	−0.036%	$513K	$430K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.57	−0.038%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.05	−0.141%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.21	−0.109%	$1.6M	$86K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.95	−0.161%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.77	+0.002%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.83	+0.013%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	+0.022%	$115K	$45K	30x	as long as short
edgeX MSFTUSDCshort	+0.0947%	4h	503.54	−0.043%	$102K	$244K	10x