Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Extended against HTX+0.023%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

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

Long on HTX Short on Extended

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)−0.074%−$7 · spread now +0.023%, 7d avg −0.008%

Together, before fees−0.059%+ Points / potential airdropExtended: Active · farm board−$6 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: Extended is 0.031% dearer against HTX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	501.76	0	get 0.0000% / 8h	1h 35m	$59K	$229K	20x
Short	Extended MSFT_24_5-USD	501.87	0	get 0.0000% / 1h	35m 39s	$358K	$383K	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → −0.008%: $3.07
Slippage, 4 orders: −$13.98
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.9
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from HTX: live order book, 46 min ago; Extended: live order book, 47 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, 46 min ago	2.99 bp	10.6 bp −$11	19.7 bp −$197	doesn't fit	doesn't fit
Sell Extended live order book, 47 min ago	0.60 bp	5.7 bp −$6	22.1 bp −$221	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
BloFin MSFT-USDT	−0.0008%	8h	502.20	+0.088%	$188K	$210K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.99	+0.046%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDshort	0.0000%	1h	501.87	+0.023%	$358K	$383K	17x
Binance MSFTUSDT	0.0000%	8h	501.92	+0.032%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.96	+0.040%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.73	−0.006%	$3.1M	$1.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.00	+0.047%	$1.3M	$708K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.08	+0.065%	$18K	$319K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.86	+0.219%	$6K	$4.4M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.036%	$688K	$449K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX MSFT-USDTlong	0.0000%	8h	501.76	long leg	$59K	$229K	20x
Phemex MSFTUSDT	0.0000%	8h	501.93	+0.034%	$2.2M	$762K	10x	as long as short
Bitget MSFTUSDT	+0.0005%	8h	502.00	+0.048%	$3.8M	$2.2M	100x	as long as short
Bybit MSFTUSDT	+0.0023%	8h	501.94	+0.036%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.79	+0.006%	$653K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.92	+0.032%	$1.2M	$5.8M	10x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	501.57	−0.038%	$32K	$8K	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.75	−0.002%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.46	−0.060%	$22.3M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.48	−0.056%	$305K	$683K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.84	+0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.60	−0.032%	$529K	$493K	15x	as long as short
Nado MSFT-PERP	+0.0053%	1h	501.50	−0.052%	$414K	$64K	20x	as long as short
Paradex MSFT-USD-PERP	+0.0064%	8h	501.79	+0.007%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.69	−0.014%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.44	−0.064%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.56	−0.040%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.83	+0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.92	+0.032%	$55	—	10x	as long as short
Lighter MSFT	+0.0176%	1h	502.01	+0.050%	$1.1M	$589K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	501.89	+0.026%	$110K	$90K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.34	+0.116%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0244%	4h	502.05	+0.058%	$102K	$242K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0288%	1h	501.74	−0.004%	$27K	$104K	10x	as long as short