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: OKX against HTX+0.050%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on HTX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.050%, 7d avg +0.010%

Together, before fees−0.043%−$4 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: OKX is 0.039% dearer against HTX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	503.10	0	get 0.0000% / 8h	2h 54m	$59K	$225K	20x
Short	OKX MSFT-USDT-SWAP	503.35	0	get 0.0000% / 8h	2h 54m	$3.0M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → +0.010%: $3.94
Slippage, 4 orders: −$13.7
Fee HTX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.76
Costs to cover: 0.357%
Break-even: never at this rate

Slippage from HTX: live order book, 57 min ago; OKX: live order book, 3 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, 57 min ago	2.69 bp	8.8 bp −$9	17.0 bp −$170	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.60 bp	9.2 bp −$9	17.2 bp −$172	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	−0.0064%	1h	503.29	+0.038%	$685K	$461K	10x	as long as short
Nado MSFT-PERP	−0.0049%	1h	502.90	−0.039%	$412K	$66K	20x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	503.14	+0.008%	$190K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.96	−0.027%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.07	−0.005%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.21	+0.022%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.94	−0.032%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	503.35	+0.050%	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	502.98	−0.024%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.14	+0.008%	$4.4M	$2.6M	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	503.19	+0.017%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.45	+0.071%	$19K	$307K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.97	+0.173%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.84	−0.052%	$27K	$42K	10x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	503.10	long leg	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	503.56	+0.091%	$2.2M	$791K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	502.80	−0.060%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.23	+0.026%	$1.2M	$495K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.96	−0.028%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.16	+0.012%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.11	+0.002%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.15	+0.010%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.13	+0.006%	$11K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	502.81	−0.058%	$22.3M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.84	−0.052%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.95	−0.030%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.83	−0.054%	$513K	$463K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.04	−0.012%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.89	−0.042%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.22	+0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.01	−0.018%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.07	−0.006%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0118%	4h	503.66	+0.111%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.028%	$115K	$45K	30x	as long as short