Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against HTX−0.151%7-day average −0.078% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.151%, 7d avg −0.078%

Together, before fees+0.178%+ Points / potential airdropOndo Perps: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.073% cheaper against HTX than usual: you would sell low and buy high (spread −0.151% now, against its 7-day average of −0.078%). If the spread goes back, that is −$7 on $10k: about 4.8 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	504.34	0	get 0.0000% / 8h	7h 55m	$59K	$224K	20x
Short	Ondo Perps MSFT-USD.P	503.58	0.0050	get 0.0006% / 1h	55m 20s	$513K	$430K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.151%Rate

Funding earned: $10.58
Price spread: −0.151% → −0.078%: −$7.25
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$13.67
Costs to cover: 0.170%
Break-even: 16.0 days

Slippage unknown: HTX: live order book, 41 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 41 min ago	2.68 bp	9.3 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Nado MSFT-PERP	−0.0060%	1h	503.78	−0.110%	$415K	$67K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.71	−0.125%	$689K	$477K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.17	−0.034%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.28	−0.012%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.38	+0.008%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.19	−0.030%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.52	+0.036%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.08	−0.052%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.46	+0.024%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.97	−0.073%	$1.3M	$392K	—	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	−0.175%	$19K	$318K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.37	+0.204%	$6K	$3.7M	20x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	504.34	long leg	$59K	$224K	20x
Phemex MSFTUSDT	0.0000%	8h	504.76	+0.083%	$2.2M	$823K	10x	as long as short
BloFin MSFT-USDT	+0.0017%	8h	504.30	−0.008%	$192K	$205K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.00	−0.067%	$1.2M	$4.6M	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	503.09	−0.248%	$32K	$8K	20x	as long as short
Lighter MSFT	+0.0032%	1h	504.32	−0.004%	$1.2M	$509K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.26	−0.016%	$706K	$1.8M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.79	−0.109%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.16	−0.036%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.76	−0.115%	$22.5M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.80	−0.107%	$303K	$704K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.15	−0.038%	$61K	$3K	10x	as long as short
edgeX MSFTUSDC	+0.0050%	4h	503.74	−0.119%	$102K	$242K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	503.58	−0.151%	$513K	$430K	15x
Paradex MSFT-USD-PERP	+0.0051%	8h	503.78	−0.111%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.05	−0.256%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.52	−0.163%	$1.6M	$87K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.95	−0.276%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.09	−0.050%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.15	−0.037%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0127%	1h	504.34	0.000%	$27K	$44K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	−0.093%	$115K	$45K	30x	as long as short