Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against HTX+0.196%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$231as in the Price arb table

costs, in and out, $10k−$2332.333% of the position

Long on HTX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.196%, 7d avg +0.176%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	504.47	0	get 0.0000% / 8h	7h 53m	$59K	$225K	20x
Short	SunX MSFT-USDT	505.46	0	get 0.0000% / 8h	7h 53m	$6K	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.196%Rate

Funding earned: $0
Price spread: +0.196% → +0.176%: $1.99
Slippage, 4 orders: −$213.33
Fee HTX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$231.34
Costs to cover: 2.333%
Break-even: never at this rate

Slippage from HTX: live order book, 43 min ago; SunX: live order book, 4 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, 43 min ago	2.68 bp	9.3 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	29.33 bp	104.5 bp −$105	doesn't fit	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	504.26	−0.042%	$689K	$477K	10x	as long as short
Nado MSFT-PERP	−0.0055%	1h	504.21	−0.051%	$415K	$67K	20x	as long as short
Hotstuff MSFT-PERP	−0.0040%	1h	504.10	−0.073%	$33K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.49	+0.005%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.78	+0.060%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.94	+0.094%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.61	+0.028%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.97	+0.099%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.57	+0.020%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.88	+0.081%	$3.9M	$2.9M	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	503.97	−0.099%	$1.3M	$392K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.46	−0.200%	$19K	$318K	10x	as long as short
SunX MSFT-USDTshort	0.0000%	8h	505.46	+0.196%	$6K	$3.7M	20x
HTX MSFT-USDTlong	0.0000%	8h	504.47	long leg	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	505.13	+0.131%	$2.2M	$823K	10x	as long as short
BloFin MSFT-USDT	+0.0017%	8h	504.30	−0.034%	$192K	$205K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.61	+0.028%	$1.2M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.50	+0.006%	$1.2M	$509K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.45	−0.004%	$706K	$1.8M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.40	−0.014%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.52	+0.010%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	504.38	−0.018%	$22.5M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	504.06	−0.081%	$304K	$704K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.39	−0.016%	$61K	$3K	10x	as long as short
edgeX MSFTUSDC	+0.0050%	4h	503.74	−0.144%	$102K	$242K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.83	−0.127%	$513K	$426K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.53	+0.012%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.05	−0.281%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	504.25	−0.044%	$1.6M	$89K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.95	−0.301%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.45	−0.004%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.43	−0.009%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0186%	1h	504.53	+0.012%	$27K	$44K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.87	−0.119%	$115K	$45K	30x	as long as short