Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Variational Omni against HTX+0.017%7-day average +0.007% · you sell dearer than you buy

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

Long on HTX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now +0.017%, 7d avg +0.007%

Together, before fees−0.041%+ Points / potential airdropVariational Omni: Active · farm board−$4 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	501.59	0	get 0.0000% / 8h	2m 43s	$59K	$228K	20x
Short	Variational Omni MSFT	501.68	0	get 0.0000% / 8h	2m 43s	$1.3M	$692K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → +0.007%: $1.03
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.97
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 9 min ago; Variational Omni: RFQ quote, 1 min ago. 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, 9 min ago	2.69 bp	8.7 bp −$9	17.0 bp −$170	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.53 bp	doesn't fit	13.2 bp −$132	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
edgeX MSFTUSDC	−0.0978%	4h	501.69	+0.020%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0020%	1h	501.34	−0.049%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.034%	$687K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.73	+0.029%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.60	+0.001%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.69	+0.019%	$15.6M	$19.0M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.77	+0.036%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.41	−0.036%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.69	+0.020%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFTshort	0.0000%	8h	501.68	+0.017%	$1.3M	$692K	—

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	501.74	+0.030%	$18K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.46	+0.173%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	501.59	long leg	$59K	$228K	20x
Phemex MSFTUSDT	0.0000%	8h	501.91	+0.064%	$2.2M	$746K	10x	as long as short
Hotstuff MSFT-PERP	+0.0008%	1h	501.27	−0.064%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	501.74	+0.030%	$188K	$209K	20x	as long as short
Bybit MSFTUSDT	+0.0032%	8h	501.78	+0.038%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.50	−0.018%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.52	−0.014%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.65	+0.012%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.27	−0.064%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.27	−0.064%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.59	0.000%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.22	−0.074%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.57	−0.005%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.51	−0.016%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.17	−0.084%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.33	−0.052%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.63	+0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.62	+0.007%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0149%	1h	501.50	−0.018%	$27K	$102K	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.73	+0.028%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.31	+0.144%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.55	−0.008%	$97K	$109K	10x	as long as short