Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: HTX against Lighter RH−0.012%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now −0.012%, 7d avg +0.048%

Together, before fees+0.037%+ Points / potential airdropLighter RH: Points live · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.060% cheaper against Lighter RH than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	502.15	0.0032	pay 0.0004% / 1h	45m 10s	$639K	$2.1M	20x
Short	HTX MSFT-USDT	502.09	0	get 0.0000% / 8h	45m 10s	$59K	$227K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter RH. 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 Lighter RHbpFee HTXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$6.72
Price spread: −0.012% → +0.048%: −$5.99
Slippage, 4 orders: −$9.3
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.01
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; HTX: live order book, 31 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 Lighter RH live order book, 3 min ago	1.20 bp	1.8 bp −$2	4.5 bp −$45	41.2 bp −$4,120	doesn't fit
Sell HTX live order book, 31 min ago	2.89 bp	8.9 bp −$9	11.3 bp −$113	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	−0.0026%	8h	502.32	+0.034%	$188K	$209K	20x	as long as short
Nado MSFT-PERP	−0.0023%	1h	501.96	−0.038%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.078%	$687K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.21	+0.012%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.22	+0.014%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.32	+0.033%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.31	+0.032%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.05	−0.020%	$3.2M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.29	+0.028%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.26	+0.022%	$1.3M	$702K	—	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	502.15	+0.001%	$18K	$308K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.07	+0.183%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	502.09	−0.012%	$59K	$227K	20x
Phemex MSFTUSDT	0.0000%	8h	502.43	+0.056%	$2.2M	$753K	10x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	501.87	−0.056%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0027%	8h	502.34	+0.038%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	502.15	long leg	$639K	$2.1M	20x
Vest MSFT-USD-PERP	+0.0046%	1h	502.13	−0.004%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.19	+0.008%	$1.1M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.87	−0.056%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.80	−0.070%	$303K	$678K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.22	+0.014%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.76	−0.078%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	502.18	+0.005%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.96	−0.038%	$11K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	502.09	−0.012%	$27K	$101K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.73	−0.084%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.73	−0.084%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.19	+0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.23	+0.015%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.36	+0.042%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.57	+0.084%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.15	0.000%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0785%	4h	502.22	+0.014%	$102K	$243K	10x	as long as short