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: HTX against OKX+0.052%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on OKX Short on HTX

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)−0.114%−$11 · spread now +0.052%, 7d avg −0.011%

Together, before fees−0.128%−$13 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: HTX is 0.063% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	504.30	0	get 0.0000% / 8h	7h 28m	$3.0M	$2.4M	20x
Short	HTX MSFT-USDT	504.56	0	get 0.0000% / 8h	7h 28m	$59K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against OKX. 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 OKXbpFee HTXbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → −0.011%: $6.29
Slippage, 4 orders: −$14.19
Fee OKX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$29.9
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; HTX: 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 OKX live order book, 4 min ago	0.99 bp	8.2 bp −$8	15.9 bp −$159	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	2.78 bp	8.8 bp −$9	11.9 bp −$119	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	−0.0313%	4h	504.33	+0.007%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.83	−0.093%	$682K	$478K	10x	as long as short
Nado MSFT-PERP	−0.0031%	1h	503.96	−0.068%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.36	+0.011%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.28	−0.004%	$335K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.30	0.000%	$15.9M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.02	−0.056%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	504.30	long leg	$3.0M	$2.4M	20x
Gate MSFT_USDT	0.0000%	8h	504.07	−0.046%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	504.39	+0.018%	$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	504.34	+0.008%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.31	+0.003%	$19K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.17	+0.173%	$6K	$3.5M	20x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	504.56	+0.052%	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	504.53	+0.046%	$2.2M	$837K	10x	as long as short
BloFin MSFT-USDT	+0.0008%	8h	504.36	+0.012%	$192K	$204K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	504.07	−0.046%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	503.84	−0.091%	$33K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.24	−0.012%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.00	−0.059%	$1.2M	$513K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.00	−0.059%	$699K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.08	−0.044%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.30	0.000%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.84	−0.091%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.60	−0.139%	$303K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.09	−0.042%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.99	−0.061%	$514K	$395K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.13	−0.034%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.86	−0.087%	$1.6M	$112K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.83	−0.093%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.21	−0.018%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.22	−0.015%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0167%	1h	504.11	−0.038%	$27K	$45K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.84	+0.305%	$116K	$45K	30x	as long as short