Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex−0.024%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$790.789% of the position

Long on Phemex Short on HTX

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)−0.013%−$1 · spread now −0.024%, 7d avg −0.056%

Together, before fees−0.013%−$1 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 0.032% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MSFTUSDT	501.55	0	get 0.0000% / 8h	4h 15m	$2.2M	$768K	10x
Short	HTX MSFT-USDT	501.43	0	get 0.0000% / 8h	4h 15m	$59K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. 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 PhemexbpFee HTXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.056%: $3.19
Slippage, 4 orders: −$54.86
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$75.67
Costs to cover: 0.789%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; HTX: live order book, 41 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 Phemex live order book, 3 min ago	0.50 bp	28.4 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 41 min ago	2.79 bp	8.8 bp −$9	14.7 bp −$147	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	−0.0040%	1h	500.96	−0.118%	$678K	$456K	10x	as long as short
BloFin MSFT-USDT	−0.0021%	8h	501.53	−0.004%	$189K	$204K	20x	as long as short
Nado MSFT-PERP	−0.0008%	1h	501.30	−0.051%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.31	−0.048%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.34	−0.041%	$337K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.36	−0.038%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.16	−0.078%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.57	+0.004%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.23	−0.064%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.40	−0.030%	$4.5M	$2.5M	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	501.46	−0.017%	$1.3M	$615K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.52	−0.007%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.30	+0.150%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	501.43	−0.024%	$59K	$225K	20x
Phemex MSFTUSDTlong	0.0000%	8h	501.55	long leg	$2.2M	$768K	10x
Lighter RH MSFT	+0.0032%	1h	501.24	−0.062%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.35	−0.040%	$1.2M	$5.2M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.25	−0.060%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.37	−0.036%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.24	−0.062%	$10K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	501.36	−0.038%	$27K	$41K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.96	−0.118%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.04	−0.102%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.32	−0.046%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.10	−0.090%	$528K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.40	−0.029%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.16	−0.078%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.99	−0.112%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.36	−0.038%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.31	−0.048%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.46	−0.018%	$1.1M	$499K	20x	as long as short
Hotstuff MSFT-PERP	+0.0152%	1h	501.02	−0.106%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.63	+0.016%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0784%	4h	501.53	−0.005%	$102K	$244K	10x	as long as short