Funding arb · Price arb /

MSFT

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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 SunX−0.212%7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$235as in the Funding arb table

Net, price: spread back to 7d avg − costs−$238as in the Price arb table

costs, in and out, $10k−$2352.346% of the position

Long on SunX 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)+0.033%+$3 · spread now −0.212%, 7d avg −0.176%

Together, before fees+0.033%+$3 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 0.036% cheaper against SunX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.176%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	504.46	0	get 0.0000% / 8h	2h 34m	$6K	$3.9M	20x
Short	HTX MSFT-USDT	503.39	0	get 0.0000% / 8h	2h 34m	$59K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against SunX. 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 SunXbpFee HTXbpOrdersPrice spread, now −0.212%Rate

Funding earned: $0
Price spread: −0.212% → −0.176%: −$3.59
Slippage, 4 orders: −$214.57
Fee SunX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$238.16
Costs to cover: 2.346%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; HTX: live order book, 12 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 SunX live order book, 3 min ago	29.22 bp	110.3 bp −$110	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 12 min ago	2.69 bp	10.0 bp −$10	14.5 bp −$145	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	−0.0225%	4h	503.83	−0.126%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.26	−0.238%	$682K	$465K	10x	as long as short
BloFin MSFT-USDT	−0.0009%	8h	503.70	−0.151%	$190K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.36	−0.219%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.37	−0.217%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.48	−0.194%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.37	−0.216%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.63	−0.165%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.37	−0.216%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.58	−0.174%	$3.8M	$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	503.69	−0.153%	$1.3M	$479K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.67	−0.156%	$19K	$312K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	504.46	long leg	$6K	$3.9M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.43	−0.204%	$27K	$42K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	503.39	−0.212%	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	503.70	−0.151%	$2.2M	$796K	10x	as long as short
Nado MSFT-PERP	+0.0001%	1h	503.40	−0.210%	$412K	$66K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	503.57	−0.176%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.41	−0.208%	$689K	$2.0M	20x	as long as short
Hotstuff MSFT-PERP	+0.0032%	1h	503.27	−0.236%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.62	−0.167%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.42	−0.206%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.67	−0.157%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.13	−0.264%	$22.3M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.30	−0.230%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.45	−0.200%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.29	−0.232%	$517K	$470K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.54	−0.182%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.02	−0.285%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.30	−0.230%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.49	−0.192%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.55	−0.180%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	503.75	−0.141%	$1.2M	$506K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.85	−0.319%	$115K	$45K	30x	as long as short