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 −0.003%

Price spread now: HTX against Bybit+0.014%7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now +0.014%, 7d avg 0.000%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MSFTUSDT	501.51	0	get 0.0000% / 8h	7h 23m	$7.4M	$1.6M	100x
Short	HTX MSFT-USDT	501.58	0	get 0.0000% / 8h	7h 23m	$58K	$227K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bybit. 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 BybitbpFee HTXbpOrdersPrice spread, now +0.014%Rate

Funding earned: $0
Price spread: +0.014% → 0.000%: $1.35
Slippage, 4 orders: −$14.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$36.5
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; HTX: live order book, 48 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 Bybit live order book, 5 min ago	0.80 bp	9.9 bp −$10	20.5 bp −$205	doesn't fit	doesn't fit
Sell HTX live order book, 48 min ago	2.69 bp	8.7 bp −$9	12.3 bp −$123	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	−0.0336%	4h	501.89	+0.077%	$102K	$242K	10x	as long as short
BloFin MSFT-USDT	−0.0019%	8h	501.72	+0.042%	$188K	$205K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	501.24	−0.054%	$685K	$453K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.62	+0.022%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.52	+0.003%	$337K	$1.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.66	+0.029%	$15.7M	$18.7M	20x	as long as short
Bybit MSFTUSDTlong	0.0000%	8h	501.51	long leg	$7.4M	$1.6M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	501.79	+0.056%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.47	−0.008%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.73	+0.044%	$3.8M	$2.1M	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	501.86	+0.070%	$1.3M	$690K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.95	+0.088%	$19K	$289K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.47	+0.191%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	501.58	+0.014%	$58K	$227K	20x
Phemex MSFTUSDT	0.0000%	8h	501.74	+0.046%	$2.2M	$758K	10x	as long as short
Nado MSFT-PERP	+0.0004%	1h	501.27	−0.047%	$414K	$64K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0009%	1h	501.35	−0.032%	$27K	$41K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.42	−0.018%	$619K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0044%	1h	501.58	+0.014%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.54	+0.006%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.22	−0.058%	$22.2M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.26	−0.050%	$303K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.55	+0.008%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.07	−0.088%	$528K	$502K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	501.44	−0.014%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.70	+0.038%	$10K	$15K	20x	as long as short
Lighter MSFT	+0.0096%	1h	501.64	+0.026%	$1.1M	$486K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.43	−0.016%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.56	+0.010%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.50	−0.002%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.57	+0.011%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0144%	1h	501.22	−0.058%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0212%	1h	501.69	+0.036%	$97K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.82	+0.062%	$115K	$45K	30x	as long as short