Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0983%/8h= −107.7% APRpaid last 24h +0.061%

Price spread now: HTX against edgeX−0.012%77s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.379% of the position

Long on edgeX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.012%, 7d avg −0.010%

Together, before fees−0.008%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: −$30 a day on $10k at the current rate. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.030% in total (about -1.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX MSFTUSDC	503.71	0.0983	pay 0.0492% / 4h	33m 59s	$102K	$243K	10x
Short	HTX MSFT-USDT	503.65	0	get 0.0000% / 8h	33m 59s	$59K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against edgeX. 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 edgeXbpFee HTXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$206.51
Price spread: −0.012% → −0.010%: −$0.19
Slippage, 4 orders: −$16.92
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$244.61
Costs to cover: 0.379%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; HTX: live order book, 2 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 edgeX live order book, 3 min ago	5.26 bp	10.0 bp −$10	12.4 bp −$124	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	2.68 bp	8.7 bp −$9	13.4 bp −$134	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
Nado MSFT-PERP	−0.0017%	1h	503.43	−0.056%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.76	+0.011%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.60	−0.021%	$338K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.74	+0.006%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.41	−0.059%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.88	+0.034%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.47	−0.047%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.68	−0.006%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.65	−0.012%	$1.3M	$407K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.78	+0.013%	$19K	$324K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	504.54	+0.165%	$6K	$3.8M	20x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.97	−0.147%	$682K	$447K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	503.65	−0.012%	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	503.78	+0.014%	$2.2M	$818K	10x	as long as short
BloFin MSFT-USDT	+0.0022%	8h	503.75	+0.008%	$190K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.59	−0.024%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.57	−0.027%	$707K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.59	−0.024%	$1.2M	$4.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.47	−0.047%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.75	+0.008%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.23	−0.095%	$22.4M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.42	−0.057%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.53	−0.035%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.32	−0.077%	$513K	$428K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	503.60	−0.021%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.47	−0.047%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	503.25	−0.091%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.11	−0.119%	$1.6M	$63K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.22	−0.097%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.67	−0.008%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.67	−0.008%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.90	+0.038%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0286%	1h	503.61	−0.020%	$27K	$44K	10x	as long as short
edgeX MSFTUSDClong	+0.0983%	4h	503.71	long leg	$102K	$243K	10x