Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against HTX−0.046%76s7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as 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−$380.382% of the position

Long on HTX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now −0.046%, 7d avg −0.061%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	503.43	0	get 0.0000% / 8h	10m 13s	$59K	$225K	20x
Short	ApeX Omni MSFTUSDT	503.20	0.0100	get 0.0013% / 1h	10m 13s	$160K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against HTX. 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 HTXbpFee ApeX OmnibpOrdersPrice spread, now −0.046%Rate

Funding earned: $21
Price spread: −0.046% → −0.061%: $1.57
Slippage, 4 orders: −$16.16
Fee HTX: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$15.59
Costs to cover: 0.382%
Break-even: 12.2 days

Slippage from HTX: live order book, 26 min ago; ApeX Omni: live order book, 26 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 HTX live order book, 26 min ago	2.68 bp	9.3 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 26 min ago	5.07 bp	10.1 bp −$10	58.8 bp −$588	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	−0.0053%	1h	503.40	−0.006%	$414K	$67K	20x	as long as short
BloFin MSFT-USDT	−0.0010%	8h	503.61	+0.036%	$191K	$206K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0003%	1h	503.13	−0.060%	$22.4M	$8.9M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.56	+0.026%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.44	+0.002%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.60	+0.034%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.35	−0.016%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.53	+0.020%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.31	−0.024%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.54	+0.022%	$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	503.50	+0.013%	$1.3M	$402K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.61	+0.036%	$19K	$320K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.39	+0.191%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.35	−0.016%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.07	−0.072%	$687K	$454K	10x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	503.43	long leg	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	503.67	+0.048%	$2.2M	$818K	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.50	+0.014%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.40	−0.006%	$706K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.48	+0.010%	$1.2M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.33	−0.020%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.70	+0.054%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.25	−0.036%	$303K	$717K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.31	−0.024%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.20	−0.046%	$512K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.44	+0.002%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.35	−0.016%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	503.09	−0.068%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.99	−0.087%	$1.6M	$71K	20x	as long as short
ApeX Omni MSFTUSDTshort	+0.0100%	1h	503.20	−0.046%	$160K	$7K	50x
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.42	−0.002%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.48	+0.009%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.80	+0.073%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0506%	4h	503.57	+0.027%	$102K	$244K	10x	as long as short