Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against HTX−0.065%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.065%, 7d avg −0.003%

Together, before fees+0.114%+$11 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: Bybit is 0.063% cheaper against HTX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	503.87	0	get 0.0000% / 8h	7h 25m	$59K	$225K	20x
Short	Bybit MSFTUSDT	503.54	0	get 0.0000% / 8h	7h 25m	$7.2M	$2.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → −0.003%: −$6.26
Slippage, 4 orders: −$17.82
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$47.09
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from HTX: live order book, 6 min ago; Bybit: live order book, 3 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, 6 min ago	2.78 bp	10.3 bp −$10	18.5 bp −$185	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.60 bp	11.1 bp −$11	17.3 bp −$173	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	−0.0056%	1h	503.90	+0.006%	$681K	$480K	10x	as long as short
Nado MSFT-PERP	−0.0023%	1h	503.44	−0.085%	$414K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.96	+0.017%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.82	−0.010%	$335K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.97	+0.020%	$15.9M	$19.3M	20x	as long as short
Bybit MSFTUSDTshort	0.0000%	8h	503.54	−0.065%	$7.2M	$2.3M	100x
OKX MSFT-USDT-SWAP	0.0000%	8h	503.95	+0.016%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.60	−0.054%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.93	+0.012%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.92	+0.009%	$1.3M	$387K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	504.32	+0.090%	$19K	$315K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.73	+0.171%	$6K	$3.5M	20x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	503.87	long leg	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	504.40	+0.105%	$2.2M	$840K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.98	+0.022%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	503.35	−0.103%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0020%	8h	503.99	+0.024%	$192K	$203K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.89	+0.004%	$1.1M	$4.6M	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.62	−0.050%	$1.2M	$517K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.67	−0.040%	$699K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.65	−0.044%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.77	−0.020%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.35	−0.103%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.41	−0.091%	$303K	$650K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.68	−0.038%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.48	−0.077%	$514K	$397K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.72	−0.030%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.59	−0.056%	$1.6M	$115K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.71	−0.032%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.78	−0.018%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.78	−0.019%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0187%	1h	503.66	−0.042%	$27K	$45K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.84	+0.391%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0795%	4h	504.18	+0.061%	$103K	$242K	10x	as long as short