Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: HTX against Lighter RH+0.036%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$210.215% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now +0.036%, 7d avg +0.046%

Together, before fees+0.050%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH MSFT	501.14	0.0032	pay 0.0004% / 1h	7m 53s	$676K	$2.0M	20x
Short	HTX MSFT-USDT	501.32	0	get 0.0000% / 8h	4h 07m	$59K	$225K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter RH. 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 Lighter RHbpFee HTXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$6.72
Price spread: +0.036% → +0.046%: −$0.97
Slippage, 4 orders: −$9.46
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$29.15
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; HTX: live order book, 49 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 Lighter RH live order book, 5 min ago	1.40 bp	1.6 bp −$2	5.0 bp −$50	43.1 bp −$4,313	doesn't fit
Sell HTX live order book, 49 min ago	2.79 bp	8.8 bp −$9	14.7 bp −$147	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	−0.0040%	1h	500.97	−0.034%	$677K	$457K	10x	as long as short
Nado MSFT-PERP	−0.0019%	1h	501.19	+0.010%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0003%	8h	501.42	+0.056%	$189K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.21	+0.014%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.26	+0.024%	$337K	$890K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.39	+0.050%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.04	−0.020%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.51	+0.074%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.20	+0.012%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.29	+0.030%	$4.5M	$2.5M	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	501.23	+0.018%	$1.3M	$613K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.34	+0.040%	$19K	$301K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.17	+0.206%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.99	−0.030%	$27K	$41K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	501.32	+0.036%	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	501.60	+0.092%	$2.2M	$770K	10x	as long as short
Lighter RH MSFTlong	+0.0032%	1h	501.14	long leg	$676K	$2.0M	20x
QFEX MSFT-USD	+0.0036%	1h	501.26	+0.024%	$1.2M	$5.0M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.09	−0.010%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.37	+0.046%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.13	−0.002%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.87	−0.054%	$22.0M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.98	−0.032%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.22	+0.016%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.94	−0.040%	$527K	$444K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.27	+0.025%	$221	—	5x	as long as short
Lighter MSFT	+0.0096%	1h	501.40	+0.052%	$1.1M	$499K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.09	−0.010%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.89	−0.050%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.22	+0.016%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.22	+0.016%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0160%	1h	500.86	−0.056%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.76	+0.124%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0590%	4h	501.25	+0.021%	$102K	$242K	10x	as long as short