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 0.000%

Price spread now: HTX against OKX+0.052%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on OKX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now +0.052%, 7d avg −0.010%

Together, before fees−0.058%−$6 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: HTX is 0.062% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MSFT-USDT-SWAP	503.68	0	get 0.0000% / 8h	3h 03m	$3.0M	$2.3M	20x
Short	HTX MSFT-USDT	503.94	0	get 0.0000% / 8h	3h 03m	$59K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against OKX. 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 OKXbpFee HTXbpOrdersPrice spread, now +0.052%Rate

Funding earned: $0
Price spread: +0.052% → −0.010%: $6.2
Slippage, 4 orders: −$11.73
Fee OKX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$27.54
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from OKX: live order book, 4 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 OKX live order book, 4 min ago	0.20 bp	7.6 bp −$8	16.1 bp −$161	doesn't fit	doesn't fit
Sell HTX live order book, 48 min ago	2.69 bp	8.7 bp −$9	9.9 bp −$99	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	−0.0099%	1h	503.36	−0.063%	$414K	$65K	20x	as long as short
Hotstuff MSFT-PERP	−0.0048%	1h	503.13	−0.109%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	503.33	−0.069%	$685K	$460K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.46	−0.044%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.66	−0.003%	$337K	$1.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.81	+0.026%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.46	−0.044%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAPlong	0.0000%	8h	503.68	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	503.54	−0.028%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.61	−0.014%	$4.4M	$2.6M	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	503.40	−0.056%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.55	−0.025%	$18K	$303K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.60	+0.183%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	503.94	+0.052%	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	504.14	+0.091%	$2.2M	$786K	10x	as long as short
BloFin MSFT-USDT	+0.0013%	8h	503.82	+0.028%	$190K	$205K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0017%	1h	503.25	−0.085%	$22.3M	$8.8M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.66	−0.004%	$1.1M	$514K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.41	−0.054%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.62	−0.012%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.29	−0.077%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.60	−0.016%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.27	−0.081%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.33	−0.069%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.63	−0.010%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.08	−0.119%	$512K	$458K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.56	−0.023%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.08	−0.119%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.52	−0.032%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.56	−0.024%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.57	−0.023%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0108%	1h	503.51	−0.034%	$27K	$42K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.84	+0.032%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0954%	4h	503.42	−0.051%	$102K	$243K	10x	as long as short