Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against SunX−0.142%7-day average −0.176% · you buy dearer than you sell

Net, funding: paid 7d − costs−$234as in the Funding arb table

Net, price: spread back to 7d avg − costs−$230as in the Price arb table

costs, in and out, $10k−$2342.339% of the position

Long on SunX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now −0.142%, 7d avg −0.176%

Together, before fees−0.034%−$3 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 0.034% dearer against SunX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.176%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	501.54	0	get 0.0000% / 8h	4h 22m	$6K	$4.4M	20x
Short	HTX MSFT-USDT	500.83	0	get 0.0000% / 8h	4h 22m	$58K	$231K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against SunX. 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 SunXbpFee HTXbpOrdersPrice spread, now −0.142%Rate

Funding earned: $0
Price spread: −0.142% → −0.176%: $3.41
Slippage, 4 orders: −$213.88
Fee SunX: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$230.47
Costs to cover: 2.339%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; HTX: live order book, 8 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 SunX live order book, 10 min ago	29.14 bp	111.9 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 8 min ago	2.80 bp	8.8 bp −$9	11.2 bp −$112	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	−0.0036%	1h	500.77	−0.153%	$447K	$41K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.15	−0.277%	$687K	$377K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	500.76	−0.155%	$156K	$87K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	500.96	−0.116%	$374K	$398K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	500.98	−0.111%	$15.7M	$17.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	500.92	−0.124%	$7.3M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.00	−0.108%	$3.1M	$2.2M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	500.67	−0.173%	$3.0M	$1.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	500.70	−0.168%	$1.3M	$732K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	500.67	−0.173%	$19K	$338K	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-USDTlong	0.0000%	8h	501.54	long leg	$6K	$4.4M	20x
HTX MSFT-USDTshort	0.0000%	8h	500.83	−0.142%	$58K	$231K	20x
Phemex MSFTUSDT	0.0000%	8h	501.13	−0.082%	$2.2M	$719K	10x	as long as short
BloFin MSFT-USDT	+0.0001%	8h	500.71	−0.165%	$192K	$202K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0010%	1h	500.95	−0.118%	$27K	$115K	10x	as long as short
Bitget MSFTUSDT	+0.0015%	8h	501.01	−0.106%	$3.8M	$1.8M	100x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	500.51	−0.205%	$40K	—	20x	as long as short
Lighter MSFT	+0.0032%	1h	501.06	−0.096%	$1.1M	$624K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	500.94	−0.120%	$674K	$2.2M	20x	as long as short
QFEX MSFT-USD	+0.0045%	1h	500.68	−0.171%	$1.2M	$5.3M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	500.88	−0.132%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.72	−0.163%	$22.5M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.52	−0.203%	$299K	$450K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	500.94	−0.120%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	500.70	−0.167%	$220	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.44	−0.219%	$510K	$458K	15x	as long as short
Phoenix MSFT	+0.0080%	1h	500.73	−0.162%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.49	−0.209%	$1.5M	$11K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.58	−0.191%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	500.89	−0.130%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	500.90	−0.128%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	500.66	−0.175%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0553%	1h	500.73	−0.162%	$111K	$76K	10x	as long as short
edgeX MSFTUSDC	+0.0773%	4h	500.68	−0.171%	$102K	$243K	10x	as long as short