Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.081%

Price spread now: HTX against Arcus+0.028%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Arcus Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.155%−$15 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.028%, 7d avg +0.017%

Together, before fees−0.254%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, 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	Arcus MSFT-USD	504.18	0.0040	pay 0.0005% / 1h	36m 59s	$97K	$110K	10x
Short	HTX MSFT-USDT	504.32	0	get 0.0000% / 8h	7h 36m	$59K	$224K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Arcus. 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 ArcusbpFee HTXbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$8.46
Price spread: +0.028% → +0.017%: $1.04
Slippage, 4 orders: −$20.84
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$44.76
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Arcus: live order book, 61 min ago; HTX: live order book, 59 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 Arcus live order book, 61 min ago	3.87 bp	8.4 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit
Sell HTX live order book, 59 min ago	2.68 bp	8.7 bp −$9	13.4 bp −$134	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
Hotstuff MSFT-PERP	−0.0168%	1h	503.92	−0.052%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.83	−0.069%	$682K	$494K	10x	as long as short
Nado MSFT-PERP	−0.0055%	1h	504.16	−0.004%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	−0.0017%	8h	504.46	+0.056%	$192K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.35	+0.034%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.30	+0.023%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.42	+0.048%	$15.9M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.08	−0.020%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.51	+0.065%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.16	−0.004%	$3.1M	$1.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	504.45	+0.054%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.05	−0.025%	$1.3M	$387K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.34	+0.032%	$18K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.23	+0.208%	$6K	$3.6M	20x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	504.32	+0.028%	$59K	$224K	20x
Phemex MSFTUSDT	0.0000%	8h	504.58	+0.079%	$2.2M	$830K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	504.13	−0.010%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	504.30	+0.024%	$1.1M	$4.7M	10x	as long as short
Lighter MSFT	+0.0032%	1h	504.26	+0.016%	$1.2M	$511K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.21	+0.006%	$696K	$1.9M	20x	as long as short
Arcus MSFT-USDlong	+0.0040%	1h	504.18	long leg	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	504.39	+0.042%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.84	−0.067%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.67	−0.101%	$303K	$654K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.18	0.000%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	504.11	−0.014%	$514K	$411K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	504.27	+0.017%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.97	−0.042%	$1.6M	$107K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.91	−0.054%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.33	+0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.24	+0.013%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0167%	1h	504.28	+0.020%	$27K	$44K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.94	+0.349%	$116K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0695%	4h	504.34	+0.031%	$103K	$243K	10x	as long as short