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 +0.011%

Price spread now: Binance against HTX+0.053%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on HTX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.053%, 7d avg +0.024%

Together, before fees−0.015%−$2 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: Binance is 0.029% dearer against HTX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	503.98	0	get 0.0000% / 8h	2h 28m	$59K	$226K	20x
Short	Binance MSFTUSDT	504.25	0	get 0.0000% / 8h	2h 28m	$15.8M	$19.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.053%Rate

Funding earned: $0
Price spread: +0.053% → +0.024%: $2.89
Slippage, 4 orders: −$11.25
Fee HTX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.36
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from HTX: live order book, 18 min ago; Binance: live order book, 12 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, 18 min ago	2.69 bp	9.7 bp −$10	18.6 bp −$186	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.10 bp	7.0 bp −$7	13.7 bp −$137	58.3 bp −$5,833	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
edgeX MSFTUSDC	−0.0759%	4h	503.75	−0.045%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.26	−0.143%	$682K	$465K	10x	as long as short
Nado MSFT-PERP	−0.0023%	1h	503.84	−0.028%	$415K	$68K	20x	as long as short
BloFin MSFT-USDT	−0.0007%	8h	503.77	−0.042%	$189K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.01	+0.005%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.80	−0.036%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	504.25	+0.053%	$15.8M	$19.3M	20x
Bybit MSFTUSDT	0.0000%	8h	504.09	+0.022%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.30	+0.063%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.51	−0.093%	$3.1M	$1.7M	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	503.98	0.000%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.95	−0.007%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.94	−0.008%	$19K	$317K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.87	+0.177%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.63	−0.069%	$27K	$43K	10x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	503.98	long leg	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	504.14	+0.032%	$2.2M	$796K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.58	−0.079%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.74	−0.048%	$689K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.83	−0.030%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.60	−0.075%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.17	+0.038%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.93	−0.010%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.97	−0.002%	$303K	$720K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.66	−0.063%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.47	−0.101%	$517K	$471K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.84	−0.028%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.11	−0.173%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.54	−0.087%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.69	−0.058%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.77	−0.043%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	504.02	+0.008%	$1.2M	$506K	20x	as long as short
Hotstuff MSFT-PERP	+0.0176%	1h	503.39	−0.117%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.012%	$115K	$45K	30x	as long as short