Funding arb · Price arb /

MSFT

RWAall MSFT markets

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: Bitget against HTX−0.010%46s7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.374% of the position

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.010%, 7d avg +0.019%

Together, before fees−0.013%−$1 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: Bitget is 0.029% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	501.44	0	get 0.0000% / 8h	4h 24m	$59K	$225K	20x
Short	Bitget MSFTUSDT	501.39	0	get 0.0000% / 8h	4h 24m	$4.5M	$2.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → +0.019%: −$2.94
Slippage, 4 orders: −$13.44
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$40.38
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from HTX: live order book, 32 min ago; Bitget: live order book, 4 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, 32 min ago	2.79 bp	9.4 bp −$9	18.6 bp −$186	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.90 bp	10.0 bp −$10	13.9 bp −$139	31.6 bp −$3,156	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	−0.094%	$678K	$455K	10x	as long as short
Nado MSFT-PERP	−0.0006%	1h	501.13	−0.061%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.16	−0.056%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.38	−0.012%	$341K	$888K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.51	+0.014%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.15	−0.058%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.56	+0.024%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.26	−0.036%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	501.39	−0.010%	$4.5M	$2.5M	100x
Variational Omni MSFT	0.0000%	8h	501.34	−0.019%	$1.3M	$616K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.41	−0.006%	$18K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.30	+0.172%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	501.44	long leg	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	501.70	+0.052%	$2.2M	$778K	10x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	501.52	+0.016%	$189K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.24	−0.040%	$675K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.34	−0.020%	$1.2M	$5.5M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.17	−0.054%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.28	−0.032%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.15	−0.058%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.98	−0.092%	$22.1M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.11	−0.066%	$302K	$722K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.31	−0.026%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.98	−0.092%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	501.38	−0.013%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	501.00	−0.088%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.02	−0.084%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.86	−0.116%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.37	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.43	−0.002%	$55	—	10x	as long as short
Lighter MSFT	+0.0136%	1h	501.48	+0.008%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.63	+0.038%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0229%	1h	501.29	−0.030%	$27K	$41K	10x	as long as short
edgeX MSFTUSDC	+0.0930%	4h	501.35	−0.018%	$102K	$242K	10x	as long as short