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: Gate against HTX−0.022%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on HTX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now −0.022%, 7d avg −0.023%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	504.22	0	get 0.0000% / 8h	1h 54m	$59K	$226K	20x
Short	Gate MSFT_USDT	504.11	0	get 0.0000% / 8h	1h 54m	$3.1M	$1.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → −0.023%: $0.16
Slippage, 4 orders: −$15.96
Fee HTX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.8
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from HTX: live order book, 52 min ago; Gate: live order book, 3 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, 52 min ago	2.69 bp	9.7 bp −$10	18.6 bp −$186	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	3.08 bp	11.9 bp −$12	61.4 bp −$614	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
edgeX MSFTUSDC	−0.0521%	4h	503.90	−0.063%	$103K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.111%	$682K	$500K	10x	as long as short
BloFin MSFT-USDT	−0.0009%	8h	504.39	+0.034%	$190K	$207K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.07	−0.030%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.26	+0.008%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.39	+0.034%	$15.9M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.08	−0.028%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.40	+0.036%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTshort	0.0000%	8h	504.11	−0.022%	$3.1M	$1.8M	100x
Bitget MSFTUSDT	0.0000%	8h	504.04	−0.036%	$3.8M	$3.0M	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	504.28	+0.011%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.96	−0.052%	$19K	$326K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.14	+0.182%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	504.22	long leg	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	504.32	+0.020%	$2.2M	$817K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.52	−0.139%	$11K	$15K	20x	as long as short
Nado MSFT-PERP	+0.0020%	1h	504.01	−0.041%	$415K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.16	−0.012%	$716K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	504.24	+0.004%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.86	−0.071%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.20	−0.004%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	503.53	−0.137%	$32K	$8K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.91	−0.061%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.98	−0.048%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	504.22	0.000%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.52	−0.139%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	504.24	+0.003%	$222	—	5x	as long as short
Lighter MSFT	+0.0080%	1h	504.35	+0.026%	$1.2M	$514K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.77	−0.089%	$1.6M	$58K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.48	−0.147%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.15	−0.014%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.25	+0.006%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0127%	1h	504.16	−0.012%	$27K	$43K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.13	−0.018%	$115K	$45K	30x	as long as short