Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: HTX against Polymarket Perps+0.042%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Polymarket Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now +0.042%, 7d avg +0.065%

Together, before fees−0.066%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and HTX is 0.023% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	502.25	0.0050	pay 0.0006% / 1h	45m 08s	$302K	$713K	10x
Short	HTX MSFT-USDT	502.46	0	get 0.0000% / 8h	2h 45m	$59K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Polymarket Perps. 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 Polymarket PerpsbpFee HTXbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$10.5
Price spread: +0.042% → +0.065%: −$2.3
Slippage, 4 orders: −$11.76
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee HTX: 6 bp × 2 orders: −$12
Net: −$44.57
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; HTX: live order book, 1 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 Polymarket Perps live order book, 3 min ago	1.19 bp	5.2 bp −$5	6.7 bp −$67	9.1 bp −$915	doesn't fit
Sell HTX live order book, 1 min ago	2.69 bp	10.0 bp −$10	14.5 bp −$145	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	502.41	+0.032%	$684K	$454K	10x	as long as short
BloFin MSFT-USDT	−0.0015%	8h	502.62	+0.074%	$190K	$204K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.59	+0.068%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.49	+0.047%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.72	+0.093%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.45	+0.040%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.85	+0.119%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.39	+0.028%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.78	+0.106%	$4.2M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.53	+0.055%	$1.3M	$479K	—	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	502.69	+0.088%	$18K	$311K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.37	+0.223%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.29	+0.008%	$27K	$42K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	502.46	+0.042%	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	502.96	+0.141%	$2.2M	$791K	10x	as long as short
Nado MSFT-PERP	+0.0003%	1h	502.30	+0.010%	$411K	$66K	20x	as long as short
Phoenix MSFT	+0.0016%	1h	502.42	+0.034%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.40	+0.030%	$682K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	502.57	+0.064%	$1.2M	$4.8M	10x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	502.17	−0.016%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.47	+0.044%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.53	+0.056%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	502.28	+0.006%	$22.2M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	502.25	long leg	$302K	$713K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.42	+0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.31	+0.012%	$511K	$463K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	502.41	+0.033%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.40	+0.030%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.19	−0.012%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.49	+0.048%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.48	+0.045%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	502.67	+0.084%	$1.2M	$495K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.197%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0545%	4h	502.75	+0.100%	$102K	$244K	10x	as long as short