Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.013%
Price spread now: HTX against tradeXYZ+0.034%7-day average +0.090% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$390.393% of the position
Funding, last 7 days−0.065%−$7 on $10k
+Price spread, last 3 days (all we have)+0.092%+$9 · spread now +0.034%, 7d avg +0.090%
=Together, before fees+0.027%+ Points / potential airdroptradeXYZ: Active · farm board+$3 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 0.056% cheaper against tradeXYZ than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.090%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | tradeXYZ xyz:MSFT | 501.35 | 0.0050 | pay 0.0006% / 1h | 13m 16s | $22.1M | $9.3M | 20x |
| Short | HTX MSFT-USDT | 501.52 | 0 | get 0.0000% / 8h | 6h 13m | $59K | $226K | 20x |
tradeXYZ xyz:MSFT
HTX MSFT-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX against tradeXYZ. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.5
- Price spread: +0.034% → +0.090%
- −$5.61
- Slippage, 4 orders
- −$9.26
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$55.37
- Costs to cover
- 0.393%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 6 min ago; HTX: live order book, 53 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 tradeXYZ live order book, 6 min ago | 0.40 bp | 9.7 bp −$10 | 12.0 bp −$120 | doesn't fit | doesn't fit |
| Sell HTX live order book, 53 min ago | 2.99 bp | 9.0 bp −$9 | 15.4 bp −$154 | doesn't fit | doesn't fit |
MSFT on 33 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 | −0.0156% | 4h | 501.62 | +0.053% | $102K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0016% | 1h | 501.22 | −0.026% | $679K | $457K | 10x | as long as short |
| Nado MSFT-PERP | −0.0010% | 1h | 501.53 | +0.035% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.77 | +0.083% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.53 | +0.037% | $337K | $899K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.65 | +0.059% | $15.6M | $18.8M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.72 | +0.074% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.79 | +0.088% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.49 | +0.028% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.66 | +0.062% | $4.5M | $2.5M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 33 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 501.63 | +0.055% | $1.3M | $682K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.75 | +0.081% | $18K | $296K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.44 | +0.217% | $6K | $4.1M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.47 | +0.024% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDTshort | 0.0000% | 8h | 501.52 | +0.034% | $59K | $226K | 20x | |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.95 | +0.120% | $2.2M | $766K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.49 | +0.028% | $629K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0038% | 1h | 501.54 | +0.038% | $1.1M | $5.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.48 | +0.026% | $97K | $109K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.70 | +0.070% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFTlong | +0.0050% | 1h | 501.35 | long leg | $22.1M | $9.3M | 20x | |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.29 | −0.012% | $303K | $671K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.54 | +0.038% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.23 | −0.024% | $522K | $518K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0055% | 8h | 501.56 | +0.042% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.53 | +0.036% | $10K | $15K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0088% | 1h | 501.39 | +0.008% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.29 | −0.012% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.49 | +0.028% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.55 | +0.040% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.58 | +0.046% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0160% | 1h | 501.77 | +0.084% | $1.1M | $489K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.78 | +0.086% | $115K | $45K | 30x | as long as short |
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
Phemex MSFTUSDT
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP