Arcus vs HTX Funding Arbitrage
14 shared markets · net of estimated fees · updated every few minutesArcus and HTX both quote 14 of the same perpetual markets, so a delta-neutral position can be split across the two and collect the difference in their funding. The widest spread on a market with real depth is BTC — long HTX / short Arcus at 23.3% net APR — but the median across all shared markets is 5.9%, which is the number worth planning around.
The long leg is whichever venue prices funding lower for that market. It is a property of the MARKET, not of the exchange, and it flips as rates move: here 3 markets go long on Arcus and 11 on HTX. 7 markets clear 5% net APR, 6 clear 10%.
Spreads by market
top 14 of 14 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| AAPL | Arcus | HTX | 46.2% | 49.4% | -3.1% | $50K |
| MSFT | Arcus | HTX | 36.6% | 39.6% | -6.3% | $14K |
| NBIS | HTX | Arcus | 27.2% | 31.4% | +13.7% | $20K |
| BTC | HTX | Arcus | 23.3% | 25.7% | +9.5% | $53.8M |
| AMD | Arcus | HTX | 21.7% | 24.5% | -6.0% | $29K |
| ZEC | HTX | Arcus | 16.4% | 20.1% | +2.1% | $5.5M |
| SNDK | HTX | Arcus | 7.2% | 9.7% | +20.1% | $2.0M |
| ETH | HTX | Arcus | 4.7% | 7.0% | +7.3% | $18.3M |
| NVDA | HTX | Arcus | 1.6% | 4.2% | +23.9% | $50K |
| QQQ | HTX | Arcus | 1.3% | 4.2% | +8.3% | $69K |
| SPY | HTX | Arcus | 1.2% | 4.2% | +7.9% | $61K |
| BABA | HTX | Arcus | 1.0% | 4.2% | +15.0% | $12K |
| MU | HTX | Arcus | 0.8% | 4.2% | +28.0% | $295K |
| META | HTX | Arcus | 0.7% | 4.2% | +6.5% | $35K |
Net APR subtracts entry and exit fees, both legs' bid/ask spread and estimated slippage from the gross funding spread. The 7-day average is historical gross funding for the same pair: a current rate close to it suggests the spread has persisted, one far above it is usually a spike that will decay.
Coverage note: Arcus and HTX share 14 markets, 4 of them with real depth — below the 10 markets / 5 liquid this page treats as full coverage, so this is a thin sample rather than a picture of the pair.
Arcus vs HTX — FAQ
How many markets can you arbitrage between Arcus and HTX?
14 perpetual markets are quoted on both Arcus and HTX right now. 7 of them show a net spread of at least 5% APR after estimated fees, and 4 have at least $1M of 24h volume on the smaller leg.
What is the best Arcus / HTX funding spread right now?
BTC: long HTX and short Arcus for about 23.3% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 14 shared markets is 5.9%, so the top of the list is not typical.
Which side pays on the Arcus / HTX pair?
It varies by market: Arcus is the long (funding-receiving) leg in 3 of the shared markets and HTX in the other 11. The direction is set per market by which venue currently prices funding lower.
Trading the Arcus / HTX spread
The trade is one position split across two venues: long the exchange paying the more negative funding, short the one paying the more positive, in the same size. What limits it is not the headline APR but the smaller leg's liquidity, the fees on both sides, and how long the spread survives — funding decays and flips, often within hours. Venue detail: Arcus funding rates · HTX funding rates; the full calculation is in the methodology.