Arcus vs HTX Funding Arbitrage
23 shared markets · net of estimated fees · updated every few minutesArcus and HTX both quote 23 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 NEAR — long Arcus / short HTX at 76.4% net APR — but the median across all shared markets is 2.1%, 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 8 markets go long on Arcus and 15 on HTX. 10 markets clear 5% net APR, 9 clear 10%.
How this pair behaves
Arcus pays funding every 1h on 60 markets; HTX pays every 8h on 61 markets and every 4h on 54 markets. The two clocks differ, so one leg settles while the other is still accruing: a position held for only a few hours can pay one side without ever collecting from the other. Arcus quotes 60 perpetual markets in total and HTX quotes 118; the 23 they share are what this page ranks. Across its own book Arcus runs a median funding rate of 4.5% and HTX 10.9%, so the edge here comes from individual markets rather than from a standing gap between the venues.
Spreads by market
top 23 of 23 by net APR| Market | Long | Short | Net APR | Gross | 7d avg | Thin leg vol |
|---|---|---|---|---|---|---|
| UNI | Arcus | HTX | 117.4% | 121.6% | +12.4% | $213K |
| NEAR | Arcus | HTX | 76.4% | 79.3% | +11.7% | $1.7M |
| LINK | Arcus | HTX | 67.3% | 71.4% | +0.4% | $422K |
| AAVE | Arcus | HTX | 64.6% | 69.6% | +2.4% | $257K |
| USELESS | HTX | Arcus | 44.0% | 53.0% | +41.8% | $115K |
| ETH | HTX | Arcus | 40.9% | 43.3% | +5.8% | $7.7M |
| HYPE | HTX | Arcus | 35.1% | 37.9% | +12.8% | $4.2M |
| BNB | Arcus | HTX | 24.0% | 27.0% | -11.1% | $732K |
| SUI | Arcus | HTX | 22.1% | 25.9% | -1.4% | $177K |
| LIT | Arcus | HTX | 7.3% | 14.8% | +8.0% | $110K |
| SNDK | HTX | Arcus | 2.2% | 4.5% | -23.2% | $8.6M |
| AMD | HTX | Arcus | 2.1% | 4.5% | -6.4% | $210K |
| NVDA | HTX | Arcus | 2.1% | 4.5% | -4.1% | $199K |
| SPCX | HTX | Arcus | 2.0% | 4.5% | -18.6% | $457K |
| BOT | Arcus | HTX | 1.8% | 6.4% | +53.4% | $96K |
| MU | HTX | Arcus | 1.6% | 4.5% | -7.0% | $214K |
| MSFT | HTX | Arcus | 1.5% | 4.5% | +4.6% | $219K |
| META | HTX | Arcus | 1.5% | 4.5% | +7.2% | $122K |
| QQQ | HTX | Arcus | 1.5% | 4.5% | -3.2% | $52K |
| AAPL | HTX | Arcus | 1.5% | 4.5% | +7.3% | $132K |
| SKHY | HTX | Arcus | 1.5% | 4.5% | -10.2% | $123K |
| CRWV | HTX | Arcus | 1.1% | 4.5% | +0.2% | $10K |
| ORCL | HTX | Arcus | 0.9% | 4.5% | +1.4% | $18K |
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 23 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?
23 perpetual markets are quoted on both Arcus and HTX right now. 10 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?
NEAR: long Arcus and short HTX for about 76.4% net APR after estimated fees, counting only markets with at least $1M of 24h volume on the smaller leg. The median across all 23 shared markets is 2.1%, 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 8 of the shared markets and HTX in the other 15. 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.