Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Aster−0.052%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$590.588% of the position

Long on Aster Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$9 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now −0.052%, 7d avg −0.097%

Together, before fees−0.048%+ Points / potential airdropAster: Stage 5 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.045% dearer against Aster than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MSFTUSDT	501.21	0	get 0.0000% / 8h	4h 01m	$161K	$116K	20x
Short	Polymarket Perps MSFT-USD	500.95	0.0050	get 0.0006% / 1h	1m 02s	$302K	$722K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Aster. 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 AsterbpFee Polymarket PerpsbpOrdersPrice spread, now −0.052%Rate

Funding earned: $10.5
Price spread: −0.052% → −0.097%: $4.47
Slippage, 4 orders: −$42.81
Fee Aster: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$43.84
Costs to cover: 0.588%
Break-even: 36.2 days

Slippage from Aster: live order book, 55 min ago; Polymarket Perps: live order book, 57 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 Aster live order book, 55 min ago	9.37 bp	24.4 bp −$24	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 57 min ago	1.30 bp	5.5 bp −$5	5.5 bp −$55	6.8 bp −$684	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	−0.0370%	4h	501.29	+0.015%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.048%	$677K	$451K	10x	as long as short
Nado MSFT-PERP	−0.0027%	1h	501.21	0.000%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0006%	8h	501.36	+0.030%	$189K	$204K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	501.21	long leg	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.19	−0.005%	$337K	$890K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.31	+0.020%	$15.8M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.00	−0.042%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.27	+0.012%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.17	−0.008%	$3.1M	$1.7M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	501.29	+0.016%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	+0.011%	$1.3M	$609K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.29	+0.016%	$19K	$301K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.10	+0.177%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.99	−0.044%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.25	+0.008%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.37	+0.032%	$2.2M	$769K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.06	−0.030%	$677K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.24	+0.006%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.05	−0.032%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.32	+0.022%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.11	−0.020%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.86	−0.070%	$22.0M	$8.7M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	500.95	−0.052%	$302K	$722K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.19	−0.004%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.94	−0.054%	$527K	$443K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.22	+0.003%	$221	—	5x	as long as short
Lighter MSFT	+0.0080%	1h	501.33	+0.024%	$1.1M	$499K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.94	−0.054%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.08	−0.026%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.21	0.000%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.20	−0.002%	$55	—	10x	as long as short
Hotstuff MSFT-PERP	+0.0144%	1h	500.89	−0.064%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.70	+0.297%	$115K	$45K	30x	as long as short