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: Polymarket Perps against GRVT−0.058%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.292% of the position

Long on GRVT Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.058%, 7d avg −0.081%

Together, before fees+0.061%+ Points / potential airdropGRVT: Active · farm board+$6 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 0.023% dearer against GRVT than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT MSFT_USDT_Perp	504.23	0	get 0.0000% / 8h	2h 17m	$18K	$323K	10x
Short	Polymarket Perps MSFT-USD	503.94	0.0050	get 0.0006% / 1h	17m 21s	$303K	$720K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against GRVT. 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 GRVTbpFee Polymarket PerpsbpOrdersPrice spread, now −0.058%Rate

Funding earned: $10.5
Price spread: −0.058% → −0.081%: $2.28
Slippage, 4 orders: −$12.21
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.43
Costs to cover: 0.292%
Break-even: 18.0 days

Slippage from GRVT: live order book, 30 min ago; Polymarket Perps: live order book, 31 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 GRVT live order book, 30 min ago	1.19 bp	8.8 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 31 min ago	1.19 bp	6.9 bp −$7	8.0 bp −$80	8.6 bp −$863	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	−0.0386%	4h	504.31	+0.015%	$103K	$243K	10x	as long as short
Hotstuff MSFT-PERP	−0.0072%	1h	503.82	−0.082%	$33K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.83	−0.080%	$686K	$491K	10x	as long as short
Nado MSFT-PERP	−0.0032%	1h	503.93	−0.060%	$415K	$68K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.09	−0.029%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.17	−0.013%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.30	+0.013%	$15.8M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.11	−0.025%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.40	+0.033%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.10	−0.027%	$3.1M	$1.8M	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	504.27	+0.007%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.32	+0.016%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perplong	0.0000%	8h	504.23	long leg	$18K	$323K	10x
SunX MSFT-USDT	0.0000%	8h	505.15	+0.182%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.24	+0.001%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.45	+0.043%	$2.2M	$809K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.99	−0.048%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	504.31	+0.015%	$189K	$206K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0028%	1h	503.99	−0.048%	$27K	$43K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.98	−0.050%	$685K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.26	+0.005%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	504.03	−0.040%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.31	+0.015%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.91	−0.064%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.94	−0.058%	$303K	$720K	10x
SoDEX MSFT-USD	+0.0050%	1h	504.21	−0.005%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.98	−0.050%	$518K	$472K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	504.17	−0.013%	$222	—	5x	as long as short
Lighter MSFT	+0.0080%	1h	504.22	−0.003%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.53	−0.140%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.95	−0.056%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.16	−0.015%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.23	−0.001%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.42	+0.037%	$115K	$45K	30x	as long as short