Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against HTX−0.040%46s7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.325% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now −0.040%, 7d avg −0.065%

Together, before fees+0.065%+$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 0.025% dearer against HTX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.065%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	503.82	0	get 0.0000% / 8h	1h 36m	$59K	$226K	20x
Short	Polymarket Perps MSFT-USD	503.62	0.0050	get 0.0006% / 1h	36m 26s	$303K	$718K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against HTX. 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 HTXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.040%Rate

Funding earned: $10.5
Price spread: −0.040% → −0.065%: $2.5
Slippage, 4 orders: −$12.46
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$19.45
Costs to cover: 0.325%
Break-even: 20.0 days

Slippage from HTX: live order book, 5 min ago; Polymarket Perps: live order book, 6 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 HTX live order book, 5 min ago	2.68 bp	11.3 bp −$11	23.0 bp −$230	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	1.19 bp	5.7 bp −$6	6.7 bp −$67	8.3 bp −$830	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	−0.0586%	4h	503.91	+0.018%	$103K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.032%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.78	−0.007%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.89	+0.013%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.08	+0.052%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.77	−0.010%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.97	+0.030%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.80	−0.004%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.97	+0.030%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.95	+0.025%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	504.01	+0.037%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.80	+0.195%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.64	−0.036%	$27K	$43K	10x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	503.82	long leg	$59K	$226K	20x
Phemex MSFTUSDT	0.0000%	8h	504.14	+0.064%	$2.2M	$821K	10x	as long as short
Nado MSFT-PERP	+0.0011%	1h	503.73	−0.017%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	+0.0025%	8h	504.01	+0.038%	$190K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.85	+0.006%	$690K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.88	+0.012%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.71	−0.022%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.90	+0.016%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.53	−0.058%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.62	−0.040%	$303K	$718K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.81	−0.002%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.52	−0.060%	$522K	$476K	15x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	503.57	−0.050%	$32K	$8K	20x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	503.90	+0.016%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.80	−0.004%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.41	−0.081%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.47	−0.069%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.91	+0.018%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.91	+0.018%	$55	—	10x	as long as short
Lighter MSFT	+0.0128%	1h	504.05	+0.046%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.077%	$115K	$45K	30x	as long as short