MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.051%

Price spread now: Polymarket Perps against Injective−0.201%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Injective Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 3 days (all we have)+0.141%+$14 · spread now −0.201%, 7d avg −0.024%

Together, before fees−0.191%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Polymarket Perps is 0.177% cheaper against Injective than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSFT/USDC PERP	502.31	0.0220	pay 0.0028% / 1h	0m 56s	$115K	$45K	30x
Short	Polymarket Perps MSFT-USD	501.30	0.0050	get 0.0006% / 1h	0m 56s	$303K	$678K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Injective. 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 InjectivebpFee Polymarket PerpsbpOrdersPrice spread, now −0.201%Rate

Funding earned: −$35.7
Price spread: −0.201% → −0.024%: −$17.7
Slippage, 4 orders: −$25.23
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$86.65
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Injective: live order book, 13 min ago; Polymarket Perps: live order book, 12 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 Injective live order book, 13 min ago	10.76 bp	10.8 bp −$11	10.8 bp −$108	65073.7 bp −$6.51M	365367.4 bp −$182.68M
Sell Polymarket Perps live order book, 12 min ago	1.40 bp	5.5 bp −$6	6.4 bp −$64	7.4 bp −$737	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
Nado MSFT-PERP	−0.0018%	1h	501.40	−0.182%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.109%	$687K	$449K	10x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	501.32	−0.197%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.83	−0.095%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.67	−0.127%	$337K	$387K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.76	−0.109%	$15.6M	$19.0M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.85	−0.092%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.48	−0.165%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.82	−0.098%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.66	−0.130%	$1.3M	$692K	—	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	501.74	−0.113%	$18K	$294K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.48	+0.034%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.66	−0.129%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.06	−0.050%	$2.2M	$746K	10x	as long as short
BloFin MSFT-USDT	+0.0002%	8h	501.76	−0.109%	$188K	$209K	20x	as long as short
Bybit MSFTUSDT	+0.0032%	8h	501.82	−0.098%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.68	−0.125%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.54	−0.153%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	501.65	−0.131%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.41	−0.179%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	501.30	−0.201%	$303K	$678K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.69	−0.123%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.23	−0.215%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	501.59	−0.143%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.37	−0.187%	$10K	$15K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0089%	1h	501.64	−0.133%	$27K	$102K	10x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.26	−0.209%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.46	−0.169%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.61	−0.139%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.64	−0.133%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0150%	4h	501.63	−0.135%	$102K	$243K	10x	as long as short
Lighter MSFT	+0.0160%	1h	501.93	−0.076%	$1.1M	$586K	20x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	502.31	long leg	$115K	$45K	30x
Arcus MSFT-USD	+0.0286%	1h	501.61	−0.139%	$97K	$109K	10x	as long as short