Funding you earn now, next payment 03:00 UTC+0.0002%/8h= +0.2% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%
Price spread now: Polymarket Perps against Phoenix−0.002%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.047%+$5 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix MSFT | 500.98 | 0.0048 | pay 0.0006% / 1h | 55m 03s | $10K | $15K | 20x |
| Short | Polymarket Perps MSFT-USD | 500.97 | 0.0050 | get 0.0006% / 1h | 55m 03s | $302K | $697K | 10x |
Phoenix MSFT
Polymarket Perps MSFT-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $0.44
- Price spread: −0.002% → 0.000%
- −$0.2
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$14.76
- Costs to cover
- 0.150%
- Break-even
- 243.0 days
Slippage unknown: Phoenix: no order-book sample; Polymarket Perps: live order book, 63 min ago. Net counts fees only.
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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Polymarket Perps live order book, 63 min ago | 1.30 bp | 5.5 bp −$5 | 5.5 bp −$55 | 6.8 bp −$684 | doesn't fit |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit MSFT_USDC-PERPETUAL | −0.0149% | 1h | 500.90 | −0.016% | $27K | $42K | 10x | as long as short |
| Nado MSFT-PERP | −0.0128% | 1h | 501.25 | +0.053% | $414K | $64K | 20x | as long as short |
| tradeXYZ xyz:MSFT | −0.0047% | 1h | 500.91 | −0.014% | $22.1M | $8.7M | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 500.97 | −0.002% | $677K | $450K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0004% | 8h | 501.34 | +0.072% | $189K | $204K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.23 | +0.050% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.22 | +0.048% | $337K | $883K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.36 | +0.077% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.09 | +0.022% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.32 | +0.068% | $3.0M | $2.3M | 20x | as long as short |
Deribit MSFT_USDC-PERPETUAL
Nado MSFT-PERP
tradeXYZ xyz:MSFT
Coinbase International MSFT-PERP-INTX
BloFin MSFT-USDT
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAPShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | 0.0000% | 8h | 501.21 | +0.046% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.25 | +0.054% | $4.5M | $2.5M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.25 | +0.053% | $1.3M | $607K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.30 | +0.063% | $19K | $300K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.10 | +0.224% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.21 | +0.046% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.46 | +0.096% | $2.2M | $770K | 10x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 501.35 | +0.074% | $1.1M | $498K | 20x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 501.11 | +0.026% | $677K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0035% | 1h | 501.24 | +0.052% | $1.1M | $4.9M | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 500.89 | −0.018% | $32K | $8K | 20x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.04 | +0.012% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.37 | +0.078% | — | $1K | 25x | as long as short |
| Phoenix MSFTlong | +0.0048% | 1h | 500.98 | long leg | $10K | $15K | 20x | |
| Polymarket Perps MSFT-USDshort | +0.0050% | 1h | 500.97 | −0.002% | $302K | $697K | 10x | |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.22 | +0.048% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 500.85 | −0.026% | $518K | $451K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0054% | 8h | 501.27 | +0.058% | $221 | — | 5x | as long as short |
| edgeX MSFTUSDC | +0.0062% | 4h | 501.28 | +0.059% | $102K | $242K | 10x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 500.82 | −0.032% | $1.5M | $48K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.00 | +0.004% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.20 | +0.044% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.23 | +0.050% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.70 | +0.343% | $115K | $45K | 30x | as long as short |
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Lighter MSFT
Lighter RH MSFT
QFEX MSFT-USD
Hotstuff MSFT-PERP
Arcus MSFT-USD
Vest MSFT-USD-PERP
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
edgeX MSFTUSDC
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP