Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Aster against Polymarket Perps+0.056%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$530.531% of the position

Long on Polymarket Perps Short on Aster

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)+0.110%+$11 · spread now +0.056%, 7d avg +0.097%

Together, before fees+0.025%+ Points / potential airdropAster: Stage 5 · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.041% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.097%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	501.19	0.0050	pay 0.0006% / 1h	29m 10s	$303K	$671K	10x
Short	Aster MSFTUSDT	501.47	0	get 0.0000% / 8h	6h 29m	$161K	$116K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Polymarket Perps. 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 Polymarket PerpsbpFee AsterbpOrdersPrice spread, now +0.056%Rate

Funding earned: −$10.5
Price spread: +0.056% → +0.097%: −$4.09
Slippage, 4 orders: −$37.06
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Aster: 4 bp × 2 orders: −$8
Net: −$67.65
Costs to cover: 0.531%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 39 min ago; Aster: live order book, 37 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 Polymarket Perps live order book, 39 min ago	1.80 bp	6.8 bp −$7	7.5 bp −$75	9.5 bp −$950	doesn't fit
Sell Aster live order book, 37 min ago	9.77 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit

MSFT on 33 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
Hotstuff MSFT-PERP	−0.0040%	1h	501.12	−0.014%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.87	−0.064%	$684K	$451K	10x	as long as short
Aster MSFTUSDTshort	0.0000%	8h	501.47	+0.056%	$161K	$116K	20x
Extended MSFT_24_5-USD	0.0000%	1h	501.40	+0.043%	$342K	$894K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.53	+0.068%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.37	+0.036%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.65	+0.092%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.33	+0.028%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.42	+0.046%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.49	+0.059%	$1.3M	$682K	—	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	501.44	+0.049%	$19K	$296K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.26	+0.213%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.41	+0.044%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.61	+0.084%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERP	+0.0002%	1h	501.14	−0.011%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.29	+0.020%	$618K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.49	+0.060%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.31	+0.024%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.31	+0.024%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.05	−0.028%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.19	long leg	$303K	$671K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.37	+0.036%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.15	−0.008%	$521K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	501.45	+0.051%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.21	+0.004%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.12	−0.014%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.92	−0.054%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.37	+0.036%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.37	+0.035%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0129%	1h	501.24	+0.010%	$27K	$41K	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.56	+0.074%	$1.1M	$489K	20x	as long as short
edgeX MSFTUSDC	+0.0200%	4h	501.48	+0.058%	$102K	$244K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.62	+0.086%	$115K	$45K	30x	as long as short