Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h −0.003%

Price spread now: BloFin against Polymarket Perps+0.106%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 3 days (all we have)+0.011%+$1 · spread now +0.106%, 7d avg +0.093%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.093%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	501.76	0.0050	pay 0.0006% / 1h	46m 59s	$303K	$678K	10x
Short	BloFin MSFT-USDT	502.29	0.0001	get 0.0001% / 8h	46m 59s	$188K	$209K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$10.3
Price spread: +0.106% → +0.093%: $1.21
Slippage, 4 orders: −$6.19
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$35.28
Costs to cover: 0.262%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 31 min ago; BloFin: live order book, 23 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, 31 min ago	1.89 bp	6.0 bp −$6	8.1 bp −$81	10.0 bp −$1,004	doesn't fit
Sell BloFin live order book, 23 min ago	0.50 bp	7.0 bp −$7	9.2 bp −$92	25.2 bp −$2,516	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	−0.0026%	1h	501.96	+0.039%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	0.000%	$687K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.18	+0.084%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.15	+0.079%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.25	+0.098%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.31	+0.110%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.00	+0.048%	$3.2M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.28	+0.104%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.26	+0.099%	$1.3M	$702K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.15	+0.079%	$18K	$308K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.98	+0.243%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.01	+0.050%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.33	+0.114%	$2.2M	$753K	10x	as long as short
BloFin MSFT-USDTshort	+0.0001%	8h	502.29	+0.106%	$188K	$209K	20x
Bybit MSFTUSDT	+0.0026%	8h	502.38	+0.124%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.14	+0.076%	$640K	$2.1M	20x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	501.85	+0.018%	$32K	$8K	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.11	+0.070%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	502.07	+0.062%	$27K	$101K	10x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.09	+0.066%	$1.1M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.87	+0.022%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.76	long leg	$303K	$678K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.18	+0.084%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.76	0.000%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	502.18	+0.085%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	502.03	+0.054%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.70	−0.012%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.91	+0.030%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.12	+0.072%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.15	+0.078%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.33	+0.114%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.36	+0.120%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.12	+0.072%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0785%	4h	502.22	+0.091%	$102K	$243K	10x	as long as short