Funding you earn now, next payment 06:00 UTC+0.0170%/8h= +18.6% APRnext payment +$0.21 per $10,000 · paid last 24h +0.051%
Price spread now: Injective against Polymarket Perps+0.095%7-day average +0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs+$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$320.322% of the position
Funding, last 7 days+0.332%+$33 on $10k
+Price spread, last 4 days (all we have)−0.035%−$3 · spread now +0.095%, 7d avg +0.034%
=Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.061% dearer against Polymarket Perps than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.034%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MSFT-USD | 503.94 | 0.0050 | pay 0.0006% / 1h | 17m 14s | $303K | $720K | 10x |
| Short | Injective MSFT/USDC PERP | 504.42 | 0.0220 | get 0.0028% / 1h | 17m 14s | $115K | $45K | 30x |
Polymarket Perps MSFT-USD
Injective MSFT/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $35.7
- Price spread: +0.095% → +0.034%
- $6.11
- Slippage, 4 orders
- −$24.17
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $9.62
- Costs to cover
- 0.322%
- Break-even
- 5.1 days
Slippage from Polymarket Perps: live order book, 31 min ago; Injective: live order book, 31 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 | 1.19 bp | 5.2 bp −$5 | 6.7 bp −$67 | 9.1 bp −$915 | doesn't fit |
| Sell Injective live order book, 31 min ago | 10.05 bp | 10.1 bp −$10 | 10.1 bp −$101 | doesn't fit | 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 | −0.0386% | 4h | 504.31 | +0.073% | $103K | $243K | 10x | as long as short |
| Hotstuff MSFT-PERP | −0.0072% | 1h | 503.82 | −0.024% | $33K | $8K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.83 | −0.022% | $686K | $491K | 10x | as long as short |
| Nado MSFT-PERP | −0.0032% | 1h | 503.93 | −0.002% | $415K | $68K | 20x | as long as short |
| BloFin MSFT-USDT | −0.0018% | 8h | 504.39 | +0.089% | $190K | $206K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.07 | +0.026% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.17 | +0.045% | $338K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.30 | +0.071% | $15.8M | $19.5M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.11 | +0.034% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 504.40 | +0.091% | $3.0M | $2.4M | 20x | as long as short |
edgeX MSFTUSDC
Hotstuff MSFT-PERP
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
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 | 504.14 | +0.040% | $3.1M | $1.8M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.27 | +0.065% | $3.8M | $3.0M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.32 | +0.075% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 504.23 | +0.058% | $18K | $323K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.05 | +0.220% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 504.20 | +0.052% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.69 | +0.149% | $2.2M | $809K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.99 | +0.010% | $11K | $15K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0028% | 1h | 503.99 | +0.010% | $27K | $43K | 10x | as long as short |
| Lighter RH MSFT | +0.0032% | 1h | 503.99 | +0.010% | $685K | $2.0M | 20x | as long as short |
| QFEX MSFT-USD | +0.0036% | 1h | 504.26 | +0.063% | $1.1M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 504.03 | +0.018% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.31 | +0.073% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.91 | −0.006% | $22.4M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USDlong | +0.0050% | 1h | 503.94 | long leg | $303K | $720K | 10x | |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.15 | +0.042% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.98 | +0.008% | $518K | $472K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0053% | 8h | 504.17 | +0.045% | $222 | — | 5x | as long as short |
| Lighter MSFT | +0.0080% | 1h | 504.22 | +0.056% | $1.2M | $516K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.57 | −0.073% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.95 | +0.002% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.16 | +0.044% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.23 | +0.057% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERPshort | +0.0220% | 1h | 504.42 | +0.095% | $115K | $45K | 30x |
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
Deribit MSFT_USDC-PERPETUAL
Lighter RH MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Lighter MSFT
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP