Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: OKX against Polymarket Perps+0.106%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.106%, 7d avg +0.104%

Together, before fees−0.140%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.104%, so right now this pair is about funding alone: −$2 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	501.02	0.0050	pay 0.0006% / 1h	40m 58s	$295K	$673K	10x
Short	OKX MSFT-USDT-SWAP	501.55	0	get 0.0000% / 8h	4h 40m	$3.0M	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.106%Rate

Funding earned: −$10.5
Price spread: +0.106% → +0.104%: $0.2
Slippage, 4 orders: −$11.98
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$40.28
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 17 min ago; OKX: live order book, 1 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, 17 min ago	1.30 bp	6.2 bp −$6	8.1 bp −$81	9.9 bp −$986	doesn't fit
Sell OKX live order book, 1 min ago	0.80 bp	9.8 bp −$10	16.6 bp −$166	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
Coinbase International MSFT-PERP-INTX	−0.0040%	1h	500.97	−0.010%	$678K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0030%	1h	501.13	+0.022%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.15	+0.026%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.31	+0.058%	$341K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.45	+0.087%	$15.7M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.15	+0.026%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	501.55	+0.106%	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	501.30	+0.056%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.40	+0.076%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.35	+0.066%	$1.3M	$613K	—	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	501.33	+0.062%	$19K	$302K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.20	+0.236%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.09	+0.014%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.33	+0.062%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.64	+0.124%	$2.2M	$779K	10x	as long as short
BloFin MSFT-USDT	+0.0001%	8h	501.44	+0.084%	$189K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.22	+0.040%	$681K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.31	+0.058%	$1.1M	$5.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.10	+0.016%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.14	+0.024%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.04	+0.004%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.93	−0.018%	$22.1M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.02	long leg	$295K	$673K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.32	+0.060%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.84	−0.036%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	501.32	+0.060%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0096%	1h	500.94	−0.016%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.93	−0.018%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.93	−0.018%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.32	+0.060%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.34	+0.065%	$55	—	10x	as long as short
Lighter MSFT	+0.0112%	1h	501.49	+0.094%	$1.1M	$489K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.34	+0.064%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0513%	4h	501.36	+0.069%	$102K	$242K	10x	as long as short