Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Paradex against Polymarket Perps+0.062%48s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.062% dearer against Polymarket Perps than usual: you sell high and buy low, +$6 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	501.20	0.0050	pay 0.0006% / 1h	59m 35s	$303K	$671K	10x
Short	Paradex MSFT-USD-PERP	501.51	0.0053	get 0.0053% / 8h	5h 59m	$221	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.062%Rate

Funding earned: $0.72
Price spread: +0.062% → 0.000%: $6.16
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$5.13
Costs to cover: 0.120%
Break-even: 57.1 days

Slippage unknown: Polymarket Perps: live order book, 3 min ago; Paradex: no order-book sample. 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 Polymarket Perps live order book, 3 min ago	1.30 bp	6.7 bp −$7	7.7 bp −$77	9.6 bp −$959	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 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
Deribit MSFT_USDC-PERPETUAL	−0.0129%	1h	501.25	+0.010%	$27K	$41K	10x	as long as short
Nado MSFT-PERP	−0.0039%	1h	501.51	+0.061%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.24	+0.008%	$679K	$457K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.73	+0.105%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.44	+0.048%	$337K	$889K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.54	+0.068%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.58	+0.076%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.67	+0.094%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.35	+0.030%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.61	+0.082%	$4.5M	$2.5M	100x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.60	+0.079%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.58	+0.075%	$19K	$295K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.31	+0.221%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.41	+0.042%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.68	+0.096%	$2.2M	$763K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0003%	1h	501.17	−0.006%	$22.1M	$9.3M	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.40	+0.040%	$651K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.41	+0.042%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.42	+0.044%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.55	+0.070%	—	$1K	25x	as long as short
Hotstuff MSFT-PERP	+0.0048%	1h	501.22	+0.004%	$32K	$8K	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.20	long leg	$303K	$671K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.41	+0.042%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.21	+0.002%	$522K	$483K	15x	as long as short
Paradex MSFT-USD-PERPshort	+0.0053%	8h	501.51	+0.062%	$221	—	5x
Phoenix MSFT	+0.0080%	1h	501.41	+0.042%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.33	+0.026%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.46	+0.052%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.48	+0.056%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.42	+0.045%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	501.65	+0.090%	$1.1M	$454K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.87	+0.134%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0361%	4h	501.62	+0.085%	$102K	$243K	10x	as long as short