Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.021%

Price spread now: SunX against Polymarket Perps+0.243%7-day average +0.242% · you sell dearer than you buy

Net, funding: paid 7d − costs−$239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$228as in the Price arb table

costs, in and out, $10k−$2282.278% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 3 days (all we have)+0.018%+$2 · spread now +0.243%, 7d avg +0.242%

Together, before fees−0.093%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.242%, 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	501.70	0.0050	pay 0.0006% / 1h	27m 47s	$306K	$678K	10x
Short	SunX MSFT-USDT	502.92	0	get 0.0000% / 8h	1h 27m	$6K	$4.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.243%Rate

Funding earned: −$10.5
Price spread: +0.243% → +0.242%: $0.1
Slippage, 4 orders: −$211.79
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$238.19
Costs to cover: 2.278%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 55 min ago; SunX: live order book, 10 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, 55 min ago	1.50 bp	6.4 bp −$6	8.8 bp −$88	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	29.23 bp	104.3 bp −$104	doesn't fit	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	−0.0817%	4h	501.97	+0.053%	$102K	$243K	10x	as long as short
BloFin MSFT-USDT	−0.0009%	8h	502.04	+0.068%	$188K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.13	+0.086%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.07	+0.075%	$337K	$407K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.15	+0.090%	$15.7M	$19.3M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.18	+0.096%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.92	+0.044%	$3.1M	$1.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.98	+0.056%	$1.3M	$708K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.02	+0.064%	$19K	$318K	10x	as long as short
SunX MSFT-USDTshort	0.0000%	8h	502.92	+0.243%	$6K	$4.4M	20x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.89	+0.038%	$27K	$104K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.024%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.94	+0.048%	$58K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.45	+0.149%	$2.2M	$763K	10x	as long as short
Bitget MSFTUSDT	+0.0005%	8h	502.08	+0.076%	$3.8M	$2.2M	100x	as long as short
Bybit MSFTUSDT	+0.0019%	8h	502.17	+0.094%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.00	+0.060%	$653K	$2.1M	20x	as long as short
Nado MSFT-PERP	+0.0038%	1h	501.87	+0.034%	$414K	$64K	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	502.04	+0.068%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.77	+0.014%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.75	+0.010%	$22.3M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.70	long leg	$306K	$678K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.06	+0.072%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.76	+0.012%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0061%	8h	502.02	+0.063%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.88	+0.036%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.61	−0.018%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.79	+0.018%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.03	+0.066%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.09	+0.077%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.16	+0.092%	$1.1M	$590K	20x	as long as short
Hotstuff MSFT-PERP	+0.0184%	1h	501.76	+0.012%	$32K	$8K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.04	+0.068%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.17	+0.094%	$115K	$45K	30x	as long as short