Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against SunX−0.212%7-day average −0.241% · you buy dearer than you sell

Net, funding: paid 7d − costs−$228as in the Funding arb table

Net, price: spread back to 7d avg − costs−$236as in the Price arb table

costs, in and out, $10k−$2392.387% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.096%−$10 · spread now −0.212%, 7d avg −0.241%

Together, before fees+0.015%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.029% dearer against SunX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.241%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MSFT-USDT	504.85	0	get 0.0000% / 8h	7h 14m	$6K	$3.5M	20x
Short	Polymarket Perps MSFT-USD	503.78	0.0050	get 0.0006% / 1h	14m 59s	$303K	$650K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.212%Rate

Funding earned: $10.5
Price spread: −0.212% → −0.241%: $2.88
Slippage, 4 orders: −$222.69
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$225.3
Costs to cover: 2.387%
Break-even: 157.2 days

Slippage from SunX: live order book, 3 min ago; Polymarket Perps: live order book, 3 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 SunX live order book, 3 min ago	29.21 bp	110.7 bp −$111	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	4.57 bp	11.4 bp −$11	12.1 bp −$121	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	−0.0868%	4h	504.05	−0.159%	$103K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	503.64	−0.240%	$685K	$451K	10x	as long as short
Hotstuff MSFT-PERP	−0.0024%	1h	503.57	−0.254%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0011%	1h	503.78	−0.212%	$415K	$67K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	504.22	−0.125%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.97	−0.175%	$335K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.10	−0.149%	$16.3M	$19.4M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.84	−0.200%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.14	−0.141%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.82	−0.204%	$3.1M	$1.9M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	504.03	−0.162%	$3.9M	$2.8M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.13	−0.142%	$1.3M	$392K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.09	−0.150%	$19K	$316K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	504.85	long leg	$6K	$3.5M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.81	−0.206%	$27K	$45K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.90	−0.188%	$58K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.49	−0.071%	$2.2M	$850K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.73	−0.222%	$11K	$15K	20x	as long as short
QFEX MSFT-USD	+0.0023%	1h	503.97	−0.174%	$1.2M	$4.6M	10x	as long as short
BloFin MSFT-USDT	+0.0027%	8h	504.09	−0.151%	$192K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.92	−0.184%	$1.2M	$523K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.90	−0.188%	$704K	$1.9M	20x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.83	−0.202%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.06	−0.156%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.50	−0.267%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.78	−0.212%	$303K	$650K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.84	−0.200%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.65	−0.238%	$536K	$392K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.91	−0.187%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.63	−0.242%	$1.6M	$126K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.72	−0.224%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.03	−0.162%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.94	−0.181%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	505.30	+0.089%	$116K	$45K	30x	as long as short