Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Polymarket Perps against tradeXYZ−0.022%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on tradeXYZ Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 7 days+0.100%+$10 · spread now −0.022%, 7d avg +0.021%

Together, before fees+0.150%+ Points / potential airdroptradeXYZ: Active · farm board+$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.043% cheaper against tradeXYZ than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:MSFT	501.87	0.0050	pay 0.0006% / 1h	40m 15s	$22.3M	$9.6M	20x
Short	Polymarket Perps MSFT-USD	501.76	0.0050	get 0.0006% / 1h	40m 15s	$303K	$678K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against tradeXYZ. 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 tradeXYZbpFee Polymarket PerpsbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → +0.021%: −$4.31
Slippage, 4 orders: −$6.25
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$36.56
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; Polymarket Perps: live order book, 38 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 tradeXYZ live order book, 9 min ago	0.50 bp	10.1 bp −$10	11.2 bp −$112	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 38 min ago	1.89 bp	5.9 bp −$6	6.1 bp −$61	6.7 bp −$671	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
Nado MSFT-PERP	−0.0018%	1h	501.95	+0.015%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	−0.022%	$687K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.22	+0.069%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.17	+0.060%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.26	+0.078%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.31	+0.088%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.01	+0.028%	$3.2M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.26	+0.078%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.20	+0.066%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.16	+0.057%	$18K	$300K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	503.02	+0.229%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.15	+0.056%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.34	+0.094%	$2.2M	$749K	10x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	502.26	+0.078%	$188K	$209K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.85	−0.004%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0029%	8h	502.31	+0.088%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.14	+0.054%	$638K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.10	+0.046%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	502.06	+0.038%	$27K	$101K	10x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.14	+0.054%	$1.1M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFTlong	+0.0050%	1h	501.87	long leg	$22.3M	$9.6M	20x
Polymarket Perps MSFT-USDshort	+0.0050%	1h	501.76	−0.022%	$303K	$678K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.17	+0.060%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.91	+0.008%	$529K	$494K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0054%	8h	502.17	+0.060%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.94	+0.014%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.72	−0.030%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.91	+0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.18	+0.062%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.18	+0.062%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.35	+0.096%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.57	+0.139%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.15	+0.056%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0865%	4h	502.25	+0.077%	$102K	$244K	10x	as long as short