MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0251%/8h= −27.5% APRnext payment −$0.31 per $10,000 · paid last 24h −0.043%

Price spread now: Polymarket Perps against Arcus−0.066%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$230.234% of the position

Long on Arcus Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 4 days (all we have)−0.182%−$18 · spread now −0.066%, 7d avg −0.049%

Together, before fees−0.260%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.078% in total (about -8.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	502.13	0.0301	pay 0.0038% / 1h	31m 57s	$109K	$78K	10x
Short	Polymarket Perps MSFT-USD	501.80	0.0050	get 0.0006% / 1h	31m 57s	$304K	$676K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Arcus. 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 ArcusbpFee Polymarket PerpsbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$52.74
Price spread: −0.066% → −0.049%: −$1.68
Slippage, 4 orders: −$10.94
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$77.86
Costs to cover: 0.234%
Break-even: never at this rate

Slippage from Arcus: live order book, 16 min ago; Polymarket Perps: live order book, 16 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 Arcus live order book, 16 min ago	1.89 bp	7.9 bp −$8	8.6 bp −$86	17.6 bp −$1,760	doesn't fit
Sell Polymarket Perps live order book, 16 min ago	1.40 bp	5.4 bp −$5	6.9 bp −$69	8.3 bp −$827	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	−0.0314%	4h	502.04	−0.018%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0056%	1h	501.71	−0.084%	$689K	$431K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.82	−0.062%	$160K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.12	−0.002%	$371K	$368K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.18	+0.010%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.26	+0.026%	$7.4M	$1.7M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.24	+0.022%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.87	−0.052%	$3.1M	$1.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.03	−0.019%	$1.3M	$725K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.93	−0.039%	$18K	$341K	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	502.92	+0.157%	$6K	$4.4M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.90	−0.046%	$27K	$115K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.01	−0.024%	$58K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.40	+0.054%	$2.2M	$742K	10x	as long as short
Nado MSFT-PERP	+0.0002%	1h	501.87	−0.053%	$415K	$62K	20x	as long as short
Bitget MSFTUSDT	+0.0003%	8h	502.10	−0.006%	$3.9M	$2.1M	100x	as long as short
BloFin MSFT-USDT	+0.0010%	8h	502.07	−0.012%	$190K	$208K	20x	as long as short
Hotstuff MSFT-PERP	+0.0016%	1h	501.84	−0.058%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0031%	1h	502.14	+0.002%	$1.1M	$5.6M	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.05	−0.016%	$659K	$2.2M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.04	−0.018%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.82	−0.062%	$22.2M	$9.9M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	501.80	−0.066%	$304K	$676K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.11	−0.004%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	502.14	+0.002%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.56	−0.114%	$515K	$479K	15x	as long as short
Phoenix MSFT	+0.0064%	1h	501.84	−0.058%	$11K	$15K	20x	as long as short
Lighter MSFT	+0.0072%	1h	502.22	+0.018%	$1.1M	$660K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.66	−0.094%	$1.5M	$18K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.63	−0.100%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.14	+0.002%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.08	−0.011%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.99	−0.028%	$115K	$45K	30x	as long as short
Arcus MSFT-USDlong	+0.0301%	1h	502.13	long leg	$109K	$78K	10x