MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.051%

Price spread now: Polymarket Perps against Injective−0.135%51s7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

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

Long on Injective Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.135%, 7d avg −0.034%

Together, before fees−0.257%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Polymarket Perps is 0.101% cheaper against Injective than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.034%). Swap the legs. The two prices were read 51 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	Injective MSFT/USDC PERP	504.48	0.0220	pay 0.0028% / 1h	6m 19s	$116K	$45K	30x
Short	Polymarket Perps MSFT-USD	503.80	0.0050	get 0.0006% / 1h	6m 19s	$303K	$717K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Injective. 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 InjectivebpFee Polymarket PerpsbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$35.7
Price spread: −0.135% → −0.034%: −$10.06
Slippage, 4 orders: −$24.17
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$77.95
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Injective: live order book, 42 min ago; Polymarket Perps: live order book, 42 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 Injective live order book, 42 min ago	10.05 bp	10.1 bp −$10	10.1 bp −$101	65081.3 bp −$6.51M	365405.4 bp −$182.70M
Sell Polymarket Perps live order book, 42 min ago	1.19 bp	6.9 bp −$7	8.0 bp −$80	8.6 bp −$863	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	−0.0903%	4h	504.37	−0.022%	$103K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.76	−0.143%	$684K	$493K	10x	as long as short
Nado MSFT-PERP	−0.0017%	1h	503.94	−0.107%	$415K	$68K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	503.81	−0.133%	$33K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.92	−0.112%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.04	−0.087%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.18	−0.059%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.97	−0.101%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.29	−0.038%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.01	−0.093%	$3.1M	$1.8M	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	504.20	−0.056%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.20	−0.056%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.28	−0.040%	$19K	$323K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.94	+0.091%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.16	−0.063%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.46	−0.004%	$2.2M	$814K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.87	−0.121%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0021%	8h	504.36	−0.024%	$189K	$207K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.05	−0.085%	$712K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.15	−0.065%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.99	−0.097%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.08	−0.079%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.70	−0.155%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.80	−0.135%	$303K	$717K	10x
SoDEX MSFT-USD	+0.0050%	1h	504.03	−0.089%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.83	−0.129%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	504.06	−0.083%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.24	−0.048%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.60	−0.174%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.79	−0.137%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.04	−0.087%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.10	−0.076%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0107%	1h	503.92	−0.111%	$27K	$43K	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	504.48	long leg	$116K	$45K	30x