Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against OKX−0.111%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 7 days+0.037%+$4 · spread now −0.111%, 7d avg −0.104%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.104%, 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	OKX MSFT-USDT-SWAP	503.36	0	get 0.0000% / 8h	3h 15m	$3.0M	$2.3M	20x
Short	Polymarket Perps MSFT-USD	502.80	0.0050	get 0.0006% / 1h	15m 23s	$304K	$705K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against OKX. 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 OKXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.111%Rate

Funding earned: $10.5
Price spread: −0.111% → −0.104%: −$0.71
Slippage, 4 orders: −$11.08
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$19.3
Costs to cover: 0.291%
Break-even: 19.9 days

Slippage from OKX: live order book, 2 min ago; Polymarket Perps: live order book, 37 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 OKX live order book, 2 min ago	0.10 bp	8.0 bp −$8	14.4 bp −$144	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 37 min ago	2.00 bp	7.7 bp −$8	8.1 bp −$81	9.6 bp −$957	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	−0.0667%	4h	503.09	−0.054%	$102K	$244K	10x	as long as short
Nado MSFT-PERP	−0.0107%	1h	503.12	−0.048%	$415K	$64K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	−0.0088%	1h	502.86	−0.099%	$27K	$42K	10x	as long as short
Hotstuff MSFT-PERP	−0.0040%	1h	502.83	−0.105%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	502.66	−0.139%	$680K	$451K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0007%	1h	502.83	−0.105%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.11	−0.050%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.07	−0.058%	$339K	$884K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.20	−0.032%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.00	−0.072%	$7.2M	$2.2M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX MSFT-USDT-SWAPlong	0.0000%	8h	503.36	long leg	$3.0M	$2.3M	20x
Gate MSFT_USDT	0.0000%	8h	503.01	−0.070%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.08	−0.056%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.14	−0.044%	$1.3M	$606K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.20	−0.032%	$19K	$301K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.98	+0.123%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.11	−0.050%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.29	−0.014%	$2.2M	$786K	10x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	503.21	−0.030%	$189K	$205K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.32	−0.008%	$1.1M	$504K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.05	−0.062%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.07	−0.058%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.85	−0.101%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.20	−0.032%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.88	−0.095%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	502.80	−0.111%	$304K	$705K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.05	−0.062%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	503.13	−0.046%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.74	−0.123%	$512K	$462K	15x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.81	−0.109%	$1.6M	$55K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.84	−0.103%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.06	−0.060%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.15	−0.042%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.08	−0.056%	$115K	$45K	30x	as long as short