Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Binance against Polymarket Perps+0.073%46s7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as 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−$250.255% of the position

Long on Polymarket Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days+0.056%+$6 · spread now +0.073%, 7d avg +0.107%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.034% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.107%). Swap the legs. The two prices were read 46 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	Polymarket Perps MSFT-USD	502.75	0.0050	pay 0.0006% / 1h	47m 50s	$318K	$676K	10x
Short	Binance MSFTUSDT	503.12	0	get 0.0000% / 8h	5h 47m	$16.3M	$20.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Polymarket Perps. 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 Polymarket PerpsbpFee BinancebpOrdersPrice spread, now +0.073%Rate

Funding earned: −$10.5
Price spread: +0.073% → +0.107%: −$3.41
Slippage, 4 orders: −$7.48
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$39.39
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 63 min ago; Binance: live order book, 1 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 Polymarket Perps live order book, 63 min ago	2.28 bp	6.3 bp −$6	8.8 bp −$88	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.10 bp	7.0 bp −$7	10.5 bp −$105	39.4 bp −$3,937	doesn't fit

MSFT on 34 exchanges

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
Hotstuff MSFT-PERP	−0.1600%	1h	503.33	+0.115%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0053%	1h	502.99	+0.048%	$411K	$72K	20x	as long as short
Ondo Perps MSFT-USD.P	−0.0044%	1h	502.68	−0.014%	$532K	$382K	15x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.81	+0.210%	$166K	$118K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.96	+0.042%	$326K	$1.9M	17x	as long as short
Binance MSFTUSDTshort	0.0000%	8h	503.12	+0.073%	$16.3M	$20.9M	20x
Bybit MSFTUSDT	0.0000%	8h	502.93	+0.036%	$7.3M	$2.3M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.89	+0.028%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.10	+0.070%	$3.9M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.26	+0.101%	$1.3M	$396K	—	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	503.87	+0.223%	$6K	$3.5M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.80	+0.010%	$30K	$47K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.80	+0.010%	$702K	$522K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.98	+0.046%	$48K	$246K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.71	+0.191%	$2.3M	$910K	10x	as long as short
BloFin MSFT-USDT	0.0000%	8h	503.26	+0.101%	$202K	$214K	20x	as long as short
GRVT MSFT_USDT_Perp	+0.0007%	8h	503.55	+0.159%	$19K	$318K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0014%	1h	502.64	−0.022%	$22.4M	$9.2M	20x	as long as short
Lighter MSFT	+0.0032%	1h	502.96	+0.042%	$1.2M	$480K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.96	+0.042%	$690K	$1.8M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.01	+0.052%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	502.75	long leg	$318K	$676K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.88	+0.026%	$60K	$3K	10x	as long as short
OKX MSFT-USDT-SWAP	+0.0055%	8h	503.18	+0.086%	$3.2M	$2.7M	20x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	502.96	+0.043%	$221	—	5x	as long as short
QFEX MSFT-USD	+0.0058%	1h	503.03	+0.056%	$1.1M	$4.7M	10x	as long as short
Phoenix MSFT	+0.0079%	1h	503.21	+0.091%	$11K	$5K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.86	+0.022%	$1.6M	$224K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.30	+0.109%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.09	+0.068%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.07	+0.064%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	502.81	+0.012%	$93K	$83K	10x	as long as short
edgeX MSFTUSDC	+0.0195%	4h	503.42	+0.133%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.61	+0.171%	$115K	$45K	30x	as long as short