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: Injective against Polymarket Perps+0.135%51s7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as 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 Polymarket Perps Short on Injective

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 for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.101% dearer against Polymarket Perps than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.034%. 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	Polymarket Perps MSFT-USD	503.80	0.0050	pay 0.0006% / 1h	5m 54s	$303K	$717K	10x
Short	Injective MSFT/USDC PERP	504.48	0.0220	get 0.0028% / 1h	5m 54s	$116K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.135%Rate

Funding earned: $35.7
Price spread: +0.135% → +0.034%: $10.08
Slippage, 4 orders: −$24.17
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $13.59
Costs to cover: 0.322%
Break-even: 4.3 days

Slippage from Polymarket Perps: live order book, 42 min ago; Injective: live order book, 43 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, 42 min ago	1.19 bp	5.2 bp −$5	6.7 bp −$67	9.1 bp −$915	doesn't fit
Sell Injective live order book, 43 min ago	10.05 bp	10.1 bp −$10	10.1 bp −$101	doesn't fit	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	+0.113%	$103K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.75	−0.010%	$683K	$494K	10x	as long as short
Nado MSFT-PERP	−0.0017%	1h	503.94	+0.028%	$415K	$68K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	503.81	+0.002%	$33K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.90	+0.019%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.05	+0.049%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.19	+0.077%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.96	+0.032%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	504.29	+0.097%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.02	+0.044%	$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	504.17	+0.073%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.10	+0.059%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.28	+0.095%	$19K	$323K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.94	+0.226%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.09	+0.058%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.33	+0.105%	$2.2M	$815K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.87	+0.014%	$11K	$15K	20x	as long as short
BloFin MSFT-USDT	+0.0021%	8h	504.36	+0.111%	$189K	$207K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.88	+0.016%	$711K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	504.15	+0.069%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.99	+0.038%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.08	+0.056%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.66	−0.028%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	503.80	long leg	$303K	$717K	10x
SoDEX MSFT-USD	+0.0050%	1h	504.03	+0.046%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.83	+0.006%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	504.06	+0.052%	$222	—	5x	as long as short
Lighter MSFT	+0.0088%	1h	504.09	+0.058%	$1.2M	$516K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.58	−0.044%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.79	−0.002%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.04	+0.048%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.10	+0.059%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0107%	1h	503.92	+0.024%	$27K	$43K	10x	as long as short
Injective MSFT/USDC PERPshort	+0.0220%	1h	504.48	+0.135%	$116K	$45K	30x