Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: OKX against Polymarket Perps+0.073%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Polymarket Perps Short on OKX

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+0.009%+$1 · spread now +0.073%, 7d avg +0.104%

Together, before fees−0.089%−$9 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 OKX is 0.031% 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 +0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	503.88	0.0050	pay 0.0006% / 1h	51m 32s	$303K	$718K	10x
Short	OKX MSFT-USDT-SWAP	504.25	0	get 0.0000% / 8h	1h 51m	$3.0M	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$10.5
Price spread: +0.073% → +0.104%: −$3.06
Slippage, 4 orders: −$14.63
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$46.19
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 56 min ago; OKX: live order book, 6 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, 56 min ago	1.19 bp	5.2 bp −$5	6.7 bp −$67	9.1 bp −$915	doesn't fit
Sell OKX live order book, 6 min ago	0.10 bp	7.9 bp −$8	15.7 bp −$157	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	−0.0112%	4h	504.28	+0.080%	$103K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.044%	$682K	$500K	10x	as long as short
BloFin MSFT-USDT	−0.0020%	8h	504.37	+0.097%	$190K	$207K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.94	+0.011%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	504.19	+0.062%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.19	+0.061%	$15.9M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	504.00	+0.024%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	504.25	+0.073%	$3.0M	$2.4M	20x
Hotstuff MSFT-PERP	0.0000%	1h	503.86	−0.004%	$33K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	504.04	+0.032%	$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	504.28	+0.079%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	504.28	+0.079%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.35	+0.093%	$19K	$327K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	505.09	+0.240%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	504.20	+0.064%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.51	+0.125%	$2.2M	$818K	10x	as long as short
Nado MSFT-PERP	+0.0014%	1h	504.09	+0.041%	$415K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	504.13	+0.050%	$689K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	504.24	+0.071%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.99	+0.022%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	504.17	+0.058%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.82	−0.012%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	503.88	long leg	$303K	$718K	10x
SoDEX MSFT-USD	+0.0050%	1h	504.13	+0.050%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.87	−0.002%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0059%	8h	504.20	+0.063%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.94	+0.012%	$11K	$15K	20x	as long as short
Lighter MSFT	+0.0096%	1h	504.33	+0.089%	$1.2M	$514K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.76	−0.024%	$1.6M	$58K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	504.00	+0.024%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	504.23	+0.069%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	504.27	+0.077%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0127%	1h	504.19	+0.062%	$27K	$43K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.13	+0.050%	$115K	$45K	30x	as long as short