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: SunX against Polymarket Perps+0.240%7-day average +0.241% · you sell dearer than you buy

Net, funding: paid 7d − costs−$240as in the Funding arb table

Net, price: spread back to 7d avg − costs−$229as in the Price arb table

costs, in and out, $10k−$2292.292% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.240%, 7d avg +0.241%

Together, before fees−0.088%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.241%, 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	Polymarket Perps MSFT-USD	503.35	0.0050	pay 0.0006% / 1h	26m 06s	$303K	$718K	10x
Short	SunX MSFT-USDT	504.56	0	get 0.0000% / 8h	1h 26m	$6K	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.240%Rate

Funding earned: −$10.5
Price spread: +0.240% → +0.241%: −$0.11
Slippage, 4 orders: −$213.19
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$239.8
Costs to cover: 2.292%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 17 min ago; SunX: live order book, 12 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, 17 min ago	1.19 bp	6.7 bp −$7	7.7 bp −$77	9.7 bp −$969	doesn't fit
Sell SunX live order book, 12 min ago	29.51 bp	105.5 bp −$105	doesn't fit	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	−0.0742%	4h	503.96	+0.120%	$103K	$242K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	+0.062%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.46	+0.021%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.55	+0.040%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.67	+0.064%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.46	+0.022%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.87	+0.103%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.54	+0.038%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.69	+0.068%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.94	+0.118%	$1.3M	$499K	—	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MSFT_USDT_Perp	0.0000%	8h	503.99	+0.127%	$18K	$327K	10x	as long as short
SunX MSFT-USDTshort	0.0000%	8h	504.56	+0.240%	$6K	$3.9M	20x
HTX MSFT-USDT	0.0000%	8h	503.47	+0.024%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.79	+0.087%	$2.2M	$821K	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0008%	1h	503.40	+0.010%	$27K	$43K	10x	as long as short
BloFin MSFT-USDT	+0.0013%	8h	503.89	+0.107%	$191K	$207K	20x	as long as short
Nado MSFT-PERP	+0.0017%	1h	503.50	+0.029%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.42	+0.014%	$701K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.71	+0.072%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.60	+0.050%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.66	+0.062%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.24	−0.022%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	503.35	long leg	$303K	$718K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.52	+0.034%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.25	−0.020%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	503.63	+0.055%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.69	+0.068%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.16	−0.038%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.39	+0.008%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.59	+0.048%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.63	+0.055%	$55	—	10x	as long as short
Lighter MSFT	+0.0136%	1h	503.70	+0.070%	$1.2M	$514K	20x	as long as short
Hotstuff MSFT-PERP	+0.0144%	1h	503.41	+0.012%	$32K	$8K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.171%	$115K	$45K	30x	as long as short