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 +0.015%

Price spread now: Polymarket Perps against Aster−0.184%46s7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as 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−$600.597% of the position

Long on Aster Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$9 on $10k

Price spread, last 4 days (all we have)−0.002%$0 · spread now −0.184%, 7d avg −0.093%

Together, before fees+0.083%+ Points / potential airdropAster: Stage 5 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.091% cheaper against Aster than usual: you would sell low and buy high (spread −0.184% now, against its 7-day average of −0.093%). If the spread goes back, that is −$9 on $10k: about 6.1 days of funding at the current rate (+$2 a day). 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	Aster MSFTUSDT	504.18	0	get 0.0000% / 8h	5h 53m	$166K	$118K	20x
Short	Polymarket Perps MSFT-USD	503.25	0.0050	get 0.0006% / 1h	53m 40s	$318K	$677K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Aster. 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 AsterbpFee Polymarket PerpsbpOrdersPrice spread, now −0.184%Rate

Funding earned: $10.5
Price spread: −0.184% → −0.093%: −$9.11
Slippage, 4 orders: −$43.67
Fee Aster: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$58.28
Costs to cover: 0.597%
Break-even: 45.9 days

Slippage from Aster: live order book, 55 min ago; Polymarket Perps: live order book, 57 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 Aster live order book, 55 min ago	14.76 bp	27.0 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 57 min ago	2.28 bp	6.3 bp −$6	10.2 bp −$102	doesn't fit	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	−0.168%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0016%	1h	503.40	−0.155%	$411K	$72K	20x	as long as short
Aster MSFTUSDTlong	0.0000%	8h	504.18	long leg	$166K	$118K	20x
Extended MSFT_24_5-USD	0.0000%	1h	503.46	−0.141%	$326K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.61	−0.113%	$16.4M	$20.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.41	−0.152%	$7.3M	$2.3M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.43	−0.148%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.60	−0.114%	$3.9M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.47	−0.141%	$1.3M	$396K	—	as long as short
SunX MSFT-USDT	0.0000%	8h	504.35	+0.034%	$6K	$3.5M	20x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.32	−0.170%	$30K	$47K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	502.80	−0.273%	$702K	$522K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.44	−0.146%	$48K	$246K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.84	−0.067%	$2.3M	$907K	10x	as long as short
BloFin MSFT-USDT	+0.0012%	8h	503.56	−0.122%	$202K	$212K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0031%	1h	503.00	−0.233%	$22.5M	$9.2M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.46	−0.142%	$1.2M	$480K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.42	−0.150%	$692K	$1.8M	20x	as long as short
GRVT MSFT_USDT_Perp	+0.0044%	8h	503.34	−0.167%	$19K	$317K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.44	−0.146%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.47	−0.338%	$11K	$5K	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.25	−0.184%	$318K	$677K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.43	−0.148%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.04	−0.225%	$532K	$382K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	503.33	−0.167%	$221	—	5x	as long as short
QFEX MSFT-USD	+0.0058%	1h	503.42	−0.150%	$1.2M	$4.7M	10x	as long as short
OKX MSFT-USDT-SWAP	+0.0064%	8h	503.59	−0.116%	$3.2M	$2.7M	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.213%	$1.6M	$218K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.07	−0.219%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.47	−0.140%	$8K	—	10x	as long as short
edgeX MSFTUSDC	+0.0101%	4h	503.12	−0.210%	$102K	$242K	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.47	−0.140%	$55	—	10x	as long as short
Arcus MSFT-USD	+0.0190%	1h	503.31	−0.172%	$93K	$83K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.07	−0.021%	$115K	$45K	30x	as long as short