Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Bitget−0.070%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$310.313% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 7 days+0.129%+$13 · spread now −0.070%, 7d avg −0.099%

Together, before fees+0.225%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.030% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.099%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	501.27	0	get 0.0000% / 8h	6h 45m	$4.3M	$2.4M	100x
Short	Polymarket Perps MSFT-USD	500.92	0.0050	get 0.0006% / 1h	45m 54s	$303K	$672K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bitget. 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 BitgetbpFee Polymarket PerpsbpOrdersPrice spread, now −0.070%Rate

Funding earned: $10.5
Price spread: −0.070% → −0.099%: $2.97
Slippage, 4 orders: −$11.29
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$17.83
Costs to cover: 0.313%
Break-even: 18.9 days

Slippage from Bitget: live order book, 2 min ago; Polymarket Perps: live order book, 22 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 Bitget live order book, 2 min ago	0.90 bp	8.2 bp −$8	10.2 bp −$102	36.5 bp −$3,650	doesn't fit
Sell Polymarket Perps live order book, 22 min ago	1.80 bp	5.8 bp −$6	6.0 bp −$60	7.6 bp −$762	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	−0.0949%	4h	501.27	0.000%	$102K	$243K	10x	as long as short
Hotstuff MSFT-PERP	−0.0080%	1h	500.80	−0.094%	$32K	$8K	20x	as long as short
Nado MSFT-PERP	−0.0029%	1h	500.97	−0.060%	$414K	$64K	20x	as long as short
BloFin MSFT-USDT	−0.0028%	8h	501.33	+0.012%	$189K	$204K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	500.76	−0.102%	$684K	$449K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.31	+0.008%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.18	−0.018%	$342K	$898K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.31	+0.008%	$15.6M	$18.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.16	−0.022%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.42	+0.030%	$3.0M	$2.3M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MSFT_USDT	0.0000%	8h	500.96	−0.062%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	501.27	long leg	$4.3M	$2.4M	100x
Variational Omni MSFT	0.0000%	8h	501.24	−0.007%	$1.3M	$677K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.31	+0.008%	$19K	$293K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.07	+0.160%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.17	−0.020%	$58K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.35	+0.016%	$2.2M	$758K	10x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.08	−0.038%	$620K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.18	−0.018%	$1.1M	$5.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.10	−0.034%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.08	−0.038%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.88	−0.078%	$22.1M	$9.2M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	500.92	−0.070%	$303K	$672K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.17	−0.020%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.95	−0.064%	$513K	$502K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	501.11	−0.031%	$220	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	500.97	−0.060%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.82	−0.090%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.80	−0.094%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.19	−0.016%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	501.30	+0.006%	$1.1M	$487K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.16	−0.022%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.56	+0.058%	$115K	$45K	30x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0389%	1h	501.22	−0.010%	$27K	$41K	10x	as long as short