Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.001%

Price spread now: Polymarket Perps against BloFin−0.077%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.077%, 7d avg −0.093%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.093%, 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	BloFin MSFT-USDT	503.69	−0.0010	get 0.0010% / 8h	1h 14m	$190K	$207K	20x
Short	Polymarket Perps MSFT-USD	503.30	0.0050	get 0.0006% / 1h	14m 42s	$303K	$718K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.077%Rate

Funding earned: $12.6
Price spread: −0.077% → −0.093%: $1.55
Slippage, 4 orders: −$6.88
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$12.74
Costs to cover: 0.269%
Break-even: 14.1 days

Slippage from BloFin: live order book, 61 min ago; Polymarket Perps: live order book, 28 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 BloFin live order book, 61 min ago	0.10 bp	6.2 bp −$6	10.1 bp −$101	24.3 bp −$2,432	doesn't fit
Sell Polymarket Perps live order book, 28 min ago	1.19 bp	5.7 bp −$6	6.7 bp −$67	8.3 bp −$830	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
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	−0.006%	$682K	$500K	10x	as long as short
BloFin MSFT-USDTlong	−0.0010%	8h	503.69	long leg	$190K	$207K	20x
Aster MSFTUSDT	0.0000%	8h	503.44	−0.050%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.55	−0.027%	$338K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.70	+0.002%	$15.8M	$19.7M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.45	−0.048%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.76	+0.014%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.53	−0.032%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.67	−0.004%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.61	−0.017%	$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	503.61	−0.016%	$19K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.45	+0.151%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.35	−0.068%	$27K	$44K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.63	−0.012%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.69	0.000%	$2.2M	$822K	10x	as long as short
Nado MSFT-PERP	+0.0025%	1h	503.41	−0.056%	$414K	$67K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.51	−0.036%	$700K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.61	−0.016%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.40	−0.058%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.70	+0.002%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.19	−0.099%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.30	−0.077%	$303K	$718K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.56	−0.026%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.19	−0.099%	$522K	$476K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0058%	8h	503.56	−0.026%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.28	−0.081%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0088%	1h	503.17	−0.103%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.117%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.15	−0.107%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.52	−0.034%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.55	−0.028%	$55	—	10x	as long as short
Lighter MSFT	+0.0152%	1h	503.72	+0.006%	$1.2M	$517K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.069%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0701%	4h	503.63	−0.012%	$102K	$244K	10x	as long as short