Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Gate−0.006%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$400.405% of the position

Long on Gate Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 7 days−0.065%−$7 · spread now −0.006%, 7d avg −0.074%

Together, before fees+0.019%+$2 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 0.068% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.074%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MSFT_USDT	503.70	0	get 0.0000% / 8h	2h 30m	$3.1M	$1.7M	100x
Short	Polymarket Perps MSFT-USD	503.67	0.0050	get 0.0006% / 1h	30m 26s	$303K	$720K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Gate. 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 GatebpFee Polymarket PerpsbpOrdersPrice spread, now −0.006%Rate

Funding earned: $10.5
Price spread: −0.006% → −0.074%: $6.77
Slippage, 4 orders: −$17.46
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$23.19
Costs to cover: 0.405%
Break-even: 22.5 days

Slippage from Gate: live order book, 3 min ago; Polymarket Perps: live order book, 17 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 Gate live order book, 3 min ago	3.28 bp	15.9 bp −$16	35.2 bp −$352	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 17 min ago	1.19 bp	6.9 bp −$7	8.0 bp −$80	8.6 bp −$863	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	−0.0759%	4h	503.75	+0.010%	$102K	$244K	10x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.26	−0.087%	$682K	$465K	10x	as long as short
Nado MSFT-PERP	−0.0017%	1h	503.89	+0.037%	$413K	$66K	20x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	504.00	+0.060%	$190K	$206K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.89	+0.038%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.88	+0.037%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.03	+0.065%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.77	+0.014%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.89	+0.038%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDTlong	0.0000%	8h	503.70	long leg	$3.1M	$1.7M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.95	+0.050%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.95	+0.049%	$1.3M	$477K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.86	+0.032%	$18K	$316K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.78	+0.214%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.75	+0.010%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.84	+0.028%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.01	+0.062%	$2.2M	$796K	10x	as long as short
Phoenix MSFT	+0.0016%	1h	503.58	−0.024%	$11K	$15K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.85	+0.030%	$688K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.86	+0.032%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.56	−0.028%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.99	+0.058%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.60	−0.020%	$22.3M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.67	−0.006%	$303K	$720K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.72	+0.004%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.02	−0.135%	$517K	$470K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.89	+0.039%	$222	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0080%	1h	503.44	−0.052%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.33	−0.073%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.54	−0.032%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.86	+0.032%	$8K	—	10x	as long as short
Lighter MSFT	+0.0104%	1h	504.15	+0.089%	$1.2M	$506K	20x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.93	+0.046%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.04	+0.068%	$115K	$45K	30x	as long as short