Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against HTX−0.026%7-day average −0.065% · 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−$27as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on HTX Short on Polymarket Perps

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)−0.058%−$6 · spread now −0.026%, 7d avg −0.065%

Together, before fees+0.053%+$5 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 0.039% dearer against HTX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX MSFT-USDT	502.86	0	get 0.0000% / 8h	3h 21m	$59K	$225K	20x
Short	Polymarket Perps MSFT-USD	502.73	0.0050	get 0.0006% / 1h	21m 22s	$304K	$705K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against HTX. 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 HTXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.026%Rate

Funding earned: $10.5
Price spread: −0.026% → −0.065%: $3.93
Slippage, 4 orders: −$11.22
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.79
Costs to cover: 0.312%
Break-even: 18.2 days

Slippage from HTX: live order book, 30 min ago; Polymarket Perps: live order book, 31 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 HTX live order book, 30 min ago	2.69 bp	8.8 bp −$9	17.0 bp −$170	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 31 min ago	2.00 bp	7.7 bp −$8	8.1 bp −$81	9.6 bp −$957	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
Nado MSFT-PERP	−0.0104%	1h	502.89	+0.006%	$415K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	502.46	−0.080%	$680K	$448K	10x	as long as short
tradeXYZ xyz:MSFT	−0.0010%	1h	502.64	−0.044%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.94	+0.016%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.93	+0.014%	$339K	$884K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.03	+0.034%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.79	−0.014%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.13	+0.054%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.90	+0.008%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.04	+0.036%	$4.4M	$2.6M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	502.37	−0.097%	$1.3M	$607K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.63	−0.045%	$19K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.86	+0.199%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.78	−0.016%	$27K	$42K	10x	as long as short
HTX MSFT-USDTlong	0.0000%	8h	502.86	long leg	$59K	$225K	20x
Phemex MSFTUSDT	0.0000%	8h	503.04	+0.036%	$2.2M	$785K	10x	as long as short
BloFin MSFT-USDT	+0.0020%	8h	503.13	+0.054%	$189K	$204K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.07	+0.042%	$1.1M	$504K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.82	−0.008%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	502.93	+0.014%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.61	−0.050%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.13	+0.054%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.52	−0.068%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	502.73	−0.026%	$304K	$705K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.94	+0.016%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	502.98	+0.023%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.68	−0.036%	$512K	$462K	15x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	502.69	−0.034%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.57	−0.058%	$1.6M	$55K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.75	−0.022%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.99	+0.026%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.99	+0.027%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.14	−0.143%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0633%	4h	502.98	+0.025%	$102K	$243K	10x	as long as short