MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.051%

Price spread now: Polymarket Perps against Injective−0.315%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on Injective Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.332%−$33 on $10k

Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.315%, 7d avg −0.037%

Together, before fees−0.105%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Polymarket Perps is 0.278% cheaper against Injective than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective MSFT/USDC PERP	504.86	0.0220	pay 0.0028% / 1h	12m 38s	$116K	$45K	30x
Short	Polymarket Perps MSFT-USD	503.27	0.0050	get 0.0006% / 1h	12m 38s	$303K	$717K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Injective. 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 InjectivebpFee Polymarket PerpsbpOrdersPrice spread, now −0.315%Rate

Funding earned: −$35.7
Price spread: −0.315% → −0.037%: −$27.77
Slippage, 4 orders: −$25.05
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$96.54
Costs to cover: 0.331%
Break-even: never at this rate

Slippage from Injective: live order book, 26 min ago; Polymarket Perps: live order book, 25 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 Injective live order book, 26 min ago	10.03 bp	10.0 bp −$10	10.0 bp −$100	65069.6 bp −$6.51M	365346.9 bp −$182.67M
Sell Polymarket Perps live order book, 25 min ago	2.09 bp	6.9 bp −$7	7.1 bp −$71	8.0 bp −$804	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	−0.0051%	1h	503.41	−0.287%	$414K	$67K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0001%	1h	503.18	−0.333%	$22.4M	$8.9M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.65	−0.240%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.51	−0.267%	$339K	$1.9M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.64	−0.242%	$15.8M	$19.1M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.37	−0.295%	$7.2M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.63	−0.244%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.39	−0.291%	$3.1M	$1.9M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.62	−0.246%	$3.8M	$2.9M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.60	−0.250%	$1.3M	$403K	—	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	503.59	−0.251%	$19K	$320K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.41	−0.089%	$6K	$3.8M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.43	−0.283%	$27K	$44K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	503.16	−0.337%	$681K	$447K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.53	−0.263%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.68	−0.234%	$2.2M	$817K	10x	as long as short
BloFin MSFT-USDT	+0.0003%	8h	503.60	−0.250%	$191K	$206K	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.55	−0.259%	$1.2M	$532K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.44	−0.281%	$708K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0037%	1h	503.48	−0.273%	$1.1M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.37	−0.295%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.73	−0.224%	—	$1K	25x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	503.27	−0.315%	$303K	$717K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.43	−0.283%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.20	−0.329%	$513K	$429K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.51	−0.267%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.35	−0.299%	$11K	$15K	20x	as long as short
Hotstuff MSFT-PERP	+0.0072%	1h	503.18	−0.333%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.95	−0.378%	$1.6M	$70K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.42	−0.285%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.50	−0.269%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.53	−0.263%	$55	—	10x	as long as short
Injective MSFT/USDC PERPlong	+0.0220%	1h	504.86	long leg	$116K	$45K	30x
edgeX MSFTUSDC	+0.0506%	4h	503.57	−0.256%	$102K	$244K	10x	as long as short