Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Polymarket Perps+0.090%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Polymarket Perps Short on Bitget

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−0.124%−$12 · spread now +0.090%, 7d avg +0.099%

Together, before fees−0.220%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.099%, 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	Polymarket Perps MSFT-USD	501.64	0.0050	pay 0.0006% / 1h	23m 11s	$303K	$678K	10x
Short	Bitget MSFTUSDT	502.09	0	get 0.0000% / 8h	23m 11s	$3.8M	$2.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Polymarket Perps. 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 Polymarket PerpsbpFee BitgetbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$10.5
Price spread: +0.090% → +0.099%: −$0.95
Slippage, 4 orders: −$10.22
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.67
Costs to cover: 0.302%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 55 min ago; Bitget: live order book, 5 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 Polymarket Perps live order book, 55 min ago	1.89 bp	6.0 bp −$6	8.1 bp −$81	10.0 bp −$1,004	doesn't fit
Sell Bitget live order book, 5 min ago	1.39 bp	9.6 bp −$10	13.5 bp −$135	46.4 bp −$4,636	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	−0.0020%	1h	501.85	+0.042%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	+0.024%	$687K	$449K	10x	as long as short
BloFin MSFT-USDT	−0.0015%	8h	502.07	+0.086%	$189K	$209K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.14	+0.100%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.01	+0.074%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.11	+0.094%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.21	+0.114%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	501.72	+0.016%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.79	+0.030%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTshort	0.0000%	8h	502.09	+0.090%	$3.8M	$2.3M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.99	+0.069%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.03	+0.078%	$19K	$298K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.87	+0.245%	$6K	$4.3M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.83	+0.038%	$27K	$101K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.97	+0.066%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.11	+0.094%	$2.2M	$748K	10x	as long as short
Bybit MSFTUSDT	+0.0031%	8h	502.15	+0.102%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.93	+0.058%	$619K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.93	+0.058%	—	$1K	25x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.05	+0.082%	$1.2M	$5.9M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.70	+0.012%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.64	long leg	$303K	$678K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.01	+0.074%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.63	−0.002%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	502.02	+0.076%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.78	+0.028%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.54	−0.020%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.59	−0.010%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.91	+0.054%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.97	+0.065%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	502.20	+0.112%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.37	+0.146%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	501.95	+0.062%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0346%	4h	502.02	+0.077%	$102K	$242K	10x	as long as short