After costs, if the gap returns to its 7d average, $10k−$28
spread now+0.036%7d average+0.042%fees + slippage, in and out−$28spread needed0.278%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps MSFT-USD | 498.69 | 0.0050 | pay 0.0006% / 1h | 5m 33s | $302K | $444K | 10x |
| Short | Deribit MSFT_USDC-PERPETUAL | 498.87 | 0.0011 | get 0.0001% / 1h | 5m 33s | $27K | $113K | 10x |
Polymarket Perps MSFT-USD
Deribit MSFT_USDC-PERPETUALPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $3.61
- Funding while held
- −$1.18
- Slippage, 4 orders
- −$12.83
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$25.4
- Spread needed to break even
- 0.278%
Slippage from Polymarket Perps: live order book, 33 min ago; Deribit: live order book, 55 min ago.
Cost of waiting
funding view- Funding /8h
- −0.0039%
- Per $10,000 a day
- −$1.18
- Average in range /8h
- —
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, 33 min ago | 0.10 bp | 4.1 bp −$4 | 4.2 bp −$42 | 7.9 bp −$787 | doesn't fit |
| Sell Deribit live order book, 55 min ago | 0.10 bp | 3.6 bp −$4 | 5.1 bp −$51 | doesn't fit | doesn't fit |
MSFT price on every exchange
against the cheapest. Click to use as the short leg.Coinbase International497.09cheapestApeX Omni498.04+0.191%Ondo Perps498.27+0.237%Hotstuff498.33+0.249%Phoenix498.53+0.290%KuCoin498.55+0.294%BloFin498.68+0.320%Aster498.69+0.322%
Coinbase International
ApeX Omni
Ondo Perps
Hotstuff
Phoenix
KuCoin
BloFin
AsterPolymarket Perps498.69+0.322%
tradeXYZ498.74+0.332%Gate498.75+0.334%Variational Omni498.77+0.337%edgeX498.82+0.347%Injective498.82+0.348%HTX498.83+0.350%Aevo498.83+0.350%Orderly498.87+0.358%SoDEX498.87+0.358%
tradeXYZ
Gate
Variational Omni
Injective
HTX
Aevo
Orderly
SoDEXDeribit498.87+0.358%
Nado498.92+0.368%Vest498.97+0.378%Lighter RH499.05+0.394%Bitget499.05+0.394%Arcus499.07+0.398%Bybit499.09+0.402%Binance499.11+0.406%Paradex499.13+0.410%QFEX499.13+0.410%OKX499.14+0.412%Extended499.14+0.412%Phemex499.16+0.416%Lighter499.30+0.445%SunX499.72+0.529%
Nado
Vest
Lighter RH
Bitget
Arcus
Bybit
Binance
Paradex
QFEX
OKX
Extended
Phemex
Lighter
SunXMSFT on 33 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Coinbase International MSFT-PERP-INTX | −0.321% | −0.0056% | 1h | $675K | $353K | 10x | as long as short |
| ApeX Omni MSFTUSDT | −0.130% | +0.0100% | 1h | $159K | $7K | 50x | as long as short |
| Ondo Perps MSFT-USD.P | −0.084% | +0.0050% | 1h | $510K | $451K | 15x | as long as short |
| Hotstuff MSFT-PERP | −0.072% | +0.0168% | 1h | $40K | — | 20x | as long as short |
| Phoenix MSFT | −0.032% | +0.0048% | 1h | $10K | $15K | 20x | as long as short |
| KuCoin MSFTUSDTM | −0.028% | +0.0100% | 8h | $1.5M | $10K | 20x | as long as short |
| BloFin MSFT-USDT | −0.002% | −0.0029% | 8h | $192K | $182K | 20x | as long as short |
| Aster MSFTUSDT | 0.000% | 0.0000% | 8h | $157K | $80K | 20x | as long as short |
| Polymarket Perps MSFT-USDlong | 0.000% | +0.0050% | 1h | $302K | $444K | 10x | |
| tradeXYZ xyz:MSFT | +0.010% | +0.0050% | 1h | $21.8M | $8.6M | 20x | as long as short |
Show all 33 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Gate MSFT_USDT | +0.012% | 0.0000% | 8h | $3.1M | $1.3M | 100x | as long as short |
| Variational Omni MSFT | +0.016% | 0.0000% | 8h | $1.3M | $719K | — | as long as short |
| edgeX MSFTUSDC | +0.025% | −0.0202% | 4h | $101K | $244K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.026% | +0.0220% | 1h | $114K | $125K | 30x | as long as short |
| HTX MSFT-USDT | +0.028% | 0.0000% | 8h | $58K | $230K | 20x | as long as short |
| Aevo MSFT-PERP | +0.028% | +0.0104% | 1h | $55 | — | 10x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.036% | +0.0100% | 8h | $8K | — | 10x | as long as short |
| SoDEX MSFT-USD | +0.036% | +0.0050% | 1h | $60K | $3K | 10x | as long as short |
| Deribit MSFT_USDC-PERPETUALshort | +0.036% | +0.0011% | 1h | $27K | $113K | 10x | |
| Nado MSFT-PERP | +0.046% | −0.0002% | 1h | $461K | $6K | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.056% | +0.0046% | 1h | — | — | 25x | as long as short |
| Lighter RH MSFT | +0.072% | +0.0032% | 1h | $655K | $2.1M | 20x | as long as short |
| Bitget MSFTUSDT | +0.072% | 0.0000% | 8h | $3.7M | $1.7M | 100x | as long as short |
| Arcus MSFT-USD | +0.076% | +0.0577% | 1h | $111K | $75K | 10x | as long as short |
| Bybit MSFTUSDT | +0.080% | 0.0000% | 8h | $7.3M | $1.5M | 100x | as long as short |
| Binance MSFTUSDT | +0.084% | 0.0000% | 8h | $15.7M | $16.6M | 20x | as long as short |
| Paradex MSFT-USD-PERP | +0.088% | +0.0050% | 8h | $220 | — | 5x | as long as short |
| QFEX MSFT-USD | +0.088% | +0.0028% | 1h | $1.2M | $4.5M | 10x | as long as short |
| OKX MSFT-USDT-SWAP | +0.090% | 0.0000% | 8h | $3.1M | $2.1M | 20x | as long as short |
| Extended MSFT_24_5-USD | +0.090% | 0.0000% | 1h | $372K | $410K | 17x | as long as short |
| Phemex MSFTUSDT | +0.094% | 0.0000% | 8h | $2.1M | $632K | 10x | as long as short |
| Lighter MSFT | +0.122% | +0.0040% | 1h | $1.1M | $544K | 20x | as long as short |
| SunX MSFT-USDT | +0.207% | 0.0000% | 8h | $6K | $4.4M | 20x | as long as short |