MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0170%/8h= +18.6% APRnext payment +$0.21 per $10,000 · paid last 24h +0.051%

Price spread now: Injective against Polymarket Perps−0.115%51s7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.337% of the position

Long on Polymarket Perps Short on Injective

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)+0.206%+$21 · spread now −0.115%, 7d avg +0.034%

Together, before fees+0.538%+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.149% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.115% now, against its 7-day average of +0.034%). If the spread goes back, that is −$15 on $10k: about 2.9 days of funding at the current rate (+$5 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	502.72	0.0050	pay 0.0006% / 1h	19m 44s	$304K	$705K	10x
Short	Injective MSFT/USDC PERP	502.14	0.0220	get 0.0028% / 1h	19m 44s	$115K	$45K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.115%Rate

Funding earned: $35.7
Price spread: −0.115% → +0.034%: −$14.92
Slippage, 4 orders: −$25.65
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$12.88
Costs to cover: 0.337%
Break-even: 9.5 days

Slippage from Polymarket Perps: live order book, 33 min ago; Injective: live order book, 34 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, 33 min ago	2.00 bp	6.0 bp −$6	6.7 bp −$67	8.9 bp −$891	doesn't fit
Sell Injective live order book, 34 min ago	9.98 bp	10.0 bp −$10	10.0 bp −$100	doesn't fit	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	−0.0103%	1h	502.89	+0.033%	$415K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	502.46	−0.052%	$680K	$448K	10x	as long as short
BloFin MSFT-USDT	−0.0023%	8h	503.09	+0.074%	$189K	$205K	20x	as long as short
tradeXYZ xyz:MSFT	−0.0009%	1h	502.66	−0.012%	$22.2M	$8.8M	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.90	+0.036%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.90	+0.036%	$339K	$884K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.05	+0.066%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.83	+0.022%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.13	+0.082%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.92	+0.040%	$3.1M	$1.8M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.02	+0.060%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.01	+0.057%	$1.3M	$606K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.63	−0.017%	$19K	$299K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.86	+0.227%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.81	+0.018%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.93	+0.042%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.32	+0.119%	$2.2M	$786K	10x	as long as short
Lighter MSFT	+0.0032%	1h	503.10	+0.076%	$1.1M	$504K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.82	+0.020%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	502.94	+0.044%	$1.1M	$4.9M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	502.67	−0.010%	$96K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.16	+0.088%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	502.52	−0.040%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	502.72	long leg	$304K	$705K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.91	+0.038%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	502.94	+0.044%	$221	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.68	−0.008%	$512K	$462K	15x	as long as short
Hotstuff MSFT-PERP	+0.0064%	1h	502.69	−0.006%	$32K	$8K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.57	−0.030%	$1.6M	$55K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	502.75	+0.006%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.99	+0.054%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.00	+0.055%	$55	—	10x	as long as short
Injective MSFT/USDC PERPshort	+0.0220%	1h	502.14	−0.115%	$115K	$45K	30x
edgeX MSFTUSDC	+0.0633%	4h	502.98	+0.053%	$102K	$243K	10x	as long as short