Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0050%/8hpaid last 24h −0.021%

Price spread now: OKX against Polymarket Perps+0.118%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 7 days−0.137%−$14 · spread now +0.118%, 7d avg +0.100%

Together, before fees−0.234%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.100%, 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	500.80	0.0050	pay 0.0006% / 1h	4m 56s	$315K	$654K	10x
Short	OKX MSFT-USDT-SWAP	501.39	0	get 0.0000% / 8h	4h 04m	$3.1M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$10.5
Price spread: +0.118% → +0.100%: $1.82
Slippage, 4 orders: −$12.81
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$39.49
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 26 min ago; OKX: live order book, 2 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, 26 min ago	1.80 bp	7.4 bp −$7	8.3 bp −$83	9.1 bp −$907	doesn't fit
Sell OKX live order book, 2 min ago	1.70 bp	8.9 bp −$9	16.8 bp −$168	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
edgeX MSFTUSDC	−0.0549%	4h	500.58	−0.043%	$102K	$243K	10x	as long as short
Nado MSFT-PERP	−0.0028%	1h	500.58	−0.044%	$449K	$44K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	499.93	−0.174%	$692K	$403K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.02	+0.044%	$156K	$110K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.30	+0.100%	$371K	$401K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.37	+0.114%	$15.6M	$18.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.33	+0.106%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAPshort	0.0000%	8h	501.39	+0.118%	$3.1M	$2.2M	20x
Gate MSFT_USDT	0.0000%	8h	501.04	+0.048%	$3.1M	$1.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.10	+0.060%	$1.3M	$741K	—	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	501.24	+0.088%	$18K	$340K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.16	+0.272%	$6K	$4.4M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.26	+0.092%	$58K	$231K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.49	+0.138%	$2.2M	$730K	10x	as long as short
Bitget MSFTUSDT	+0.0009%	8h	501.21	+0.082%	$3.9M	$2.0M	100x	as long as short
BloFin MSFT-USDT	+0.0027%	8h	501.32	+0.104%	$192K	$206K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0029%	1h	501.17	+0.074%	$27K	$115K	10x	as long as short
Lighter MSFT	+0.0032%	1h	501.45	+0.130%	$1.1M	$635K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.30	+0.100%	$667K	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	+0.0040%	1h	500.63	−0.034%	$32K	$8K	20x	as long as short
QFEX MSFT-USD	+0.0045%	1h	500.90	+0.020%	$1.1M	$5.5M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.05	+0.050%	—	—	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.05	+0.050%	$22.2M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	500.80	long leg	$315K	$654K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.33	+0.106%	$60K	$3K	10x	as long as short
Paradex MSFT-USD-PERP	+0.0050%	8h	500.82	+0.003%	$220	—	5x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.51	−0.058%	$514K	$474K	15x	as long as short
Phoenix MSFT	+0.0080%	1h	500.53	−0.054%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.70	−0.020%	$1.5M	$11K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.84	+0.008%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.00	+0.040%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.00	+0.039%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	500.34	−0.092%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0553%	1h	500.90	+0.020%	$111K	$76K	10x	as long as short