Funding arb · Price arb /

MSFT

RWAall MSFT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Ondo Perps against Polymarket Perps+0.030%7-day average −0.010% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.030%, 7d avg −0.010%

Together, before fees−0.043%+ Points / potential airdropOndo Perps: Active · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.040% dearer against Polymarket Perps than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	501.76	0.0050	pay 0.0006% / 1h	39m 44s	$303K	$678K	10x
Short	Ondo Perps MSFT-USD.P	501.91	0.0050	get 0.0006% / 1h	39m 44s	$529K	$494K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0.08
Price spread: +0.030% → −0.010%: $4.02
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$8.89
Costs to cover: 0.130%
Break-even: 748.2 days

Slippage unknown: Polymarket Perps: live order book, 38 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 38 min ago	1.89 bp	6.0 bp −$6	8.1 bp −$81	10.0 bp −$1,004	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0018%	1h	501.95	+0.037%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.76	0.000%	$687K	$450K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.21	+0.090%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.16	+0.080%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.24	+0.096%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.28	+0.104%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.99	+0.046%	$3.2M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.24	+0.096%	$3.8M	$2.3M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.20	+0.088%	$1.3M	$692K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	502.16	+0.079%	$18K	$300K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	503.02	+0.251%	$6K	$4.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	502.15	+0.078%	$59K	$227K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.34	+0.116%	$2.2M	$749K	10x	as long as short
BloFin MSFT-USDT	+0.0019%	8h	502.26	+0.100%	$188K	$209K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	501.85	+0.018%	$32K	$8K	20x	as long as short
Bybit MSFTUSDT	+0.0029%	8h	502.30	+0.108%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.13	+0.074%	$638K	$2.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	502.10	+0.068%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	502.06	+0.060%	$27K	$101K	10x	as long as short
QFEX MSFT-USD	+0.0049%	1h	502.14	+0.076%	$1.1M	$5.8M	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.87	+0.022%	$22.3M	$9.4M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.76	long leg	$303K	$678K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.17	+0.082%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.Pshort	+0.0050%	1h	501.91	+0.030%	$529K	$494K	15x
Paradex MSFT-USD-PERP	+0.0054%	8h	502.17	+0.082%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.94	+0.036%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.72	−0.008%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.91	+0.030%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.18	+0.084%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.18	+0.084%	$55	—	10x	as long as short
Lighter MSFT	+0.0160%	1h	502.35	+0.118%	$1.1M	$585K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.57	+0.161%	$115K	$45K	30x	as long as short
Arcus MSFT-USD	+0.0286%	1h	502.15	+0.078%	$97K	$109K	10x	as long as short
edgeX MSFTUSDC	+0.0865%	4h	502.25	+0.099%	$102K	$244K	10x	as long as short