Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Orderly against Polymarket Perps+0.046%7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.046% dearer against Polymarket Perps than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps MSFT-USD	501.42	0.0050	pay 0.0006% / 1h	19m 02s	$303K	$671K	10x
Short	Orderly PERP_MSFT_USDC_mythos	501.65	0.0100	get 0.0100% / 8h	6h 19m	$8K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.046%Rate

Funding earned: $10.5
Price spread: +0.046% → 0.000%: $4.59
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.09
Costs to cover: 0.140%
Break-even: 6.3 days

Slippage unknown: Polymarket Perps: live order book, 49 min ago; Orderly: 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, 49 min ago	1.80 bp	6.8 bp −$7	7.5 bp −$75	9.5 bp −$950	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 33 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
Coinbase International MSFT-PERP-INTX	−0.0016%	1h	501.22	−0.040%	$679K	$457K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.76	+0.068%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.60	+0.036%	$337K	$899K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.73	+0.062%	$15.6M	$18.8M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.68	+0.052%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.91	+0.098%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.59	+0.034%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.66	+0.048%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.69	+0.054%	$1.3M	$682K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.56	+0.028%	$19K	$295K	10x	as long as short

Show all 33 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX MSFT-USDT	0.0000%	8h	502.52	+0.219%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.53	+0.022%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.96	+0.108%	$2.2M	$765K	10x	as long as short
Nado MSFT-PERP	+0.0004%	1h	501.58	+0.032%	$414K	$64K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.57	+0.030%	$622K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	501.59	+0.034%	$1.1M	$5.7M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.49	+0.014%	$97K	$109K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.67	+0.050%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	501.65	+0.046%	$27K	$41K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.42	0.000%	$22.1M	$9.3M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	501.42	long leg	$303K	$671K	10x
SoDEX MSFT-USD	+0.0050%	1h	501.63	+0.042%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.29	−0.026%	$522K	$518K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0055%	8h	501.66	+0.048%	$221	—	5x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	501.42	0.000%	$32K	$8K	20x	as long as short
Phoenix MSFT	+0.0080%	1h	501.46	+0.008%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.42	0.000%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.24	−0.036%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythosshort	+0.0100%	8h	501.65	+0.046%	$8K	—	10x
Aevo MSFT-PERP	+0.0104%	1h	501.64	+0.043%	$55	—	10x	as long as short
Lighter MSFT	+0.0168%	1h	501.83	+0.082%	$1.1M	$489K	20x	as long as short
edgeX MSFTUSDC	+0.0215%	4h	501.70	+0.055%	$102K	$243K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.78	+0.072%	$115K	$45K	30x	as long as short