Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0008%/8h= +0.8% APRpaid last 24h +0.001%

Price spread now: Paradex against Polymarket Perps+0.045%48s7-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 Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Paradex is 0.045% dearer against Polymarket Perps than usual: you sell high and buy low, +$4 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	503.66	0.0050	pay 0.0006% / 1h	41m 35s	$303K	$718K	10x
Short	Paradex MSFT-USD-PERP	503.89	0.0058	get 0.0058% / 8h	1h 41m	$222	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.045%Rate

Funding earned: $1.59
Price spread: +0.045% → 0.000%: $4.47
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$5.93
Costs to cover: 0.120%
Break-even: 33.1 days

Slippage unknown: Polymarket Perps: live order book, 66 min ago; Paradex: 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, 66 min ago	1.19 bp	5.2 bp −$5	6.7 bp −$67	9.1 bp −$915	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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
Coinbase International MSFT-PERP-INTX	−0.0048%	1h	503.66	0.000%	$682K	$500K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.76	+0.019%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.97	+0.061%	$341K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	504.08	+0.083%	$15.8M	$19.6M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.72	+0.012%	$7.3M	$2.3M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.92	+0.052%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.75	+0.018%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.99	+0.066%	$3.8M	$3.0M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.96	+0.059%	$1.3M	$499K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	504.05	+0.077%	$18K	$327K	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	504.74	+0.214%	$6K	$3.9M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.73	+0.014%	$27K	$43K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.87	+0.042%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	504.14	+0.095%	$2.2M	$820K	10x	as long as short
Nado MSFT-PERP	+0.0011%	1h	503.71	+0.010%	$415K	$67K	20x	as long as short
BloFin MSFT-USDT	+0.0027%	8h	504.05	+0.077%	$190K	$206K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.86	+0.040%	$689K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0039%	1h	503.97	+0.062%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.73	+0.014%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.90	+0.048%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.60	−0.012%	$22.4M	$9.0M	20x	as long as short
Polymarket Perps MSFT-USDlong	+0.0050%	1h	503.66	long leg	$303K	$718K	10x
SoDEX MSFT-USD	+0.0050%	1h	503.79	+0.026%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.57	−0.018%	$522K	$476K	15x	as long as short
Hotstuff MSFT-PERP	+0.0056%	1h	503.60	−0.012%	$32K	$8K	20x	as long as short
Paradex MSFT-USD-PERPshort	+0.0058%	8h	503.89	+0.045%	$222	—	5x
Phoenix MSFT	+0.0064%	1h	503.74	+0.016%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.47	−0.038%	$1.6M	$58K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.69	+0.006%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.91	+0.050%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.91	+0.049%	$55	—	10x	as long as short
Lighter MSFT	+0.0136%	1h	504.07	+0.081%	$1.2M	$514K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	504.21	+0.109%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0978%	4h	503.91	+0.050%	$103K	$244K	10x	as long as short