Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.021%

Price spread now: Polymarket Perps against SunX−0.255%7-day average −0.242% · you buy dearer than you sell

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$231as in the Price arb table

costs, in and out, $10k−$2302.296% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.255%, 7d avg −0.242%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.242%, 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	SunX MSFT-USDT	502.91	0	get 0.0000% / 8h	1h 05m	$6K	$4.3M	20x
Short	Polymarket Perps MSFT-USD	501.63	0.0050	get 0.0006% / 1h	5m 56s	$305K	$674K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.255%Rate

Funding earned: $10.5
Price spread: −0.255% → −0.242%: −$1.24
Slippage, 4 orders: −$213.63
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$220.37
Costs to cover: 2.296%
Break-even: 153.9 days

Slippage from SunX: live order book, 12 min ago; Polymarket Perps: live order book, 12 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 SunX live order book, 12 min ago	29.13 bp	111.9 bp −$112	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 12 min ago	1.89 bp	5.9 bp −$6	6.1 bp −$61	6.7 bp −$671	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
BloFin MSFT-USDT	−0.0024%	8h	502.15	−0.151%	$188K	$209K	20x	as long as short
Nado MSFT-PERP	−0.0002%	1h	501.86	−0.210%	$414K	$64K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.18	−0.146%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	502.05	−0.172%	$337K	$392K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	502.15	−0.151%	$15.7M	$19.1M	20x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.28	−0.125%	$3.0M	$2.3M	20x	as long as short
Hotstuff MSFT-PERP	0.0000%	1h	501.76	−0.229%	$32K	$8K	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.86	−0.209%	$3.1M	$1.6M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	502.12	−0.157%	$3.8M	$2.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	502.07	−0.168%	$1.3M	$702K	—	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	502.07	−0.168%	$19K	$309K	10x	as long as short
SunX MSFT-USDTlong	0.0000%	8h	502.91	long leg	$6K	$4.3M	20x
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	501.82	−0.217%	$27K	$101K	10x	as long as short
Coinbase International MSFT-PERP-INTX	0.0000%	1h	501.58	−0.264%	$688K	$449K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.97	−0.187%	$59K	$228K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	502.35	−0.111%	$2.2M	$755K	10x	as long as short
Bybit MSFTUSDT	+0.0018%	8h	502.20	−0.141%	$7.4M	$1.7M	100x	as long as short
Lighter RH MSFT	+0.0032%	1h	502.02	−0.177%	$649K	$2.1M	20x	as long as short
QFEX MSFT-USD	+0.0040%	1h	501.99	−0.183%	$1.1M	$5.8M	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.91	−0.199%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.75	−0.231%	$22.3M	$9.6M	20x	as long as short
Polymarket Perps MSFT-USDshort	+0.0050%	1h	501.63	−0.255%	$305K	$674K	10x
SoDEX MSFT-USD	+0.0050%	1h	502.05	−0.171%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.73	−0.235%	$529K	$493K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	502.01	−0.179%	$221	—	5x	as long as short
Phoenix MSFT	+0.0080%	1h	501.86	−0.209%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.70	−0.241%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.95	−0.191%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.01	−0.179%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	502.07	−0.168%	$55	—	10x	as long as short
Lighter MSFT	+0.0120%	1h	502.19	−0.143%	$1.1M	$590K	20x	as long as short
Arcus MSFT-USD	+0.0200%	1h	502.01	−0.179%	$98K	$109K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	502.30	−0.121%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0793%	4h	502.06	−0.170%	$102K	$242K	10x	as long as short