MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h −0.057%

Price spread now: Lighter against Arcus+0.064%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now +0.064%, 7d avg +0.018%

Together, before fees−0.102%+ Points / potential airdropLighter: Season 3 · farm board−$10 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: Lighter is 0.046% dearer against Arcus than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus MSFT-USD	503.36	0.0040	pay 0.0005% / 1h	2m 06s	$97K	$110K	10x
Short	Lighter MSFT	503.68	0.0032	get 0.0004% / 1h	2m 06s	$1.2M	$514K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$1.74
Price spread: +0.064% → +0.018%: $4.6
Slippage, 4 orders: −$19.54
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$21.17
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Arcus: live order book, 51 min ago; Lighter: live order book, 4 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 Arcus live order book, 51 min ago	4.09 bp	9.3 bp −$9	13.9 bp −$139	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.79 bp	2.3 bp −$2	5.9 bp −$59	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
Nado MSFT-PERP	−0.0096%	1h	503.43	+0.014%	$414K	$65K	20x	as long as short
Hotstuff MSFT-PERP	−0.0056%	1h	503.25	−0.022%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	503.33	−0.006%	$685K	$460K	10x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.54	+0.036%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.70	+0.067%	$337K	$1.0M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.84	+0.095%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.49	+0.026%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.72	+0.072%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.52	+0.032%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.61	+0.050%	$4.4M	$2.6M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	503.40	+0.007%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.55	+0.038%	$18K	$303K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.63	+0.252%	$6K	$4.0M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.69	+0.066%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.99	+0.125%	$2.2M	$786K	10x	as long as short
BloFin MSFT-USDT	+0.0013%	8h	503.82	+0.091%	$190K	$205K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0019%	1h	503.31	−0.010%	$22.3M	$8.8M	20x	as long as short
Lighter MSFTshort	+0.0032%	1h	503.68	+0.064%	$1.2M	$514K	20x
Lighter RH MSFT	+0.0032%	1h	503.48	+0.024%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.62	+0.052%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USDlong	+0.0040%	1h	503.36	long leg	$97K	$110K	10x
Vest MSFT-USD-PERP	+0.0046%	1h	503.59	+0.046%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.27	−0.018%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.39	+0.006%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.58	+0.044%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.08	−0.056%	$512K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.65	+0.058%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.13	−0.046%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.52	+0.032%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.55	+0.038%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.60	+0.048%	$55	—	10x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0187%	1h	503.58	+0.044%	$27K	$42K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.84	+0.095%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0954%	4h	503.42	+0.013%	$102K	$243K	10x	as long as short