Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.009%

Price spread now: Lighter RH against Bitget−0.062%7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on Bitget Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 7 days+0.062%+$6 · spread now −0.062%, 7d avg −0.073%

Together, before fees+0.116%+ Points / potential airdropLighter RH: Points live · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.073%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget MSFTUSDT	501.91	0	get 0.0000% / 8h	5h 36m	$4.5M	$2.5M	100x
Short	Lighter RH MSFT	501.60	0.0032	get 0.0004% / 1h	36m 44s	$683K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bitget. 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 BitgetbpFee Lighter RHbpOrdersPrice spread, now −0.062%Rate

Funding earned: $6.72
Price spread: −0.062% → −0.073%: $1.14
Slippage, 4 orders: −$10.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$14.86
Costs to cover: 0.227%
Break-even: 22.5 days

Slippage from Bitget: live order book, 1 min ago; Lighter RH: live order book, 1 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 Bitget live order book, 1 min ago	1.49 bp	9.1 bp −$9	12.7 bp −$127	40.2 bp −$4,020	doesn't fit
Sell Lighter RH live order book, 1 min ago	1.50 bp	2.2 bp −$2	3.9 bp −$39	38.3 bp −$3,826	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	501.24	−0.133%	$679K	$456K	10x	as long as short
Nado MSFT-PERP	−0.0047%	1h	501.47	−0.088%	$414K	$64K	20x	as long as short
Hotstuff MSFT-PERP	−0.0008%	1h	501.35	−0.112%	$32K	$8K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	501.68	−0.046%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.77	−0.027%	$338K	$891K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.95	+0.008%	$15.7M	$18.9M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.85	−0.012%	$7.4M	$1.6M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	502.04	+0.026%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.79	−0.024%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDTlong	0.0000%	8h	501.91	long leg	$4.5M	$2.5M	100x

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MSFT	0.0000%	8h	501.90	−0.003%	$1.3M	$650K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	501.90	−0.002%	$19K	$297K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.68	+0.153%	$6K	$4.1M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.74	−0.034%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.95	+0.008%	$2.2M	$770K	10x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	501.85	−0.012%	$189K	$204K	20x	as long as short
QFEX MSFT-USD	+0.0030%	1h	501.71	−0.040%	$1.2M	$5.7M	10x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	501.60	−0.062%	$683K	$2.0M	20x
Arcus MSFT-USD	+0.0040%	1h	501.62	−0.058%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.61	−0.060%	—	$1K	25x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0049%	1h	501.53	−0.076%	$27K	$41K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	501.42	−0.098%	$22.1M	$9.1M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	501.45	−0.092%	$302K	$648K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.79	−0.024%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	501.40	−0.102%	$524K	$487K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0060%	8h	501.62	−0.057%	$221	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	501.58	−0.066%	$10K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	501.58	−0.066%	$1.5M	$19K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	501.43	−0.096%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.73	−0.036%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	501.71	−0.041%	$55	—	10x	as long as short
Lighter MSFT	+0.0144%	1h	501.89	−0.004%	$1.1M	$458K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.265%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0622%	4h	501.92	+0.002%	$102K	$242K	10x	as long as short