Funding you earn now, next payment 06:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h −0.005%
Price spread now: Lighter RH against BloFin−0.026%91s7-day average −0.073% · you buy dearer than you sell
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$210.212% of the position
Funding, last 7 days+0.029%+$3 on $10k
+Price spread, last 4 days (all we have)−0.098%−$10 · spread now −0.026%, 7d avg −0.073%
=Together, before fees−0.069%+ Points / potential airdropLighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.048% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.073%. The two prices were read 91 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 | BloFin MSFT-USDT | 504.00 | −0.0008 | get 0.0008% / 8h | 2h 29m | $190K | $206K | 20x |
| Short | Lighter RH MSFT | 503.87 | 0.0032 | get 0.0004% / 1h | 29m 46s | $688K | $2.0M | 20x |
BloFin MSFT-USDT
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against BloFin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $8.45
- Price spread: −0.026% → −0.073%
- $4.75
- Slippage, 4 orders
- −$9.23
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$8.03
- Costs to cover
- 0.212%
- Break-even
- 13.7 days
Slippage from BloFin: live order book, 51 min ago; Lighter RH: live order book, 3 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 BloFin live order book, 51 min ago | 0.20 bp | 8.8 bp −$9 | 13.4 bp −$134 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 1.49 bp | 1.5 bp −$1 | 4.0 bp −$40 | 38.1 bp −$3,815 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0759% | 4h | 503.75 | −0.049% | $102K | $244K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0064% | 1h | 503.26 | −0.147% | $682K | $465K | 10x | as long as short |
| Nado MSFT-PERP | −0.0017% | 1h | 503.89 | −0.023% | $413K | $66K | 20x | as long as short |
| BloFin MSFT-USDTlong | −0.0008% | 8h | 504.00 | long leg | $190K | $206K | 20x | |
| Aster MSFTUSDT | 0.0000% | 8h | 503.85 | −0.029% | $162K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 503.91 | −0.017% | $341K | $1.2M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.03 | +0.006% | $15.8M | $19.3M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 503.77 | −0.046% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 503.98 | −0.004% | $3.0M | $2.4M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 503.71 | −0.058% | $3.1M | $1.7M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 504.04 | +0.008% | $3.8M | $2.9M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 503.95 | −0.011% | $1.3M | $477K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 503.86 | −0.028% | $18K | $316K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 504.80 | +0.159% | $6K | $3.9M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 503.75 | −0.050% | $27K | $42K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 503.99 | −0.002% | $59K | $226K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.14 | +0.028% | $2.2M | $796K | 10x | as long as short |
| Phoenix MSFT | +0.0016% | 1h | 503.58 | −0.083% | $11K | $15K | 20x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 503.87 | −0.026% | $688K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0036% | 1h | 503.86 | −0.028% | $1.2M | $4.8M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 503.56 | −0.087% | $97K | $110K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 503.99 | −0.002% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.60 | −0.079% | $22.3M | $8.9M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 503.67 | −0.065% | $303K | $720K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 503.80 | −0.040% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.02 | −0.194% | $517K | $470K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0052% | 8h | 503.90 | −0.019% | $222 | — | 5x | as long as short |
| Hotstuff MSFT-PERP | +0.0080% | 1h | 503.44 | −0.111% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.25 | −0.149% | $1.6M | $57K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.54 | −0.091% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 503.92 | −0.016% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 503.95 | −0.010% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0112% | 1h | 504.13 | +0.026% | $1.2M | $506K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.04 | +0.008% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
Phoenix MSFT
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP