MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0144%/8h= +15.8% APRnext payment +$0.18 per $10,000 · paid last 24h +0.030%

Price spread now: Lighter against Coinbase International+0.060%7-day average +0.099% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 4 days (all we have)−0.095%−$10 · spread now +0.060%, 7d avg +0.099%

Together, before fees+0.043%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.039% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.060% now, against its 7-day average of +0.099%). If the spread goes back, that is −$4 on $10k: about 22 hours of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.139% in total) that is about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	500.97	−0.0040	get 0.0005% / 1h	44m 29s	$678K	$458K	10x
Short	Lighter MSFT	501.27	0.0104	get 0.0013% / 1h	44m 29s	$1.1M	$489K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.060%Rate

Funding earned: $30.24
Price spread: +0.060% → +0.099%: −$3.92
Slippage, 4 orders: −$11.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $4.99
Costs to cover: 0.213%
Break-even: 5.8 days

Slippage from Coinbase International: live order book, 14 min ago; Lighter: live order book, 6 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 Coinbase International live order book, 14 min ago	2.70 bp	8.3 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.60 bp	2.5 bp −$2	9.0 bp −$90	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	−0.0041%	1h	500.94	−0.006%	$414K	$64K	20x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0040%	1h	500.97	long leg	$678K	$458K	10x
Aster MSFTUSDT	0.0000%	8h	501.06	+0.017%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	501.15	+0.035%	$341K	$893K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	501.29	+0.064%	$15.7M	$19.0M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	501.02	+0.010%	$7.2M	$2.1M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	501.31	+0.068%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	501.22	+0.050%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	501.32	+0.070%	$4.5M	$2.5M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	501.27	+0.060%	$1.3M	$617K	—	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	501.29	+0.064%	$19K	$300K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	502.09	+0.224%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	500.97	0.000%	$27K	$41K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	501.18	+0.042%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	501.55	+0.116%	$2.2M	$777K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	500.80	−0.034%	$32K	$8K	20x	as long as short
BloFin MSFT-USDT	+0.0028%	8h	501.32	+0.070%	$189K	$204K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	501.11	+0.028%	$680K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	501.17	+0.040%	$1.1M	$5.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	501.01	+0.008%	$96K	$111K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	501.06	+0.018%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	501.04	+0.014%	$10K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	500.81	−0.032%	$22.0M	$8.8M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	500.86	−0.022%	$295K	$673K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	501.21	+0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	500.84	−0.026%	$527K	$456K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0056%	8h	501.14	+0.034%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	500.80	−0.034%	$1.5M	$20K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	500.94	−0.006%	$159K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	501.19	+0.044%	$8K	—	10x	as long as short
Lighter MSFTshort	+0.0104%	1h	501.27	+0.060%	$1.1M	$489K	20x
Aevo MSFT-PERP	+0.0104%	1h	501.20	+0.046%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	501.34	+0.074%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0292%	4h	501.27	+0.060%	$102K	$244K	10x	as long as short