MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0080%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h +0.017%

Price spread now: Lighter RH against Coinbase International−0.058%7-day average +0.055% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on Coinbase International Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.058%, 7d avg +0.055%

Together, before fees+0.123%+ Points / potential airdropLighter RH: Points live · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.112% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of +0.055%). If the spread goes back, that is −$11 on $10k: about 4.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International MSFT-PERP-INTX	503.66	−0.0048	get 0.0006% / 1h	5m 15s	$682K	$499K	10x
Short	Lighter RH MSFT	503.37	0.0032	get 0.0004% / 1h	5m 15s	$694K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.058%Rate

Funding earned: $16.8
Price spread: −0.058% → +0.055%: −$11.24
Slippage, 4 orders: −$9.91
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$14.35
Costs to cover: 0.199%
Break-even: 13.0 days

Slippage from Coinbase International: live order book, 38 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 Coinbase International live order book, 38 min ago	2.48 bp	7.8 bp −$8	10.2 bp −$102	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.29 bp	1.4 bp −$1	4.1 bp −$41	40.0 bp −$4,001	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	−0.0748%	4h	503.68	+0.004%	$102K	$243K	10x	as long as short
Coinbase International MSFT-PERP-INTXlong	−0.0048%	1h	503.66	long leg	$682K	$499K	10x
BloFin MSFT-USDT	−0.0001%	8h	503.74	+0.016%	$190K	$207K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.32	−0.068%	$162K	$114K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.53	−0.025%	$339K	$1.2M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.58	−0.016%	$15.8M	$19.5M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.35	−0.062%	$7.3M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.64	−0.004%	$3.0M	$2.4M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.43	−0.046%	$3.1M	$1.8M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.62	−0.008%	$3.8M	$3.0M	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	503.60	−0.013%	$1.3M	$414K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.72	+0.012%	$18K	$328K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.48	+0.163%	$6K	$3.9M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.50	−0.032%	$59K	$226K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.74	+0.016%	$2.2M	$823K	10x	as long as short
Nado MSFT-PERP	+0.0022%	1h	503.40	−0.051%	$414K	$67K	20x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	503.21	−0.089%	$32K	$8K	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	+0.0028%	1h	503.42	−0.048%	$27K	$44K	10x	as long as short
Lighter RH MSFTshort	+0.0032%	1h	503.37	−0.058%	$694K	$2.0M	20x
QFEX MSFT-USD	+0.0039%	1h	503.62	−0.008%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.41	−0.050%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.70	+0.008%	—	$1K	25x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	503.29	−0.073%	$22.4M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.34	−0.064%	$303K	$718K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.42	−0.048%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.09	−0.113%	$513K	$453K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0057%	8h	503.51	−0.030%	$222	—	5x	as long as short
Phoenix MSFT	+0.0064%	1h	503.38	−0.056%	$11K	$15K	20x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	503.10	−0.111%	$1.6M	$60K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.24	−0.083%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.50	−0.032%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.56	−0.020%	$55	—	10x	as long as short
Lighter MSFT	+0.0144%	1h	503.54	−0.024%	$1.2M	$533K	20x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.98	+0.064%	$115K	$45K	30x	as long as short