MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0133%/8h= −14.6% APRnext payment −$0.17 per $10,000 · paid last 24h +0.015%

Price spread now: Lighter against Deribit+0.006%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit MSFT_USDC-PERPETUAL	506.11	0.0165	pay 0.0021% / 1h	9m 45s	$30K	$45K	10x
Short	Lighter MSFT	506.14	0.0032	get 0.0004% / 1h	9m 45s	$1.2M	$519K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$27.95
Price spread: +0.006% → 0.000%: $0.59
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$34.36
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 4 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	0.99 bp	2.1 bp −$2	6.3 bp −$63	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

MSFT on 34 exchanges

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
Hotstuff MSFT-PERP	−0.1600%	1h	505.80	−0.061%	$33K	$8K	20x	as long as short
edgeX MSFTUSDC	−0.0564%	4h	506.05	−0.011%	$103K	$242K	10x	as long as short
Nado MSFT-PERP	−0.0024%	1h	505.98	−0.025%	$413K	$72K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0008%	1h	506.00	−0.022%	$703K	$742K	10x	as long as short
BloFin MSFT-USDT	−0.0004%	8h	506.32	+0.041%	$203K	$227K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	506.03	−0.016%	$166K	$117K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	506.26	+0.029%	$326K	$2.3M	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	506.38	+0.053%	$16.3M	$22.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	506.18	+0.014%	$7.4M	$2.6M	100x	as long as short
Gate MSFT_USDT	0.0000%	8h	506.10	−0.002%	$3.2M	$2.0M	100x	as long as short

Show all 34 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	506.40	+0.057%	$4.0M	$3.2M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	506.18	+0.013%	$1.3M	$438K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	506.00	−0.022%	$19K	$330K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	507.22	+0.219%	$6K	$3.3M	20x	as long as short
HTX MSFT-USDT	0.0000%	8h	506.44	+0.065%	$49K	$248K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	506.68	+0.113%	$2.3M	$972K	10x	as long as short
Lighter MSFTshort	+0.0032%	1h	506.14	+0.006%	$1.2M	$519K	20x
Lighter RH MSFT	+0.0032%	1h	506.09	−0.004%	$723K	$1.9M	20x	as long as short
QFEX MSFT-USD	+0.0038%	1h	506.13	+0.004%	$1.2M	$4.6M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	506.15	+0.008%	$94K	$83K	10x	as long as short
tradeXYZ xyz:MSFT	+0.0041%	1h	505.80	−0.061%	$21.7M	$10.1M	20x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	506.30	+0.038%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	505.69	−0.083%	$11K	$16K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	506.05	−0.012%	$320K	$672K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	506.27	+0.032%	$61K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	505.85	−0.051%	$516K	$431K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0053%	8h	506.10	−0.003%	$223	—	5x	as long as short
OKX MSFT-USDT-SWAP	+0.0054%	8h	506.52	+0.081%	$3.2M	$2.9M	20x	as long as short
KuCoin MSFTUSDTM	+0.0055%	8h	505.57	−0.107%	$1.6M	$332K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	505.47	−0.126%	$161K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	506.26	+0.030%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	505.26	−0.168%	$56	—	10x	as long as short
Deribit MSFT_USDC-PERPETUALlong	+0.0165%	1h	506.11	long leg	$30K	$45K	10x
Injective MSFT/USDC PERP	+0.0220%	1h	506.07	−0.008%	$116K	$45K	30x	as long as short