Funding you earn now, next payment 10:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.005%
Price spread now: Lighter RH against Deribit+0.034%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 RH: Points live · farm boardneeds both histories
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.034% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit MSFT_USDC-PERPETUAL | 504.05 | 0 | get 0.0000% / 1h | 18m 02s | $27K | $45K | 10x |
| Short | Lighter RH MSFT | 504.22 | 0.0032 | get 0.0004% / 1h | 18m 02s | $691K | $1.8M | 20x |
Deribit MSFT_USDC-PERPETUAL
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Deribit. 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
- $6.72
- Price spread: +0.034% → 0.000%
- $3.37
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- $3.09
- Costs to cover
- 0.070%
- Break-even
- 3.8 days
Slippage unknown: Deribit: no order-book sample; Lighter RH: live order book, 3 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 RH live order book, 3 min ago | 0.99 bp | 1.0 bp −$1 | 3.2 bp −$32 | 41.7 bp −$4,167 | 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 | |
|---|---|---|---|---|---|---|---|---|
| edgeX MSFTUSDC | −0.0190% | 4h | 504.31 | +0.052% | $103K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 503.50 | −0.109% | $691K | $471K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.09 | +0.008% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.29 | +0.048% | $325K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.45 | +0.080% | $16.3M | $19.9M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.11 | +0.012% | $7.3M | $2.3M | 100x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.13 | +0.016% | $3.1M | $1.9M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.11 | +0.012% | $3.9M | $2.8M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.27 | +0.044% | $1.3M | $393K | — | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.21 | +0.230% | $6K | $3.5M | 20x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
Gate MSFT_USDT
Bitget MSFTUSDT
Variational Omni MSFT
SunX MSFT-USDTShow all 34 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit MSFT_USDC-PERPETUALlong | 0.0000% | 1h | 504.05 | long leg | $27K | $45K | 10x | |
| HTX MSFT-USDT | 0.0000% | 8h | 504.31 | +0.052% | $52K | $240K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.81 | +0.151% | $2.3M | $887K | 10x | as long as short |
| Hotstuff MSFT-PERP | +0.0016% | 1h | 503.86 | −0.038% | $33K | $8K | 20x | as long as short |
| BloFin MSFT-USDT | +0.0027% | 8h | 504.36 | +0.062% | $202K | $208K | 20x | as long as short |
| Lighter MSFT | +0.0032% | 1h | 504.18 | +0.026% | $1.2M | $481K | 20x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 504.22 | +0.034% | $691K | $1.8M | 20x | |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.28 | +0.046% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 504.13 | +0.016% | $11K | $5K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | +0.0050% | 8h | 504.35 | +0.060% | $3.2M | $2.7M | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.90 | −0.030% | $22.5M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 504.04 | −0.002% | $314K | $663K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.20 | +0.030% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.89 | −0.032% | $532K | $380K | 15x | as long as short |
| Arcus MSFT-USD | +0.0052% | 1h | 504.11 | +0.012% | $93K | $83K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.0056% | 8h | 504.16 | +0.023% | $222 | — | 5x | as long as short |
| QFEX MSFT-USD | +0.0061% | 1h | 504.35 | +0.060% | $1.1M | $4.6M | 10x | as long as short |
| Nado MSFT-PERP | +0.0064% | 1h | 504.05 | +0.001% | $412K | $70K | 20x | as long as short |
| GRVT MSFT_USDT_Perp | +0.0087% | 8h | 504.30 | +0.050% | $19K | $315K | 10x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.74 | −0.062% | $1.6M | $188K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.84 | −0.042% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.24 | +0.038% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.30 | +0.050% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.24 | +0.038% | $115K | $45K | 30x | as long as short |
HTX MSFT-USDT
Phemex MSFTUSDT
Hotstuff MSFT-PERP
BloFin MSFT-USDT
Lighter MSFT
Vest MSFT-USD-PERP
Phoenix MSFT
OKX MSFT-USDT-SWAP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Arcus MSFT-USD
Paradex MSFT-USD-PERP
QFEX MSFT-USD
Nado MSFT-PERP
GRVT MSFT_USDT_Perp
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP