Funding you earn now, next payment 10:00 UTC+0.0830%/8h= +90.9% APRpaid last 24h +0.090%
Price spread now: Lighter against edgeX+0.024%79s7-day average −0.010% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as 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−$230.226% of the position
Funding, last 7 days+0.079%+$8 on $10k
+Price spread, last 4 days (all we have)−0.034%−$3 · spread now +0.024%, 7d avg −0.010%
=Together, before fees+0.045%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Lighter is 0.034% dearer against edgeX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.010%. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.079% in total (about 4.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | edgeX MSFTUSDC | 503.99 | −0.0798 | get 0.0399% / 4h | 2h 19m | $103K | $243K | 10x |
| Short | Lighter MSFT | 504.11 | 0.0032 | get 0.0004% / 1h | 19m 49s | $1.2M | $481K | 20x |
edgeX MSFTUSDC
Lighter MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against edgeX. 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
- $174.24
- Price spread: +0.024% → −0.010%
- $3.44
- Slippage, 4 orders
- −$13.6
- Fee edgeX: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $155.08
- Costs to cover
- 0.226%
- Break-even
- 0.8 days
Slippage from edgeX: live order book, 30 min ago; Lighter: live order book, 4 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 edgeX live order book, 30 min ago | 5.15 bp | 9.8 bp −$10 | 12.2 bp −$122 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 0.89 bp | 1.5 bp −$2 | 8.3 bp −$83 | doesn't fit | doesn't fit |
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 MSFTUSDClong | −0.0798% | 4h | 503.99 | long leg | $103K | $243K | 10x | |
| Coinbase International MSFT-PERP-INTX | −0.0032% | 1h | 503.50 | −0.097% | $691K | $471K | 10x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 504.09 | +0.020% | $162K | $114K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 504.21 | +0.043% | $325K | $1.9M | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 504.36 | +0.074% | $16.3M | $19.9M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 504.07 | +0.016% | $7.3M | $2.3M | 100x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 504.02 | +0.006% | $3.1M | $1.9M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 504.33 | +0.068% | $3.9M | $2.8M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 504.27 | +0.056% | $1.3M | $393K | — | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 505.11 | +0.223% | $6K | $3.5M | 20x | as long as short |
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 | |
|---|---|---|---|---|---|---|---|---|
| HTX MSFT-USDT | 0.0000% | 8h | 504.22 | +0.046% | $55K | $235K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 504.35 | +0.072% | $2.3M | $887K | 10x | as long as short |
| BloFin MSFT-USDT | 0.0000% | 8h | 504.37 | +0.076% | $202K | $208K | 20x | as long as short |
| Lighter MSFTshort | +0.0032% | 1h | 504.11 | +0.024% | $1.2M | $481K | 20x | |
| Lighter RH MSFT | +0.0032% | 1h | 504.10 | +0.022% | $692K | $1.8M | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0040% | 1h | 503.85 | −0.027% | $33K | $8K | 20x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 504.10 | +0.022% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 503.59 | −0.079% | $11K | $5K | 20x | as long as short |
| OKX MSFT-USDT-SWAP | +0.0048% | 8h | 504.33 | +0.068% | $3.2M | $2.7M | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 503.88 | −0.021% | $22.5M | $9.0M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 504.01 | +0.004% | $314K | $663K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 504.10 | +0.022% | $61K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 503.89 | −0.019% | $532K | $380K | 15x | as long as short |
| Arcus MSFT-USD | +0.0052% | 1h | 504.10 | +0.022% | $93K | $83K | 10x | as long as short |
| Paradex MSFT-USD-PERP | +0.0057% | 8h | 504.14 | +0.031% | $222 | — | 5x | as long as short |
| QFEX MSFT-USD | +0.0061% | 1h | 504.31 | +0.064% | $1.2M | $4.6M | 10x | as long as short |
| Nado MSFT-PERP | +0.0066% | 1h | 504.00 | +0.003% | $412K | $70K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0068% | 1h | 504.05 | +0.012% | $27K | $45K | 10x | as long as short |
| GRVT MSFT_USDT_Perp | +0.0087% | 8h | 504.30 | +0.062% | $19K | $315K | 10x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 503.70 | −0.057% | $1.6M | $185K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 503.39 | −0.119% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 504.23 | +0.048% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 504.22 | +0.046% | $55 | — | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 504.24 | +0.050% | $115K | $45K | 30x | as long as short |
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Lighter RH MSFT
Hotstuff MSFT-PERP
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
Deribit MSFT_USDC-PERPETUAL
GRVT MSFT_USDT_Perp
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Injective MSFT/USDC PERP