MSFT

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.018%

Price spread now: Lighter against Extended+0.028%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Extended Short on Lighter

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)−0.023%−$2 · spread now +0.028%, 7d avg +0.006%

Together, before fees+0.074%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.022% dearer against Extended than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended MSFT_24_5-USD	503.08	0	get 0.0000% / 1h	54m 36s	$341K	$1.2M	17x
Short	Lighter MSFT	503.22	0.0032	get 0.0004% / 1h	54m 36s	$1.2M	$495K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now +0.028%Rate

Funding earned: $6.72
Price spread: +0.028% → +0.006%: $2.24
Slippage, 4 orders: −$8.93
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.96
Costs to cover: 0.139%
Break-even: 12.2 days

Slippage from Extended: live order book, 4 min ago; Lighter: live order book, 1 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 Extended live order book, 4 min ago	0.10 bp	5.2 bp −$5	35.0 bp −$350	doesn't fit	doesn't fit
Sell Lighter live order book, 1 min ago	0.99 bp	1.4 bp −$1	6.3 bp −$63	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
Coinbase International MSFT-PERP-INTX	−0.0064%	1h	503.29	+0.042%	$685K	$461K	10x	as long as short
Nado MSFT-PERP	−0.0049%	1h	502.90	−0.035%	$412K	$66K	20x	as long as short
BloFin MSFT-USDT	−0.0008%	8h	503.14	+0.012%	$190K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	502.96	−0.023%	$161K	$116K	20x	as long as short
Extended MSFT_24_5-USDlong	0.0000%	1h	503.08	long leg	$341K	$1.2M	17x
Binance MSFTUSDT	0.0000%	8h	503.21	+0.027%	$15.8M	$19.3M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	502.94	−0.027%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.35	+0.054%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	502.93	−0.029%	$3.1M	$1.7M	100x	as long as short
Bitget MSFTUSDT	0.0000%	8h	503.14	+0.012%	$4.4M	$2.6M	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	503.19	+0.022%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.45	+0.075%	$19K	$307K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	503.94	+0.171%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	502.85	−0.045%	$27K	$42K	10x	as long as short
HTX MSFT-USDT	0.0000%	8h	503.05	−0.006%	$59K	$225K	20x	as long as short
Phemex MSFTUSDT	0.0000%	8h	503.75	+0.134%	$2.2M	$791K	10x	as long as short
Hotstuff MSFT-PERP	+0.0024%	1h	502.80	−0.055%	$32K	$8K	20x	as long as short
Lighter MSFTshort	+0.0032%	1h	503.22	+0.028%	$1.2M	$495K	20x
Lighter RH MSFT	+0.0032%	1h	502.95	−0.025%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0036%	1h	503.16	+0.016%	$1.1M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.11	+0.006%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.15	+0.014%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.13	+0.010%	$11K	$15K	20x	as long as short
tradeXYZ xyz:MSFT	+0.0050%	1h	502.79	−0.057%	$22.2M	$8.9M	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	502.84	−0.047%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	502.97	−0.021%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	502.83	−0.049%	$513K	$463K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0052%	8h	503.04	−0.008%	$221	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.88	−0.039%	$1.6M	$57K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.22	+0.028%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	502.97	−0.021%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.03	−0.009%	$55	—	10x	as long as short
edgeX MSFTUSDC	+0.0118%	4h	503.66	+0.115%	$102K	$242K	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.24	+0.032%	$115K	$45K	30x	as long as short