Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRnext payment +$0.04 per $10,000 · paid last 24h +0.001%
Price spread now: Lighter RH against Extended−0.016%7-day average −0.039% · 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−$13as in the Price arb table
costs, in and out, $10k−$150.153% of the position
Funding, last 7 days+0.054%+$5 on $10k
+Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.016%, 7d avg −0.039%
=Together, before fees+0.038%+ Points / potential airdropExtended: Active · Lighter RH: Points live · farm board+$4 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 RH is 0.023% dearer against Extended than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.039%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended MSFT_24_5-USD | 501.47 | 0 | get 0.0000% / 1h | 34m 58s | $340K | $949K | 17x |
| Short | Lighter RH MSFT | 501.39 | 0.0032 | get 0.0004% / 1h | 34m 58s | $619K | $2.0M | 20x |
Extended MSFT_24_5-USD
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Extended. 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: −0.016% → −0.039%
- $2.34
- Slippage, 4 orders
- −$10.26
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$6.21
- Costs to cover
- 0.153%
- Break-even
- 13.5 days
Slippage from Extended: 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 Extended live order book, 38 min ago | 0.10 bp | 5.3 bp −$5 | 31.5 bp −$315 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 1.79 bp | 2.0 bp −$2 | 5.8 bp −$58 | 43.1 bp −$4,310 | 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 | −0.0276% | 4h | 501.71 | +0.048% | $102K | $242K | 10x | as long as short |
| BloFin MSFT-USDT | −0.0020% | 8h | 501.57 | +0.020% | $188K | $206K | 20x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0008% | 1h | 501.13 | −0.067% | $680K | $456K | 10x | as long as short |
| Nado MSFT-PERP | −0.0002% | 1h | 501.42 | −0.011% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.53 | +0.013% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USDlong | 0.0000% | 1h | 501.47 | long leg | $340K | $949K | 17x | |
| Binance MSFTUSDT | 0.0000% | 8h | 501.57 | +0.020% | $15.7M | $18.7M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.58 | +0.022% | $7.4M | $1.6M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.70 | +0.046% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.31 | −0.032% | $3.1M | $1.6M | 100x | as long as short |
edgeX MSFTUSDC
BloFin MSFT-USDT
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget MSFTUSDT | 0.0000% | 8h | 501.59 | +0.024% | $3.8M | $2.2M | 100x | as long as short |
| Variational Omni MSFT | 0.0000% | 8h | 501.74 | +0.055% | $1.3M | $690K | — | as long as short |
| GRVT MSFT_USDT_Perp | 0.0000% | 8h | 501.86 | +0.079% | $19K | $295K | 10x | as long as short |
| SunX MSFT-USDT | 0.0000% | 8h | 502.32 | +0.170% | $6K | $4.2M | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | 0.0000% | 1h | 501.25 | −0.044% | $27K | $41K | 10x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.39 | −0.016% | $58K | $227K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.95 | +0.096% | $2.2M | $758K | 10x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 501.39 | −0.016% | $619K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0044% | 1h | 501.55 | +0.016% | $1.1M | $5.9M | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.48 | +0.002% | — | $1K | 25x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.15 | −0.063% | $22.2M | $9.1M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.20 | −0.054% | $303K | $674K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.45 | −0.004% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.39 | −0.016% | $527K | $488K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0051% | 8h | 501.54 | +0.014% | $221 | — | 5x | as long as short |
| Phoenix MSFT | +0.0080% | 1h | 501.66 | +0.038% | $10K | $15K | 20x | as long as short |
| Lighter MSFT | +0.0080% | 1h | 501.60 | +0.026% | $1.1M | $486K | 20x | as long as short |
| Hotstuff MSFT-PERP | +0.0080% | 1h | 501.46 | −0.002% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.45 | −0.004% | $1.5M | $19K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 501.19 | −0.056% | $160K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.50 | +0.006% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.45 | −0.004% | $55 | — | 10x | as long as short |
| Arcus MSFT-USD | +0.0212% | 1h | 501.60 | +0.026% | $97K | $109K | 10x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 502.00 | +0.106% | $115K | $45K | 30x | as long as short |
Bitget MSFTUSDT
Variational Omni MSFT
GRVT MSFT_USDT_Perp
SunX MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
HTX MSFT-USDT
Phemex MSFTUSDT
QFEX MSFT-USD
Vest MSFT-USD-PERP
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Phoenix MSFT
Lighter MSFT
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Arcus MSFT-USD
Injective MSFT/USDC PERP