Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%
Price spread now: Lighter RH against GRVT−0.008%7-day average −0.061% · you buy dearer than you sell
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$14as in the Price arb table
costs, in and out, $10k−$200.198% of the position
Funding, last 7 days+0.066%+$7 on $10k
+Price spread, last 4 days (all we have)−0.076%−$8 · spread now −0.008%, 7d avg −0.061%
=Together, before fees−0.009%+ Points / potential airdropGRVT: Active · Lighter RH: Points live · farm board−$1 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 0.053% dearer against GRVT than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.061%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | GRVT MSFT_USDT_Perp | 501.41 | 0 | get 0.0000% / 8h | 4h 23m | $18K | $302K | 10x |
| Short | Lighter RH MSFT | 501.37 | 0.0032 | get 0.0004% / 1h | 23m 05s | $675K | $2.0M | 20x |
GRVT MSFT_USDT_Perp
Lighter RH MSFTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against GRVT. 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: −0.008% → −0.061%
- $5.29
- Slippage, 4 orders
- −$10.76
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$7.74
- Costs to cover
- 0.198%
- Break-even
- 15.1 days
Slippage from GRVT: live order book, 34 min ago; Lighter RH: live order book, 5 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 GRVT live order book, 34 min ago | 1.20 bp | 8.3 bp −$8 | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 5 min ago | 1.30 bp | 1.7 bp −$2 | 3.8 bp −$38 | 41.4 bp −$4,140 | 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 | −0.0822% | 4h | 501.43 | +0.004% | $102K | $243K | 10x | as long as short |
| Coinbase International MSFT-PERP-INTX | −0.0040% | 1h | 500.97 | −0.088% | $678K | $455K | 10x | as long as short |
| Nado MSFT-PERP | −0.0006% | 1h | 501.29 | −0.024% | $414K | $64K | 20x | as long as short |
| Aster MSFTUSDT | 0.0000% | 8h | 501.27 | −0.027% | $161K | $116K | 20x | as long as short |
| Extended MSFT_24_5-USD | 0.0000% | 1h | 501.45 | +0.008% | $337K | $893K | 17x | as long as short |
| Binance MSFTUSDT | 0.0000% | 8h | 501.62 | +0.042% | $15.8M | $19.0M | 20x | as long as short |
| Bybit MSFTUSDT | 0.0000% | 8h | 501.24 | −0.034% | $7.2M | $2.2M | 100x | as long as short |
| OKX MSFT-USDT-SWAP | 0.0000% | 8h | 501.56 | +0.030% | $3.0M | $2.3M | 20x | as long as short |
| Gate MSFT_USDT | 0.0000% | 8h | 501.32 | −0.018% | $3.1M | $1.7M | 100x | as long as short |
| Bitget MSFTUSDT | 0.0000% | 8h | 501.39 | −0.004% | $4.5M | $2.5M | 100x | as long as short |
edgeX MSFTUSDC
Coinbase International MSFT-PERP-INTX
Nado MSFT-PERP
Aster MSFTUSDT
Extended MSFT_24_5-USD
Binance MSFTUSDT
Bybit MSFTUSDT
OKX MSFT-USDT-SWAP
Gate MSFT_USDT
Bitget MSFTUSDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni MSFT | 0.0000% | 8h | 501.34 | −0.014% | $1.3M | $616K | — | as long as short |
| GRVT MSFT_USDT_Perplong | 0.0000% | 8h | 501.41 | long leg | $18K | $302K | 10x | |
| SunX MSFT-USDT | 0.0000% | 8h | 502.34 | +0.185% | $6K | $4.0M | 20x | as long as short |
| HTX MSFT-USDT | 0.0000% | 8h | 501.48 | +0.014% | $59K | $225K | 20x | as long as short |
| Phemex MSFTUSDT | 0.0000% | 8h | 501.82 | +0.082% | $2.2M | $777K | 10x | as long as short |
| BloFin MSFT-USDT | +0.0027% | 8h | 501.48 | +0.014% | $189K | $204K | 20x | as long as short |
| Deribit MSFT_USDC-PERPETUAL | +0.0029% | 1h | 501.35 | −0.012% | $27K | $41K | 10x | as long as short |
| Lighter RH MSFTshort | +0.0032% | 1h | 501.37 | −0.008% | $675K | $2.0M | 20x | |
| QFEX MSFT-USD | +0.0036% | 1h | 501.43 | +0.004% | $1.2M | $5.4M | 10x | as long as short |
| Arcus MSFT-USD | +0.0040% | 1h | 501.19 | −0.044% | $96K | $111K | 10x | as long as short |
| Vest MSFT-USD-PERP | +0.0046% | 1h | 501.35 | −0.012% | — | $1K | 25x | as long as short |
| Phoenix MSFT | +0.0048% | 1h | 501.08 | −0.066% | $10K | $15K | 20x | as long as short |
| tradeXYZ xyz:MSFT | +0.0050% | 1h | 501.04 | −0.074% | $22.1M | $8.7M | 20x | as long as short |
| Polymarket Perps MSFT-USD | +0.0050% | 1h | 501.17 | −0.048% | $302K | $722K | 10x | as long as short |
| SoDEX MSFT-USD | +0.0050% | 1h | 501.32 | −0.018% | $60K | $3K | 10x | as long as short |
| Ondo Perps MSFT-USD.P | +0.0050% | 1h | 501.05 | −0.072% | $527K | $443K | 15x | as long as short |
| Paradex MSFT-USD-PERP | +0.0058% | 8h | 501.43 | +0.004% | $221 | — | 5x | as long as short |
| Hotstuff MSFT-PERP | +0.0096% | 1h | 501.00 | −0.082% | $32K | $8K | 20x | as long as short |
| KuCoin MSFTUSDTM | +0.0100% | 8h | 501.12 | −0.058% | $1.5M | $20K | 20x | as long as short |
| ApeX Omni MSFTUSDT | +0.0100% | 1h | 500.92 | −0.098% | $159K | $7K | 50x | as long as short |
| Orderly PERP_MSFT_USDC_mythos | +0.0100% | 8h | 501.45 | +0.008% | $8K | — | 10x | as long as short |
| Aevo MSFT-PERP | +0.0104% | 1h | 501.45 | +0.008% | $55 | — | 10x | as long as short |
| Lighter MSFT | +0.0136% | 1h | 501.57 | +0.032% | $1.1M | $499K | 20x | as long as short |
| Injective MSFT/USDC PERP | +0.0220% | 1h | 501.63 | +0.044% | $115K | $45K | 30x | as long as short |
Variational Omni MSFT
SunX MSFT-USDT
HTX MSFT-USDT
Phemex MSFTUSDT
BloFin MSFT-USDT
Deribit MSFT_USDC-PERPETUAL
QFEX MSFT-USD
Arcus MSFT-USD
Vest MSFT-USD-PERP
Phoenix MSFT
tradeXYZ xyz:MSFT
Polymarket Perps MSFT-USD
SoDEX MSFT-USD
Ondo Perps MSFT-USD.P
Paradex MSFT-USD-PERP
Hotstuff MSFT-PERP
KuCoin MSFTUSDTM
ApeX Omni MSFTUSDT
Orderly PERP_MSFT_USDC_mythos
Aevo MSFT-PERP
Lighter MSFT
Injective MSFT/USDC PERP